It is the 17th of December 2017

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NYC Subway Managers Receive $300,000 Salaries While MTA Cuts Mechanics

During a  long-ranging investigation, The New York Times interviewed more than 300 people and poured over thousands of documents to sketch out the history of neglect, abuse and mismanagement that fostered the New York City subway's current state of crisis in what's probably the most comprehensive explanation of the woes plaguing the MTA.

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Venezuela, PDVSA CDS Triggered: ISDA Says Credit Event Has Occured

In a long overdue, and not exactly surprising decision, moments ago the ISDA Determination Committee decided, after punting for three days in a row, that a Failure to Pay Credit Event has occured with respect to both the Bolivarian Republic of Venezuela as well as Petroleos de Venezuela, S.A.

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Hartford Could Default On Its Debt As Soon As Next Month, Moody's Says

Moody’s latest warning about Hartford Connecticut is its most dire yet.

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Is Bridgewater A Fraud? Here Are The Troubling Questions Posed By Jim Grant

Jim Grant, author of Grant's Interest Rate Observer, first hinted last week that not all is well when it comes to the world's biggest hedge fund, Ray Dalio's $160 billion Bridgewater (of which one half is the world's biggest risk-parity juggernaut). Speaking to Bloomberg last week, Grant said he was "bearish" on Bridgewater because founder Dalio has become "less focused on investing, while the firm lacks transparency and has produced lackluster returns."

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After Losing Millions To Nigerian Scammers, A Bankrupt Boris Becker Is Liquidating His Assets

It has already been one of the most remarkable rags to riches and then back to rags - with a bankruptcy on top - stories ever, and it is getting more bizarre by the day.

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