A U.S. judge says Argentina must repay hedge funds that own bonds the country had defaulted on in 2001. Argentina has asked for a stay in the ruling. Stephen Nelson, a professor of political science at Northwestern University who specializes in the politics of debt, explains the case.
WASHINGTON — A special deficit-reduction supercommittee appears likely to admit failure on Monday, unable or unwilling to compromise on a mix of spending cuts and tax increases required to meet its assignment of saving taxpayers at least $1.2 trillion over the coming decade.The panel is sputtering t
Chicago Mayor Rahm Emanuel on Wednesday announced another crackdown on people who owe the city money.If you have unpaid parking tickets, or bank property fees and fines you haven't taken care of yet, Mayor Emanuel said it's time to pay up.
Updated 8/8/11 at 4:00p.m.CTThe Dow Jones Industrial Average posted one of its biggest single day losses in history Monday as the Dow dipped below the 11,000 mark for the first time since October, 2010. Similar declines were posted on the S&P 500 and the Nasdaq, each of whi