Since 2000, more than $140 billion of high-yield debt has been issued by US oil and gas companies in order to finance their drilling and exploration programs. Investors who put their money behind riskier oil and gas companies now face the threat of losing out. That’s because some borrowers will likely seek new financing that will be secured against the same assets which backed general claims protecting unsecured creditors of previously issued high-yielding debt. Erin weighs in.
Then, Erin sits down with Yanis Varoufakis – professor of economic theory at the University of Athens and candidate for Greek Parliament. Judging by Monday's decline in Greek bond yields, there is some improvement in investor sentiment toward Greece. However, Greece is in a political and economic crisis. Yanis tells us why Greece remains in crisis and gives us his take on whether it can achieve lasting economic growth under the current policy framework. He also explains why he is running for office, yet fears turning into a politician.
And in The Big Deal, Erin and Edward Harrison discuss increasing attempts to gut the Dodd-Frank Act. Take a look!
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