Thousands of brick houses line the streets of Huber Heights, a leafy suburb of Dayton, Ohio, named for the builder who developed it in the 1950s and nurtured its growth. Until this year, his family was the town’s biggest landlord, with a third of all rental housing. Now the tenants’ payments are being routed to a $9 billion hedge fund.
Investors are increasingly seeking advice on how the potential nomination of Lawrence Summers as chairman of the Federal Reserve instead of Vice Chairman Janet Yellen might influence monetary policy and financial markets.
President Barack Obama’s three-day Florida golf getaway featuring a round with Tiger Woods opened him to criticism of tone-deafness for playing when he’s at a budget impasse with Congress that threatens automatic spending cuts in less than two weeks.
Treasury Secretary Timothy F. Geithner will stay in his post through President Barack Obama’s inauguration as the administration negotiates with Congress to avert the so-called fiscal cliff, White House press secretary Jay Carney said today.