Word: municipales
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Credit default swaps are insurance-like contracts that promise to cover losses on certain securities in the event of a default. They typically apply to municipal bonds, corporate debt and mortgage securities and are sold by banks, hedge funds and others. The buyer of the credit default insurance pays premiums...
Credit default swaps were seen as easy money for banks when they were first launched more than a decade ago. Reason? The economy was booming and corporate defaults were few back then, making the swaps a low-risk way to collect premiums and earn extra cash. The swaps focused primarily...
Monoline bond insurance companies, such as MBIA and Ambac Financial Group Inc., have been hit the hardest as they scramble to raise capital to cover possible defaults and to stave off a downgrade from the ratings agencies. It was this group's foray out of its traditional municipal bonds and...
But with Fillon and other leading conservatives adamant their municipal setback would not affect the mandate for sweeping reform got from voters just 10 months ago, some pundits accused the right of being intentionally autistic in ignoring Sunday's outcome. "Monsieur le Président, someone has to inform you...
Apparently, resounding electoral defeat has left France's ruling conservatives a little hard of hearing. Because scarcely minutes after the opposition Socialists registered dramatic advances in the final round of country-wide municipal polling on Sunday evening, members of the French government claimed they hadn't heard the faintest note...