Banks, Bonds | featured news

Fed, worried about job growth, launches new stimulus

Federal Reserve

The Federal Reserve, hoping to give another shot in the arm to the pallid recovery, announced it would launch a new round of a controversial bond-buying stimulus program. The central bank also further extended its pledge to keep short-term interest rates near zero, now through the middle of 2015.

 

How a Plan to Help Stockton, Calif., Pay Pensions Backfired

Stockton Police

Jeffrey A. Michael, a finance professor in Stockton, Calif., took a hard look at his city’s bankruptcy this summer and thought he saw a smoking gun: a dubious bond deal that bankers had pushed on Stockton just as the local economy was starting to tank in the spring of 2007, he said.

 

Morgan Stanley profit drops nearly 50 percent

Morgan Stanley's first-quarter profit dropped nearly 50 percent, hurt by a steep decline in bond trading revenue.

 

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