Argentina is out of legal options to avoid paying a court-ordered $1.33 billion, plus interest, to the holdout creditors who declined to restructure their bonds.» Read More
the economy is in the throes of a V-shaped recovery. I've been saying that for months now. But is this recovery a temporary false dawn, or can we be confident it has legs? Will Washington's deficit-spending and debt-monetization policies be reversed, or is the soaring gold price a true negative signal for the future?
In the latest sign of the zeal in Congress to get tough on Wall Street, the Senate approved two initiatives on Thursday aimed at addressing the role that major credit rating agencies played in the 2008 financial collapse, including a proposal to end the reliance on companies like Moody’s Investors Service and Standard & Poor’s.
The European Cental Bank's bailout package is just a $1 trillion fig leaf covering the problem and a better move would have been to arrange for Greece and Portugal to leave the European Union.
Any assumption that the financial crisis is behind us is way off the mark, as the European Union is just shifting debt obligatoins between the public and private sector and not dealing with the undelying problem.
The three biggest credit agencies are now on the hook—along with eight Wall Street banks—in a probe involving whether they misled investors in toxic, mortgage-backed securities, CNBC has learned.
Over the last year, the Obama administration has pressed forward on hundreds of new mandates, while also stepping up enforcement of rules by increasing the ranks of inspectors and imposing higher fines for violations. The New York Times explains.
Public attitudes toward the economy have created ominous political problems for the Democratic Party and for Wall Street, according to the new NBC News/Wall Street Journal poll.
The autopsy continues on what caused a 1000 point drop in the Dow last Thursday. But with a quick look at the chart, it is obvious to the naked eye that electronic trading was at least partially to blame for the tailspin.
John Paulson, who made $15 billion shorting the housing market, told investors in a conference call on Monday that he expects housing prices to rise between 3 percent and 5 percent this year and another 8 to 12 percent in 2011.
Mutual fund management companies receive handsome fees from people who often have no idea whether they are getting a good deal. For the most part, they're not, says the NYT.
ExxonMobil Chairman and CEO Rex Tillerson says President Obama made the right call in putting a moratorium on new Gulf of Mexico oil leasing in the wake of the BP disaster.
Once passed, the bill will be signed into law and then presented to the Euro Zone meeting on Friday night. There is likely to be a constitutional challenge to the agreement, but this will not impede the flow of money to Greece.
A 100-ton concrete-and-steel contraption designed to siphon off the oil fouling the Gulf of Mexico was being hauled to the spot in the sea where a blown-out well is spewing hundreds of thousands of gallons of petroleum a day.
Fishermen along the Gulf Coast are unhappy about BP's plan to compensate them for lost wages.
When a pipe bursts, your first response is to cup the leak. In the simplest terms, that’s the idea behind a massive structure the company Wild Well is building in Port Fourchon, La., to contain some of the spewing oil from the ongoing BP disaster in the Gulf of Mexico.
While tougher regulations on consumer protections and derivatives are the highlights, it will be the lesser known aspects that will make or break many businesses.
Here's my friend Dan Mitchell's latest video. As usual, it's definitely worth watching. According to Dan: The correct capital gains tax rate is zero because there should be no double taxation of income that is saved and invested.
Mr. Buffett understands risk and how markets work. He knows that in the world of buying and selling complex financial instruments, responsibility is a two way street. Caveat emptor.
Some fear the bill will wind up giving preferential treatment to big firms, while others worry that the American taxpayer will remain on the hook, much the way it happened with the near failuremof AIG and others in 2008.
A chemical compound that breaks down oil into droplets so that bacteria can eat it may be part of the solution to Gulf of Mexico oil spill.