The number of words in a research note put out by an analyst at Oppenheimer Asset Management. It read, “We have no new thoughts. Sell.” (WSJ)
Subprime real estate lending nearly destroyed the U.S. economy in 2008. There’s news today that subprime lives on for auto loans, 15% of which are subprime. (WaPo)
In 2009, Apollo Global Management bet $2 billion on polypropylene maker LyondellBasell Industries. Now Apollo is cashing out to the tune of $ 9.6 billion, which Bloomberg calculates to be “the biggest gain ever on a private-equity investment.” (Bloomberg)
Come July 1, the interest rate on new subsidized Stafford student loans could double from 3.4 percent to 6.8 percent. Curious what that means for you? Read our break down here. (Marketplace)
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