Category: Money

Federal government has dramatically expanded exposure to risky mortgages

The federal government has dramatically expanded its exposure to risky mortgages, as federal officials over the past four years took steps that cleared the way for companies to issue loans that many borrowers might not be able to repay. Now, Fannie Mae, Freddie Mac and the Federal Housing Administration guarantee

China says companies facing many difficulties due to trade frictions

BEIJING (Reuters) – Chinese companies are facing many difficulties due to trade frictions, Commerce Minister Zhong Shan said on Sunday. The United States and China have been locked in an escalating trade war for over a year. They have levied punitive duties on hundreds of billions of dollars of each

Yes, the market will eventually crash. Here’s how to be ready for the next one

A friend recently asked, “Ben, just between you and me, the market is going to crash, right?” My answer was a resounding “yes.” The stock market will definitely crash at some point. That’s just the nature of the beast. The logical follow-up question was this: “So can you tell me

Older millennials are driving home prices higher again

They might have waited longer than previous generations, but millennials are now showing a strong desire to become homeowners, especially older millennials. That is strengthening overall demand for the limited supply of homes for sale, and consequently reigniting the fire under home prices. Home price gains had been shrinking over

Why cutting Social Security benefits is a necessary evil

When it comes to Social Security, our nation’s most important social program, I’ve got good news and bad news. The good news is that, despite growing fears that Social Security could go belly up or be insolvent by the time future generations of workers retire, these concerns have no merit.

WeWork might be worth just half of its former $47 billion valuation

The office-rental company WeWork could end up being valued at less than half of what it is currently “worth” when it ends up going through with its much-watched IPO. The startup has long faced nagging questions about whether it’s been overvalued. According to a series of reports on Thursday, WeWork,

Bitcoin drops below $10,000 in sudden afternoon swoon

Bitcoin fell about $530, or 5%, in a 40-minute span after being mostly flat for the day, according to data from industry site CoinDesk, continuing a volatile year for the world’s most valuable cryptocurrency. Fellow cryptocurrency Ethereum also took a similar dive on Wednesday, dropping about 9% during the same

Federal probe into union corruption expands to General Motors

A federal investigation into misuse of millions of dollars in training center funds by Fiat Chrysler executives and United Auto Workers leaders has expanded to General Motors. Michael Grimes, a retired senior official with the union’s GM division, has been charged with wire fraud and money laundering for allegedly receiving

Stocks of companies that manufacture in China plunge

Multinationals that rely on the supply chain from China are tumbling after President Donald Trump ordered them to find alternatives to their Chinese operations. Shares of Apple, Nike and Caterpillar all tanked more than 3.5%, hitting their session lows on Friday following a Trump tweet demanding U.S. companies to pull