The US public sector is so big that the economy cannot support it and needs to be cut back, Sam Zell, chairman of Equity Group Investments, told CNBC Tuesday.
Greece is preparing a make-or-break return to the financial markets next month as it plans to raise about 4 billion euros ($4.96 billion) in its first borrowing attempt since last month's bailout, the Financial Times reports.
If U.S. consumers got back all of the money they paid in overdraft fees in just one year, they could pay last year's bonuses at Goldman Sachs, buy the Wrigley chewing gum company, or match all the money made with Internet advertising for a year.
The economy trudges ahead yet debt dogs many Americans, stressing them out even as they firm up their own financial foundations.
The European debt crisis has left markets vulnerable to any sovereign debt rating reports and ratings agencies have seen their influence mushroom in Europe.
Consumer borrowing posted an unexpected increase in March, only the second gain in the last 14 months. It could be a sign that households are feeling more confident about boosting spending, a key development needed to support a sustained economic recovery.
US financial companies still have more than a $1 trillion on their balance sheets, but analysts say they are unlike to stem the recent rally in financials.
Since the first widely accepted plastic charge card was issued in 1958 by American Express, the use of credit cards has skyrocketed. Check out the world's top 10 credit card issuers.
Consumer borrowing fell again in February, reflecting weakness in credit cards and auto loans. It marks a setback to hopes that consumers are beginning to feel more confident and will start spending more.
The demise of too-easy credit on campus may be a good thing for students, it leaves many of them with only one avenue for getting plastic: their parents.
Dubai Holding, a conglomerate owned by the emirate’s ruler, is looking at options that could include restructuring $20bn in debt, possibly dealing another blow to investors, the Financial Times reports.
The risk of default for Greek debt is priced much higher than that of Eastern European countries like Romania or Turkey. But Greece is rated investment grade while the two Black Sea countries are rated below investment grade.
A little-noticed provision of the Credit CARD Act of 2009 makes it easier for the estate's administrator to settle the account in a timely fashion.
Debit cards have different protections, uses; sometimes they're not the best choice
2012 is the beginning of a 3-year period in which over $700 billion in risky corporate debt begins to come due, a surge that some analysts fear could overload the debt markets, the New York Times reports.
The best advice on how to stay debt-free comes from people who have climbed their way out of debt -- and stayed out.
Your Social Security number is one of the keys to your financial health. It's a unique indentifier lenders use to assess your creditworthiness. It's also exactly what a would-be thief needs to apply for a credit card, mortgage, car loan or job in your name.
As if the credit markets aren’t already under enough pressure, the mass intrusion of state and federal debt will only make matters worse.
Greece's debt swaps came to light because of the battle between big banks and regulators in the US, Gikas A. Hardouvelis, professor of finance at the University of Piraeus and chief economist at Eurobank EFG Group, told CNBC Thursday.
Greece's 2001 deal to swap some of its debt using currency derivatives was in line with what other euro-zone countries were doing, Yiannos Papantoniou, the country's finance and economy minister when the deal was made, told CNBC.com Wednesday.