Updated 4:40 p.m., Aug. 4.
With the FAA shutdown threatening to stretch on for weeks, the travel and airline industries greeted with relief a deal announced by Congress on Thursday that would allow the agency to resume full …
Congress
Debt Deal Winners and Losers on Wall Street
In a stagnant economy, there are no winners on Wall Street – only survivors. That goes double for Wall Street’s winners (and losers) coming out of the 11th-hour debt deal between Republicans and Democrats in Washington. While …
Did President Obama’s Remarks Move the Markets?
The financial markets paid little attention to remarks by President Obama on the debt ceiling debate this morning. Stocks and bonds basically treaded water even after a bombshell report from the U.S. Commerce Department that …
As Default Looks More Likely, a Primer on Its Possible Consequences
A couple weeks ago, TIME Moneyland ran a piece about what could happen to regular Americans if the U.S. government defaults. At the time, most of us here thought an actual default was unlikely and that Congress and President Obama would find some solution to raise the debt ceiling. But with the Senate and the House still unable to reach …
Derivatives to the Rescue? How ‘Betting Against’ the U.S. Could Prevent A Default Crisis
Wednesday’s plunge in the markets signaled that the impasse over the debt ceiling, if it continues, will eventually trigger a substantial market sell-off. Until now, there had been surprising complacency among investors, who seemed to assume that after all the noise and haggling there would, of course, be a deal. That belief itself …
The U.S. Will Not Default on August 2
The only thing that matters for global markets over the coming days is whether a deal can be struck in Washington over the debt ceiling. That said, there is one major misconception – fostered by politicians – about what the …
Odd Couple Debt Dance In D.C. Spooks Markets
Can two major political parties get along without driving the financial markets crazy? Apparently not, as Democrats and Republicans – the odd couple of U.S. politics – still aren’t on the same page in agreeing to a new debt …
Need Some Investing Advice? Ask Your Congressperson
The average returns for members of the U.S. House of Representatives outperform the market by 6 percentage points. And Senators? They do even better.
Should Medical Debt Hurt Your Credit?
Of all the annoying things about your credit score, the one that turns people’s crank the most is how medical debt can tarnish it. That’s understandable. Nobody plans to get sick, healthcare costs are skyrocketing and a lot of …
Lawmakers Take Aim at Consumer Financial Protection Bureau
If you can’t beat ‘em, starve ‘em. It’s become a go-to tactic of the GOP-dominated House of Representatives, and it’s not just for Planned Parenthood anymore. Today, the House Appropriations Committee is expected to advance bank-friendly legislation created and approved by its financial services subcommittee that effectively hamstrings …
The Mounting War Over 32 Cents
Will Big Oil Get A Bigger Tax Bill?
You can practically set your watch by it. As petroleum prices soar—and with them, oil company profits and pain at the gas pump—sooner or later members of Congress will haul Big Oil executives into a hearing and Demand That Something Be Done. It happened in 2008, the last time oil prices breached the $100 a barrel mark, and on …
