Yesterday, May 2, the Puerto Rico Government Development Bank defaulted on approximately $422 million in debt payments! Long in fiscal disarray, this missed payment by Puerto Rico was merely the opening salvo in the Island’s debt crisis as over the summer approximately $2 billion more is going to be coming due. Consider for a moment why […]
(Update 11:32 AM: As if investor angst wasn’t running at a high enough level already, trading on the floor of the NYSE for ALL stocks has been suspended for an as of yet undetermined reason although off-floor third market trading is still taking place!) (Update 1:45 PM: Is yesterday’s Tweet from the cyber-hacking organization Anonymous […]
This metaphor is an attempt to describe the Greece crisis in layman’s terms (if anyone agrees, disagrees or can state it in a better way please let me know)! As the owner of a title insurance firm who witnessed firsthand the financial market and real estate industry meltdowns due to people getting in over their […]
