Lots of people have been wondering when one of the big oil-exporting countries, fed up with the weakening dollar, will demand to be paid in euros. But few had been paying attention to the far greater threat that supermodels might demand payment in currency harder than the greenback. Until now: According to Brazil’s weekly magazine [...]
One great thing about business crises is the way they turn so many of us semi-amateurs into temporary financial geeks. Five years ago it was all about stock-option accounting and special purpose vehicles. Now it’s collateralizalized debt obligations, special investment vehicles, and my personal favorite of the moment, “level 3 assets.” These, sadly, don’t have [...]
