Word: crisises
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"People originally said it would eliminate the issuance of municipal bonds," says John Cummings, who is head of muni-bond investments at money-management firm PIMCO. "Instead they have stabilized the market and helped to create jobs." (See the top 10 financial-crisis buzzwords.)
A little over a year ago, the credit crisis caused the municipal-bond market to grind to a halt. Shell-shocked investors pulled back from even munis, which are normally considered a relatively safe bet. Bond yields soared. Local governments were forced to delay raising money. And auctions of short...
What might be the driving factor that lowers holiday retail sales and stalls a much-anticipated economic recovery? Stingy spouses with children. According to a new survey from America's Research Group, a retail-consulting firm, 50.1% of parents plan on cutting back on gifts to each other this year...
Even before the economic crisis, the French had made something of an antihero of Jérôme Kerviel, a young, rogue trader who lost $7.2 billion of the Société Générale bank's money in early 2008. He too had his moment...
Many economists argue the low value of China's currency helped contribute to the global imbalances that precipitated last year's financial crisis. China has rejected that idea, and instead points the finger at the U.S.'s profligate spending and weak control of financial markets. Obama is expected to raise...