Word: debt
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...hone their skills trading mock accounts online know that two months do not make a quarter, especially in banking. Some auditor may mention that Citi's toxic assets ran into more trouble in this quarter or that its consumer credit and LBO businesses needed to be adjusted for bad debt. Simply put, Pandit's comments did not mean...
...market capitalization in just a few hours. The good news from the conglomerate was that it sold $8 billion of bonds under a program backed by the U.S. government. That means GE is very close to its goal of raising the $45 billion it wanted to get from the debt markets this year. GE also benefited when a skeptical analyst said that a recovery in the financial market held a number of benefits...
...barely mentioned was the fact that spreads on credit-defaults for U.S. debt have been rising sharply. More and more traders are willing to bet that the American government will not be able to make payments on its rising pool of debt...
...probably never crosses the mind of the average citizen that the ability of the U.S. government to borrow money for deficits, bailouts, mortgage-assistance programs, and refurbishing the monuments in Washington is not limitless. The term infinite may apply to the cosmos but it does not apply to the debt carried by the U.S. Treasury...
...MarketWatch pointed out that the spreads on credit-default swaps for U.S. government debt jumped to 97 basis points Tuesday, nearly seven times higher than a year ago and 60% higher than at the end of last year, to a level roughly in line with those of France, according to data supplied by Markit. Those swaps are gambles that America will renege on its financial obligations. Being on par with France is even more humiliating than if we were compared to Cameroon which had a GDP of only $44 billion last year, less than Bernie Madoff took from his clients...