In a stark sign of the economic inequality that has marked the pandemic recession and recovery, Americans as a whole are now earning the same amount in wages and salaries that they did before the virus struck — even with nearly 9 million fewer people working. The turnaround in total
Americans as a whole are now earning the same amount in wages and salaries that they did before the virus struck — even with nearly 9 million fewer people working
Hedge Funds Enter Credit Suisse Bribery Fight With Mozambique
Jonathan Browning, Bloomberg News A logo hangs above the entrance to the Credit Suisse Group AG headquarters in Zurich, Switzerland, on Friday, April 17, 2020. Credit Suisse compensated managers and employees with additional shares in the bank after the price dropped sharply during the depths of a market correction spurred by the coronavirus outbreak. Photographer: Stefan Wermuth/Bloomberg , Bloomberg
(Bloomberg)
Hedge funds VR Capital Group Ltd. and Farallon Capital Partners LP have filed lawsuits against both Credit Suisse Group AG and the government of Mozambique over a $2 billion debt scandal.
VR Capital, which is led by Richard Deitz, and Farallon are suing the investment bank in London over its involvement in arranging loans for a series of unsuccessful maritime projects in the southern African country, according to a legal filing thatâs been made avai
An annual tradition at
Liberty Street Economics is to present our most‑read posts of the year. Given the events of 2020, New York Fed economists and guest coauthors focused their analysis on the effects of the coronavirus pandemic, writing some seventy articles since March on the subject.
Our leading posts, in terms of traffic, all touch on the theme in some way. Consider this space a hub for COVID-19 coverage for some time to come, and take a look back at the top five posts grabbing attention in 2020.
Our top post of the year took on a topic of significant relevance for policymakers today: What are the economic costs of a pandemic and do closures and quarantines worsen the bite? A look at the U.S. experience of the 1918 flu pandemic yielded some insights. Although the regions worst hit in that outbreak fared poorly, cities that acted earlier and more aggressively with non-pharmaceutical interventions, such as social distancing, emerged stronger. For example, reacting ten days