Most traditional indicators show inflation in the U.S. to be well under control, but bacon cheeseburger eaters know better.» Read More
In the wake of the Facebook-Goldman fiasco, it’s asking: why does the SEC have a built-in bias against private placements?
John McLaughlin, an attorney whose firm represents Goldman Sachs , offered an answer last week—the SEC is defending its turf.
The latest sign that the debt markets are awash in liquidity comes in the form a $500 million covenant-light debt issuance to pay a dividend to its private-equity owners.
Aleris International Inc—a Beechwood, Ohio aluminum company that emerged out of bankruptcy last year and is now owned by Oaktree Capital Management, Apollo Management, and Sankaty Advisors—sold the seven year notes at par yesterday to yield 7.625 percent.
The bonds offer some of the weakest lender protections of any deal to come to market recently, according to analysts at Moody’s and Covenant Review quoted in Michael Aneiro’s story in today’s Wall Street Journal . In particular, the covenants don’t provide checks on the ability of the company to borrow more and push cash out to sponsors.
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?
CNBC's Patti Domm and Jeff Cox discuss the jobs report and the current dilemma of long-term unemployment.
CNBC's Patti Domm and Jeff Cox discuss the recent GDP numbers and what factors have been affecting it.
Investors give and investors take away, and nowhere has that been more true lately than in value stocks.
The AIG bailout trial may help cleanse a lot of lingering resentment, says NYSE floor trader Kenny Polcari.
For the first time, Fed officials have offered an account that differs significantly from the versions that, for many, have hardened into history. The NYT reports.