It was quite a long shot when Michael Vick filed for bankruptcy in July 2008, but given the new six-year, $100 million contract the Eagles quarterback signed, the creditors are likely going to get back the $20.3 million Vick owes them.
As the rain has moved past New York City and Long Island and wind gusts have subsided, it seems to me that we can learn some things from the experience that relate to the government's current handling of the economy.
Fame is no longer protection from foreclosure, and neither is success. Who are some of the celebrities who have gone through a foreclosure? Find out!
Blogger Jonathan Henes calls for the congressional supercommittee — the "gang of six" — to consider an economic restructuring.
As a long-time bond bull, my gratitude to the know-nothings in the Tea Party is profound. So what if they played a major role in taking a thousand points off the stock market in the wake of the U.S. debt downgrade?
"2008 was more of a crisis of liquidity. This time is much more structurally worse, because we do not have much in the way of ammunition at the Fed," JJ Burns, president of JJ Burns and Co, told CNBC.
The past week's market drops and swings are dizzying. Everyday people are commenting that it is scarier than 2008. Now, that probably isn't true because no one is anticipating the inability to take money out of ATMs or the commercial paper market shutting down. Yet, there is something unnerving about the market declines, the uncertainty surrounding the economy and the lack of confidence in political leaders.
We had a flash crash. Then we had a flash rally. Now we're flashing again to the downside. I think we should all go away for a few days and give it a rest.
Although the country's credit rating has been downgraded and the stock market has plunged, car buyers are still heading into showrooms.
In the U.S., is it the fall of the Roman Empire or will our anemic growth pick up steam and help us out of the economic doldrums? Here are five questions to ask.
David Beers, Standard & Poor's head of government debt rating unit, explains why S&P downgraded the United States' credit rating from AAA to AA . Veteran investor Jim Rogers also weighs in.
Just imagine what would have happened to the markets if the debt ceiling wasn't raised. Yesterday, the equity markets fell off a small cliff and gave back the gains for the year. Today, we are watching the markets on a roller coaster ride as investors try to figure out what is really happening in the economy.
"We are not worried about Italy, we think this is a panic and unfounded fear," Oliver Baethe, chief financial officer at Allianz told CNBC. He added Allianz's exposure to the peripheral debt was now "fairly limited." "We have about 5 billion euros in exposure to the peripheral countries, the largest one of that left is Spain. On all the other ones its much smaller the net unrealised losses on all of the periphery portfolio is around 700 million," he said.
With the threat of failure to reach a debt deal finally out of the way and the worsening global macroeconomic picture gripping investors, it has been a win- win for US Treasurys so far.
Whether it’s the uncertainty of the new health care provisions, the plethora of proposed regulations included in Dodd-Frank, or the current budget and debt debate — one thing is for sure: small business owners are faced with an unprecedented amount of uncertainty.
UBS threatened to scale back its presence in London if the government followed advice from a heritage body that effectively blocked the redevelopment of its City of London headquarters, reported the FT.
Yesterday (Monday), Central Falls, Rhode Island, the smallest city in the smallest state in the nation, commenced a chapter 9 bankruptcy case. Central Falls, like so many other states and municipalities, made retirement promises to its firefighters and police officers that it couldn't keep.
The dollar will face months of weakness in the run up to the U.S elections next year, David Bloom, global head of foreign exchange strategy, HSBC told CNBC Tuesday
A new round of fiscal warfare is in store for the US over the coming months as a new congressional committee is formed to find extra savings from the most sensitive areas of the budget, the FT reported.