Good Day, Bad Day
Good deeds, safety in houses
GOOD DAY FOR: Good deeds, after deep-pocketed philanthropist Bill Gates fell to No. 3 on Forbes’ annual list of the world’s wealthiest people, following new No. 1 Warren Buffett and runner-up Carlos Slim Helu of Mexico. Gates gave $695 million to his foundation last November. Still, he raked in $2 billion last year, bringing his remaining fortune to $58 billion. Buffett is worth $62 billion. (Bloomberg)
BAD DAY FOR: Safety in houses, after private equity giant Carlyle Group’s publicly traded Carlyle Capital Corp., which buys investment-grade mortgage bonds, was served a default notice for failing to meet margin calls. Carlyle said the market was undervaluing the assets in question, mostly AAA-rated bonds from Fannie Mae and Freddie Mac. (Reuters)
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