Sunday, 21 September 2014
Last updated 2 days ago
Oct 3 2013 | 12:19pm ET
As the U.S. government shutdown enters its third day, the Obama Administration is warning that worse could be on the horizon should Congress fail to raise the federal debt limit. Greenlight Capital's David Einhorn agrees.
Einhorn told Bloomberg Television that it is unimaginable that the debt limit would not be increased, leading to a default on U.S. sovereign debt—the first in the country's history.
"Frankly, not working this out so the government shuts down is bad enough," Einhorn said. "It doesn't seem that they tried to sit down and talk through their differences. It's a real shame. I think it is embarrassing to all of them."
Congressional Republicans have tied both the federal budget and an increase in the debt limit to a number of demands, including a delay of President Barack Obama's signature healthcare law and major spending cuts. The president and Senate Democrats have rejected those requirements as blackmail; Obama said he will not negotiate over debt limit.
Aug 25 2014 | 11:21am ET
As many of you know, FINalternatives was recently acquired by the owners of Futures magazine, a firm called The Alpha Pages LLC. Today marks the soft-launch of a new sister site for both publications. As its name suggests, The Alpha Pages will cover all types of alternative investments, going far beyond the more well-known ones such as hedge funds and private equity. Read more…
Credit default swaps brought down the London Whale and cost JPMorgan $6.2 billion. Here is how it happened.