Hong Kong took a new step this week to let some air out of its real estate bubble, levying a heavy tax on property flippers — a move that has already sent asking prices there downward. But Hong Kong’s real estate risks are dwa…
Pacific Investment Management Co., the manager of the world’s largest bond fund, plans to launch a fund worth at least $1 billion to buy distressed loans from banks.
The fund will buy up past-due debt including commercial and residential mortgage loan…
Republican members of Congress on Wednesday sent a letter to Federal Reserve Chairman Ben Bernanke criticizing QE2, the qualitative-easing program to buy $600 billion in bonds in an effort to spur the U.S. economy.
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The average American household is slipping deeper into financial distress, according to a new report. Although some progress was seen in the beginning of 2010, high unemployment and a weak housing market continue to take their…
A group of Republican economists aren’t keen on the Fed’s decision to buy $600 billion in bonds in an effort to spur the U.S. economy. They charge that the aggressive strategy — championed by Fed Chairman Ben Bernanke — could…