Standard & Poor’s, the rating company that downgraded the debt of the United States to AA+ from AAA for the first time, now finds itself assailed by investors led by billionaire Warren Buffett for making a political decision that has more to do with Tea Party politics than the financial stability of the U.S.
The president may be out of ideas, but he is never out of words. He has been sharing voluminous amounts of them with audiences over the last two weeks on his latest speaking tour, or pivot, on the economy.
Nov. 30 (Bloomberg) -- Robert Litan, Bloomberg Government director of research, discusses the theories behind the path to solving the fiscal cliff. He speaks on Bloomberg Television's "Bloomberg Surveillance."
Citigroup Inc. and Bank of America Corp. were the reigning champions of finance in 2006 as home prices peaked, leading the 10 biggest U.S. banks and brokerage firms to their best year ever with $104 billion of profits.
Wall Street banks , surprised that the Senate’s financial overhaul passed with language that could curtail their derivatives trading, are now hoping the rule can be killed in Congressional negotiations.
Aug. 28 (Bloomberg) -- Jack Gerard, president of the American Petroleum Institute, Carlos Gutierrez, vice chairman of the institutional clients group at Citigroup Inc., Leonard Cali, senior vice president of external and legislative affairs at AT&T Inc., and Robert Litan, director of research at Bloomberg Government, talk about the U.S. regulatory environment. They speak at the Republican National Convention in Tampa, Florida, as part of the Bloomberg/2012 Tampa Host Committee Economic Development Series. Bloomberg's Michael Riley moderates the panel. (Source: Bloomberg)
More than 1 million self-employed Americans are no longer in business almost four years after the last recession began, as the economy constrains entrepreneurial activity and small-business job creation.
A U.S. regulatory proposal to broaden access to clearinghouses may help MF Global Holdings Ltd. , Jefferies Group Inc. and dozens of smaller banks and brokers win entry to a market dominated by Wall Street’s biggest banks.