Rating Agencies

Costs & Consequences Of Illinois' Budget Crisis

Gov. Bruce Rauner and the Democratic-controlled Legislature have failed to reach a budget agreement for the third consecutive fiscal year, the costs and consequences of this unprecedented partisan gridlock are going to get significantly worse...

South Africa Unexpectedly Plunges Into Recession

Despite expectations (among 19 'economists') that growth would be up 1.0% in Q1, South African GDP tumbled 0.7% (the second drop in a row) pushing the nation back into recession after eight years.

"Now The Pain Begins": S&P, Moodys Cut Illinois To Near Junk, Lowest Ever Rating For A U.S. State

“We’re going to start to see some real pain now,” Senate President John Cullerton told reporters in Springfield on Wednesday after both S&P and Moody's downgraded Illinois to just above junk, the lowest ever rating for a US state. “We’re going to start to see downgrades. We don’t have any funding for schools. We don’t have any funding for higher end and a bunch of social programs.”

Ignore OPEC, It's China That Dictates Oil Prices

"If you wanted to know where the downside risk is, it is not in OPEC's decision or in U.S. driving demand or in global inventories rebalancing. I think China is the big source of concern,"

Contagion Fears Rise In Aftermath Of Home Capital Group Collapse

“The probability has gone from infinitesimal to possible -- unlikely, but possible,” said Hall, chief investment officer of the Calgary-based money manager, in an interview Saturday. “If depositors or bondholders start to lose faith in their banks, well then that becomes systemic.”

Rand Tumbles For Second Day After Zuma Says He'll Fire Gordhan

One day after the South African rand tumbled on the suprising report that president Zuma had ordered his finance minister Pravin Gordhan to cancel roadshow meetings with investors in the UK and US and return home on Monday, overnight the rand plunged for the second day in a row, after the 74 year old president told senior leaders of the South African Communist Party that he plans to fire Finance Minister Pravin Gordhan.

Steve 'Big Short' Eisman: Smart, Lucky, Abrasive (& Now One Of Them)

"In the movie he was portrayed as the moral compass. After hearing his praise for the awesome job Paulson did by saving the criminal Wall Street banks with taxpayer money, I think the justice and righteousness stuff is overdone. Earlier in his talk he said banks existed to “fuck you” – his exact words. Then later he says we had to save them or the world would have ended."