Oil companies, manufacturers, advertisers and real estate investors warned that a proposal from Senate Finance Chairman Max Baucus to slow down deductions for capital assets could raise the cost of investment.
JPMorgan Chase & Co.’s record $13 billion deal to end mortgage bond probes has terms that undermine U.S. efforts to reduce taxpayer support of the market, according to BlackRock Inc., the world’s biggest money manager.
Blackstone Group LP’s debut sale of bonds backed by rental homes is paving the way for Cerberus Capital Management LP and Colony Capital LLC as Wall Street creates a new market to expand funding for the industry.
Steve Schwarzman’s Blackstone Group LP has spent $7.5 billion acquiring 40,000 houses in the past two years to create the largest single-family rental business in the U.S. The private-equity firm is now planning to sell bonds backed by lease payments, the latest step in turning a small business into a mature industry.
Republican lawmakers have played down the significance of hitting the debt limit, saying the U.S. can avoid default by putting aside funds to pay bond holders. Economists affiliated with the party aren’t so sanguine.
How is it government officials come to contradictory conclusions about what the U.S. Treasury can do in the event it lacks the money to pay all its bills? Can the Treasury prioritize and pay bondholders before everyone else?