Bill Ackman is known for going all-in on his investments, and he's putting it all on Michael Bloomberg.» Read More
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.
James Woolsey, the former director of the CIA under Bill Clinton, is returning to his old role—this time in a musical comedy.
No, you don't need to check the date: It's not an April Fools' joke. Woolsey, who is now involved in the venture capital world, will be playing the role of CIA director in select performances of a new musical called 'John Goldfarb, Please Come Home!'
What will define his legacy is whether the Fed went beyond its mandates and laid the groundwork for peril ahead.
Google's renamed parent company is set to become the latest investor to back Symphony. The FT reports.
The Fed cannot raise interest rates because the market is not pricing in a hike, Joseph LaVorgna told CNBC.