The streets of Athens, Greece, were filled with fighting Tuesday over prospects of more spending cuts and tax increases. The violence marred a general strike as the Parliament considers new austerity measures intended to fend off a national default. Independent…
The specter of Euro-debt default is again roiling the markets. "Worries Over Europe Pose Risks for Euro," read a headline in Monday's Wall Street Journal. "Spain Pegs Cajas' Possible Problem Debt," warned another. (Cajas are the regional Spanish…
Wall Street investors and some in Congress recently have raised concerns about the risk of cash-strapped municipalities defaulting on bonds they issued. Judy Woodruff talks to the National League of Cities' Chris Hoene and Richard Larkin of Herbert J. Sims…
Name: Merritt Dunn Question: Since the Treasury Department bailed out AIG and AIG had underwritten a large number of credit default swaps (that I understand pay up if a certain percentage of mortgages in a portfolio go into foreclosure), then…
As part of his continuing series of reports making sense of economic news, Paul Solman tells the story of some homeowners who have stopped paying their mortgages even though they can still afford them.
With mounting debt putting Greece dangerously close to a sovereign default, the country is under increasing pressure from European Union nations to reign in spending. John Sparks of ITN reports.
Paul Solman speaks with economists Carmen Reinhart and Ken Rogoff about the financial crisis and how it compares to previous economic meltdowns.
Question: My question is: What about U.S. bond holders? I’ve seen bailouts of incompetent banks and businesses and some selective shareholder groups. Investment grade bonds were considered to be the safest investment next to…
Foreclosure filings in the United States jumped in July, again setting a record for the third time in five months. The increase was due to falling home prices and the recession, which kept some homeowners from making payments or refinancing.
Paul Solman: Questions keep coming in about the likelihood and consequences of a California default on its bonds. One unexpected result might be anger for the ages. Here’s Lake Poet William Wordsworth on the 1842 bond default of Pennsylvania,…
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