Bill Gross thinks conditions are ripe for a liquidity crisis, and he points a finger at his old firm for its potential to be at the center of the storm.» Read More
Attorney Matthew Kluger and trader Garrett Bauer allegedly began their insider trading scheme in 1994, when Kluger was still in law school. (Wall Street Journal). The third member of their alleged scheme, who hasn't been charged, was a mortgage broker. 'Nuff said.
Up to 18 British banks could see their senior debt ratings cut several notches. (Reuters via CNBC) The real scandal here is that anyone still listens to ratings agencies.
Frank Quattrone is back. (New York Times) Do you seriously doubt there's a tech bubble again?
The European Central Bank raised interest rates by 25 basis points to 1.25 percent. (Reuters) The BERNANK, however, is still stuck down at zero.
Here's what the world's most famous "rough trader"— Nick Leeson—has to say about the rate hike. (Business Insider). "Not the death knell some are predicting."
Goldman's attempt to launch an exchange for unregistered securities largely failed. (Wall Street Journal) Not enough trading.
When New York City couldn’t find investors for its debt in the 1970's, the best and the brightest all urged a bailout. David Rockefeller, the head of Chase Manhattan Bank \(one of the largest holders of NYC debt\), warned that if New York City defaulted, the entire financial system would come crashing down. Others said it would mean capitalism had failed.
Well, New York did default.
The Federal Reserve said it auctioned off 42 mortgage-backed bonds it acquired as part of the rescue of American International Group. The bonds had a face value of $1.326 billion.
Kevin Ospina is not letting inflation fears get in the way of his spending habits.
The 28-year old business analyst, who was unemployed for seven months last year, started a new job last September.
The official line out of Portugal Wednesday was that the country can meet all its financing needs and is not asking for any aid from the European Union.
The results of Wednesday’s auction of Portuguese debt left many wondering how long that stance would continue.
This is a hilarious conversation that took place between trader Garrett Bauer and the middleman who allegedly helped him insider trade.
During a phone conversation about how to cover up their actions, the middleman suggests actually washing the money.
Bauer is skeptical, but ultimately, they go for it.
When Greg Lippman, the former Deutsche Bank executive who helped birth credit default swaps on mortgage-backed securities, was asked who was selling hedge fund investors insurance on lousy subprime loans, he answered concisely: Dusseldorf.
“Stupid Germans,” Lippman said. “They take the ratings agencies seriously. They believe in the rules.”
If you're in the market for a used Asian car you will need to dig a little deeper into your wallet. With Toyota shipments slowing down, dealers are not only putting a premium on existing new models on their lots, but the sticker price on used autos are also going up as well.
I asked Jesse Toprak, VP of Industry Trends and Insights into TrueCar.com on what consumers can expect the next time they enter a dealer show room.
Nobel Prize-winning economist Robert Shiller says that his key valuation indicator is flashing warning signs.
The Fed is in the early stages of an analysis on changes in bond market liquidity, amid signs that liquidity may be less resilient than in past.
Janus Capital acquired a majority interest in Kapstream Capital and said Kapstream's Palghat will support Bill Gross as co-portfolio manager of the Janus Global Unconstrained Bond strategy.