Marketplace for Tuesday July 29, 2014
A new round of European sanctions against Russia, announced today, may also hurt US businesses that operate in Russia or have interests there. We consider the possible impact on these firms. Plus, it's looking increasingly likely that Argentina will default on some of its bonds. So what happens then? Will Argentina be consumed by hellfire? Will fear of contagion freeze the global financial markets and plunge us into another recession? Or will it be business as usual in the global bond market? Also, according to a report by the Urban Institute that came out this week, around 77 million have debt in collections. We look at what happens when a bill goes to collection, and what happens to the people who owe money.