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Germany makes the euro crisis worse

All attempts to figure out how bad a crisis will get depend on the assumption that none of the parties will do something stupid. Germany just did. Yesterday, May 18, without any discernable coordination with the other members of the European Monetary Union, Germany...

Will they make SpongeBob do a perp walk?

 Where will the madness stop? Is no one innocent? The U.S. attorney’s office in Brooklyn today arrested two top executives at SpongeTech Delivery Systems (SPNG) for conspiracy to commit securities fraud. The company makes soap-filled SpongeBob SquarePants bath sponges...

Greek bonds get junk rating from S&P

You know that your country is in trouble when investors want 15% to buy your bonds. If you still needed confirmation of the depth of the Greek debt crisis, today Standard & Poor’s lowered its long- and short-term rating on Greek government debt to BB+ and B,...