Finance

3:14pm

Fri June 14, 2013
Business

Housing Market Watchers Edgy As Mortgage Rates Keep Climbing

Originally published on Fri June 14, 2013 4:12 pm

Home values have been rising in recent months, but mortgage rates have taken a rapid turn upward as well. Some investors are worried that the housing recovery may stall if mortgage rates jump too quickly.
Gene J. Puskar AP

Mortgage rates have seen a relatively sharp rise this month. The average 30-year fixed-rate loan hit 4 percent earlier in June — a big jump from the record lows of recent years. Some investors are now concerned that the housing recovery could be stifled if rates continue to rise quickly.

The Federal Reserve has two main missions: to maximize employment and minimize inflation. Right now, there are few, if any, signs that prices for goods are spiking, and the job market is still crawling out of its long, deep slump.

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3:34am

Fri June 7, 2013
Business

Ill. Assembly Called Back To Work On Pension Fund Shortfall

Transcript

RENEE MONTAGNE, HOST:

NPR's business news starts with pension problems for Illinois.

(SOUNDBITE OF MUSIC)

MONTAGNE: The credit rating for the state of Illinois has taken another step closer to junk bond status. Illinois already had the lowest credit rating in the nation before it was downgraded again this week by Moody's and Fitch. The state legislature adjourned last week without addressing a $100 billion pension shortfall.

So as NPR's David Schaper reports, the governor is calling lawmakers back.

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1:24am

Wed June 5, 2013
Adventures In Investing

Resisting The Temptation To 'Win' When Investing

Originally published on Wed June 5, 2013 6:17 pm

Hey mutual fund investors: Think you can beat the market? Charley Ellis, who's worked in investment management for 50 years, doubts it. That's because the fees actively managed funds charge can get expensive.
Richard Drew AP

NPR's Uri Berliner is taking $5,000 of his own savings and putting it to work. Though he's no financial whiz or guru, he's exploring different types of investments — alternatives that may fare better than staying in a savings account that's not keeping up with inflation.

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1:28am

Tue June 4, 2013
Author Interviews

Book Explores Downfall Of An Indian-American Business Icon

Originally published on Tue June 4, 2013 6:10 am

Rajat Gupta, former Goldman Sachs director and former senior partner at McKinsey & Co., was sentenced to two years in prison for leaking inside information to hedge fund manager Raj Rajaratnam.
Spencer Platt Getty Images

Rajat Gupta was one of the wealthiest and most successful men in America and an icon of the Indian-American community. Today, he faces two years in prison for insider trading, convicted of passing corporate secrets to his billionaire friend and Galleon Group founder Raj Rajaratnam.

Gupta was already a wealthy man; what was the motive for his crime? In The Billionaire's Apprentice:The Rise of the Indian-American Elite and the Fall of the Galleon Hedge Fund, journalist Anita Raghavan tries to answer that question.

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2:14pm

Mon June 3, 2013
Business

Investigation Continues At Troubled Hedge Fund

Originally published on Mon June 3, 2013 4:53 pm

Transcript

AUDIE CORNISH, HOST:

The federal probe of a hugely successful hedge fund may have investors ready to pull out much of their money. SAC Capital is under investigation for insider trading. Several published reports indicate outside investors are worried about that investigation and whether it will touch Steven Cohen, the firm's founder.

NPR's Jim Zarroli reports.

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