Puerto Rico default
$58 million – that’s the amount Puerto Rico has officially defaulted on. The commonwealth failed to pay the million dollars it owes on Public Finance Corporation bonds. On Friday, the administration for Governor Alejandro Garcia Padilla said the government simply doesn’t have the money. In other financial news, Greek stocks plummeted dramatically on Monday. Ameera David weighs in.
Erin Ade then sits down with Paul Brodsky, founder of Macro Allocation Inc. Paul gives us his take on what impact a move in the euro/dollar rate could have on private portfolio references and tells us how he would be trading other euro assets right now.
After the break, Bianca Facchinei takes a look at the arrest of Mark Karpeles – former head of the now-defunct Mt. Gox. Authorities in Tokyo arrested him for allegedly falsifying financial records in the payment service’s computer system to the tune of $1 million in 2013.
Ameera and Erin discuss how ex-trader Tom Hayes was sentenced to 14 years in jail after being found guilty of conspiring to rig Libor benchmark interest rates.
And in The Big Deal, Ameera and RT correspondent Manuel Rapalo talk about drones.
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