Word: assets
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Dates: during 2000-2009
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Edmund Phelps, a Nobel Prize - winning economist at Columbia University, thinks people should take something else into consideration: Do you really want the bulk of your wealth tied up in a single asset? As we've been reminded, real estate carries risks just like any other investment...
...writing or philanthropy or public service." Goldman, he notes, has already paid back the $10 billion - plus $318 million in dividends and an additional $1.1 billion to buy back warrants (at above-market value, he adds) - that Paulson forced it to take last October from the $700 billion Troubled Asset Relief Program. Taxpayers' annualized return on their nine-month investment in Goldman Sachs? A cool...
...federal deficit is the result of declining revenue - people are making less money so they're paying less in taxes - and increased spending. So far, the government has spent $530 billion more this year than it did last year, a number that includes $169 billion for the Troubled Asset Relief Program (TARP), $125 billion for the American Recovery and Reinvestment Act and $83 billion to bail out Fannie Mae and Freddie Mac. And that doesn't even account for the spending scheduled for next year. Add to this the projected $1 trillion price tag of Obama's proposed health-care...
...long-term effects of the agreement on the Swiss banking industry, however, are difficult to predict, experts say. "The settlement is a success for Switzerland and its financial center because it takes away a lot of pressure," says Teodoro Cocca, a former professor of wealth and asset management at the Swiss Finance Institute in Zurich. "But what is disturbing is that it contains elements of a 'fishing expedition,' and potentially other Swiss banks that have U.S. clients could be put under similar pressure." (See the top 10 tax dodgers...
Still, at least seven more IPOs are in the pipeline, including offerings from Colony Capital, Apollo, Alliance Bernstein, Bayview Asset Management (which is partly owned by Blackstone Group), Ellington Management Group, Western Asset Management and AG Financial Investment Trust...