To get the subprime mess off its books, the Swiss bank UBS is selling $15.5 billion-worth of mortgage-backed securities to private investment firm BlackRock. And it's lending BlackRock $11 billion to do it. Ashley Milne-Tyte reports.
A computer glitch at the Moody's credit-rating service reportedly gave a complicated kind of mortgage-backed security the coveted AAA rating when it should have been rated much lower. And Moody's kept it there for a year. Ashley Milne-Tyte reports.
If you're looking for a new investment venture, how about $4,500 for a pair of rare Nikes? Stephen Hoffman reports it's not uncommon for some collectors to spend thousands of dollars on high-value kicks.
We're starting to get a better explanation of why banks invested in those atrocious mortgage-backed securities. Stephen Beard reports a glitch with triple-A ratings could have been partially responsible.
For the first time, cancer doctors and researchers have put the abstracts of their cancer studies online in advance of their major annual meeting later this month. And you can bet Wall Street has been poring over the reports. Janet Babin has the story.
Blackstone releases its first-quarter profits today on the heels of a 90 percent profit loss for last year. Jill Barshay reports analysts are forecasting big changes in practice for the private-equity industry.
German President Horst Kohler is calling for tougher regulations on the banking industry, which he believes created a "monster" within the global financial markets. Stephen Beard reports discontent is echoed in Germany.
One of the most significant innovations for developing countries has been microfinance, giving small loans to poor entrepreneurs. Commentator and economist Dean Karlan says microlending is a valuable tool, but it needs more creativity to keep growing.
