Chinese Leaders Proclaim End To Government Bond Risk Backstop, Look To Detroit For Guidence

Xu Zhong, head of the People’s Bank of China’s research bureau, is in an unusual position. In a nation known for government intervention in free market forces, he recognizes the slippery slope of the moral hazard of the government bailing out risky lending practices. Looking at how local Chinese governments have become over-leveraged, he says the… Please follow and like us:

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8 of the Worst Financial Blunders by Athletes

What would you do if you won the lottery tomorrow? Would you continue adding to your car collection, buying really expensive one-of-a-kind vehicles? Would you make your own 3-D printer mold for bobble heads? Would you invest in cryptocurrency? And how would you fend off the money moths? That’s what some professional athletes seem to think… Please follow and like us:

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5 ways Wells Fargo ripped people off in 2017

Big banks. Two words that make consumer expert Clark Howard’s skin crawl! And no “giant monster mega-bank” — as Clark calls them — was more revolting in 2017 than Wells Fargo. Here’s a look back at the newer ways that the big bank ripped off its customers — beyond the usual high fees, poor customer service… Please follow and like us:

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These major retailers are closing 1,000 stores in 2018

The new year could be another difficult one for traditional retailers. After closing more than 5,000 stores in 2017, we’re already getting word of closings for 2018. In 2017, the store closure and bankruptcy announcements began in January, right after the Christmas shopping season. RELATED: This retail secret may trick right-handed shoppers into spending more money… Please follow and like us:

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VENEZUELA – No headway in Venezuela after crunch debt talks last just 30 minutes

Venezuela’s government gifted chocolates to creditors on Monday, but offered no firm proposals at a meeting in Caracas that left investors without a clear understanding of the government’s strategy to renegotiate $60 billion (€51 billion) in debt. President Nicolas Maduro confused investors this month with a vow to continue paying Venezuela’s crippling debt, while also seeking… Please follow and like us:

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Bankrupt Bitcoin Bandit Set to Become Filthy Rich

Mark Karpeles, the former head of the world’s biggest bitcoin exchange, is about to make $859 million from his customers’ funds, according to reports. Japanese police arrested Karpeles, who former employees describe as a “maverick” and a “mindfuck,” in 2015 in connection to the loss of around one million bitcoins from the now defunct Mt. Gox… Please follow and like us:

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Chicago’s Bankruptcy Boom

This week we published a deep look at why bankruptcy frequently fails to provide relief to black Americans struggling with debt. The story focused on Memphis, Tennessee — the bankruptcy capital of the nation — where black debtors have for generations been funneled into Chapter 13, which usually requires five years of payments most have no… Please follow and like us:

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Report: Credit Rating Agency Downgrades ‘A 21st Century Form Of Redlining’

In the aftermath of the 2008 financial crisis, credit ratings agencies like Moody’s and Standard & Poor’s were criticized for giving bogusly high ratings to the bonds of financial firms that paid them. Now, a new report has accused the agencies of inappropriately downgrading credit ratings in a way that disproportionately harms low-income populations and people… Please follow and like us:

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Sears Among Companies That Likely Won’t See 2019

This article originally appeared on the Motley Fool. The stock market has absolutely been on fire over the trailing 12 months. The broad-based S&P 500 has increased by a whopping 17 percent over that time span, which is more than double the historical average increase in stocks, including dividend reinvestment, of 7 percent over a one-year… Please follow and like us:

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