Word: commerciales
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As businesses such as law firms, investment banks, car companies and retailers cut jobs and move to less expensive offices, the commercial real estate industry is collapsing with astonishing speed. None of the unfinished buildings were erected with cash from the developers. Banks put the money up for the physical...
According to the FT, Leon Black, head of Apollo Management and a crafty investor in distressed debt told the paper that "the extra costs of cleaning up the U.S. banking industry could total as much as $2,000bn", putting further strain on the economy. He said the woes of the...
But, considering the risks still infecting the system, the clawback is pointless. Geithner and Bernanke have way more important things on their plate. Did we mention the economy, with unemployment headed toward 10%? And the upcoming G-20 meeting that has the U.S. and Europe at odds over what to...
The Fed is planning to put another several hundred billion dollars into buying up debt to help bring down interest rates. Nearly $300 billion of that will go to buying longer term Treasuries. If that causes interest rates to fall, it will help people who borrow money in the future...
McKellen has been thought of as one of the world's great actors for more than half his life. But in the last decade, he has also transformed himself from a strict stage thespian - highly rated, seen by very few - into a big screen star. This year, he can be...