Think of it as the same sort of alchemy that briefly turned sub-prime mortgages into investment grade bonds (before they turned back again into the financial equivalent of toxic waste).

Last year, the City of Duluth invested 3 million dollars in Mainsail-a commercial paper asset. At the time it was thought to be a very safe investment...then the bottom fell out. Joel Runck has the details.

Sen. Christopher J. Dodd didn’t have to disclose the two controversial mortgages he obtained in 2003 through a “VIP” program at Countrywide Financial Corp. because of a loophole in the Senate’s ethics rules, a Washington-based campaign finance wat

Fitch assigns a rating of 'AA/F1+' to the Vermont Housing Finance Agency's (the agency) $20.0 million multiple purpose notes 2008 series A and $21.9 million multiple purpose notes 2008 series B. The notes are expected to sell this week and are the thir

April 24 (Bloomberg) -- U.S. stocks rose for the first time this week after better-than-estimated profits at technology, industrial and tobacco companies overshadowed declines in banks and commodity producers.