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Default

High interest rates are risky business

by Sabri Ben-Achour
Jul 26, 2023
Higher interest rates hit businesses in multiple ways. The longer rates remain elevated, the harder it gets.
Corporate borrowers' interest payments have jumped, says Nick Kraemer at S&P Global Ratings.
Peter Dazeley/Getty Images
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Why banks are setting aside cash to cover bad loans

by Justin Ho
Oct 18, 2022
When the economy starts looking scary, bank executives have to make a judgment call about their outstanding loans.
Banks are setting aside extra money in case of a recession, which could lead to loan defaults. Think of it like hoarding acorns for winter.
Richard Heathcote/Getty Images
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Raising the Debt Ceiling

The debt ceiling explained

by Dylan Miettinen
Sep 24, 2021
If Congress fails to raise or suspend the debt limit, it won’t cause a government shutdown. But it could mean a failure to pay Social Security benefits and federal salaries. 
Storm clouds gather near the U.S. Capitol on Sep. 22, in Washington, D.C.
Anna Moneymaker via Getty Images
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Why are subprime auto loans still a thing?

by Jana Kasperkevic
Jun 21, 2017
Did we not learned anything in 2008?
A sign advertises easy credit at a used car dealership in Chicago, Illinois. 
Scott Olson/Getty Images
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Stranded — Puerto Rico in debt

This Puerto Rico default is different

by Andy Uhler
Apr 29, 2016
Puerto Rico is about to miss an interest payment on the most secure level of bonds.
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A brief history of Argentina's strange, complicated default

by Tony Wagner
Mar 23, 2016
It's been a long road from financial ruin to Tuesday's visit from Obama.
U.S. President Barack Obama delivers a speech during a state dinner with Argentine President Mauricio Macri at the Kirchner Cultural Centre in Buenos Aires on March 23, 2016. The United States and Argentina sealed a major trade deal on the eve -the first day of President Barack Obama's visit- bolstering the efforts of his counterpart to end a decade-and-a-half of international financial isolation.
NICHOLAS KAMM/AFP/Getty Images
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Student loan default rates don't tell the whole story

by David Gura
Sep 23, 2014
Colleges can game the system to hide their students’ problems with debt.
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Argentina defaults

by Lizzie O'Leary
Aug 1, 2014
Talks broke down between Argentina and some of its bondholders, triggering default. Tim Fernholz, reporter for Quartz, explains.
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Raising the Debt Ceiling

What does all of this talk about default really mean?

by Paddy Hirsch
Oct 16, 2013
Make no mistake, if the U.S. government defaults on its debt obligations, it will be a catastrophe. But the media has been misusing the term.
Reporters stand outside the Speaker of the House's office on Capitol Hill in Washington, DC, October 15, 2013, waiting for comments from the Republican leadership.
JIM WATSON/AFP/Getty Images
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By The Numbers

A debt-ceiling roadmap to ruin?

by Jonathan Karp
Oct 15, 2013
The paydays that could prompt a government default if a debt-ceiling deal collapses.
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