Whither Europe: Greeks are withdrawing $1 billion daily and hording dry foods ahead of June 17 elections that may hasten the country’s exit from Europe’s monetary union.
An ill-timed acquisition has made Credit Agricole the foreign bank with the most to lose in the Greek crisis.
Despite Spanish Prime Minister Mariano Rajoy’s assertion Read More
Blanked: About 14 percent of investment bankers received no bonus last year, more than double the number in 2010, according to a report from the executive-search firm Options Group. Top earners saw more of their compensation deferred, with about 80 percent of total comp pushed back for bankers paid $3 million or more, compared with Read More
Jeffrey Gundlach hosted a web presentation this afternoon, sparing no amount of bad wordplay to skewer credit card slogans and borrowers alike. There was a point to the talk—perhaps simply to contradict Dick Cheney’s 2002 assertion that “Reagan proved that deficits don’t matter”—but we were caught up in Gundlach’s masterful roiling of the sloganeers that Read More
The Federal Open Market Committee (F.O.M.C.) took the unusual step on Aug. 9 of announcing a specific time horizon for its extraordinary level of policy accommodation. Conceding evidence of a slowdown in the recovery, the committee voted 7-3 to adopt language stating that its target for the fed funds rate will likely remain at “exceptionally low levels” for the next two years. The committee also reaffirmed its intention to reinvest principal payments on its enormous holdings of Treasuries and other securities. Read More
