It was a straightforward question decided in a straightforward manner.
The question: with another Halogen Software Inc. equity offering in the works, what would happen to the syndicate when one of the five underwriters — specifically one of the two lead managers and book runners used in its initial public offering that was completed earlier this year — has exited the business?
When people think failed or busted Treasury bond auction, they usually imagine something out of Brazil or Russia where the government was selling obligations and nobody showed up. Of course, in the US, courtesy of the Primary Dealer system and more importantly, of a multi-trillion shadow banking system, where bonds are cash equivalent following rehypothecation and pledging for cash-equivalents with virtually no haircut, there is no risk of an auction failing in the conventional sense, at least not until Bernanke finally manages to irrevocably erode the Dollar's reserve currency status.
BEIJING — Police have detained a local official and a driver for fatally running over a 13-month-old boy during an argument with his family over the payment of a fine for violating China’s strict family planning limits, state media and the local government said Wednesday.
OTTAWA — The Conservative government has eroded the “integrity and credibility” of federal budgets through a system of secrecy that keeps parliamentarians and Canadians in the dark about how their money is spent, say two senior former officials in the finance department.
In a biting critique of the government to be published in Inside Policy magazine, former bureaucrats Scott Clark and Peter DeVries outline a troubling pattern of actions taken by the governing Conservatives since they took office several years ago.
OTTAWA — This is Ground Control to Major Marc: you didn’t make the grade.
Documents show at least two ministers’ offices helped plan a Canadarm event that snubbed Canada’s first astronaut, Marc Garneau, now a Liberal MP.
The May 2 unveiling of a Canadarm display at the Canadian Aviation and Space Museum featured dozens of VIPs as guests.
But curiously absent from the guest list was Garneau, who had operated the space arm on two space-shuttle flights and was later made president of the Canadian Space Agency.
Bailed-out insurance giant AIG is expected to repay $6.3 billion to the US Treasury from the sale of its stake in industry rival MetLife, officials said.A Treasury statement said 146.8 million shares of MetLife common stock were sold at $43.25 per share, resulting in $6.3 billion of expected gross proceeds.The proceeds will be used to pay off another chunk of the record bailout that AIG received during the height of the financial crisis.