David Rockefeller, the famous banker and philanthropist with the family name that controlled Chase Manhattan bank for more than a decade and wielded vast influence around the world in the world of finance, has died on Monday morning at his home in Pocantico Hills, N.Y. He was 101.
Just days after reports emerged that student loan defaults are soaring, the Trump administration has revoked rules put in place by Obama that barred student debt collectors from charging penalty fees on past-due loans...that should take care of that pesky 'moral hazard' problem...
Attempting to spend a nation to prosperity using borrowed money is not without consequences. In the short run, an illusion of wealth can be erected. In the long run, that illusion slips into decay and disrepair.
Puerto Rico bonds are in the midst of the biggest three-day rout since April 2016, when island officials advanced a moratorium bill that paved the way for the first default on its general-obligation debt.
Logic and current trends suggest that declining output growth accompanied by higher prices will begin hitting economies and facing policy makers in the coming years. Markets should begin sniffing out this stagflationary macroeconomic setup this year.
In an ideal world, all sides would come together and not play politics with the debt ceiling again. Clearly that’s not the world in which we live. America’s partisan divide may now be so wide that a default will occur...
Despite Obama's efforts to establish "Income Driven Repayment" plans for student debt (which more or less simply defers principle repayments until some point in the future when they can be taken over by taxpayers), a record amount of student debt fell into default in 2016...shocking.