Carlyle has raised $698 million for its dedicated Africa fund, nearly $200 million above its initial target.» Read More
The sands in Uncle Sam's debt ceiling hourglass are sliding down. Between April and May, according to Treasury Secretary Timothy Geithner, we will have exhausted the nation's borrowing authority.
Junior Senator Pat Toomey (R-PA) is hoping his "Full Faith and Credit Act" will be the answer. Geithner, however, has called the bill "quite harmful."
What Toomey's billwould do is force the Treasury prioritize payments, paying off debt first and then paying for programs like Social Security. If passed, it would allow the US to hit the debt ceiling without automatically triggering a default on the nation's debt. The bill has support from the House Republican Study Committee but with such harsh words from Treasury and from some Democratic Leaders, the act faces an uphill battle on Capitol Hill. I caught up with the Senator and talked about all things budget reform and tax reform.
Geithner attempts to hash through capital control issues in Brazil. [CNBC]
Guess what? Monetary policy isn't a precise science with easily predicted results . [Bloomberg]
SEC lawyers—who missed Madoff crimes—get major hookups at private law firms [NY Post]
Santander bids on Polish bank. [DealBook]
"Nile Revolution" isn't going away. [Reuters]
Obama administration officials are hard at work preparing a white paper on overhauling the nation's housing finance system. Next week they are expected to make a major announcement about Fannie Mae and Freddie Mac, the two mortgage companies the government took over in the summer of 2008.
With all the talk of 'regime elements' and wealthy businessmen fleeing Egypt, I've been thinking about gold and diamonds a lot lately.
We hear of dictators stashing large quantities of gold: For example, stories of Saddam Hussein's gold stash have achieved quasi-mythic proportions—George Clooney even starred in a film based on the premise.
But why not diamonds?
A tender moment between Bill and Melinda Gates insde the Congress Centre at the World Economic Forum this week.
Can anyone explain why it makes any sense at all to blame the weather for the job creation falling so far short of expectations?
Everyone's buzzing about HFTs having a speed advantage but this NYU professor and former HFT trader says not so fast — there's more.
Ex-Galleon trader Turney Duff offers an insider's view of how learned about Wall Street's dirty little secret: insider trading.
Fed speak may trump earnings reports and economic data, guaranteeing another volatile trading day.