Essentially, Jefferies& Co. has become the world's first crowd sourced investment bank - people tell them what assets or exposure on the balance sheet they're nervous about and Jefferies goes out and makes those changes.
Stock markets in the US and Europe fell Tuesday, stunned by news that Greeks will vote in January on national austerity measures tied to resolving Greece's sovereign debt woes.
Will this crisis ever be over?! The nations of the eurozone seem to be fighting endless battles to address fears about government finances. The worry is that unsustainable national debt loads will result in default, a financial panic, or a costly repair effort that puts a squeeze on the economy in Europe and beyond. Here's a backgrounder on the problem, its consequences, and possible ways forward.
The Dow lost 108 points to close at 11401 as investors worried that Greece will default on its loans.
Europe's debt crisis has roiled financial markets and populations. But beyond nationwide strikes and gyrating markets, Europe has put its crisis to good use. Here are five trends that will ultimately strengthen the European Union and the euro currency.
German Chancellor Angela Merkel meets with French President Nicolas Sarkozy today to coordinate a strategy for coping with Europe's expanding debt crisis.
Portugal and Ireland may follow Greece in asking for more financial help, which could drive up the cost of borrowing money across Europe and elsewhere.
Obama welcomes Chancellor Merkel on the first state visit of a European leader during his term. But tensions challenge the 'indispensable' alliance between the US and Germany.
Mexico's central bank chief Agustín Carstens faces an uphill battle against French frontrunner Christine Lagarde, who this week is lobbying India, China, and Egypt for support.