He still controls the city purse strings and can veto any action dealing with capital expenditures, but for the time being he is unable to put through any programs of his own.
Big banks like Citigroup are struggling to deal with surging litigation costs stemming from the credit crisis while also dealing with more stringent capital standards.
If your business also requires capital, recognize that dealing with shareholders will add an entirely new dimension to your life as an entrepreneur.
One of the earliest exotic assets was the catastrophe bond, the provision of back-up capital to insurance companies dealing with earthquakes or hurricanes.
"We basically made the decision that the government needs to get into the mortgage market, " says Dan Alpert, managing director of New York-based investment bank Westwood Capital, who has extensive experience dealing with mortgage-backed securities.
Other economists suggest that the reimposition of capital controls may actually be a useful way of dealing with a financial crisis, at least under some conditions.
By dealing with the revenue question piecemeal, the deals have wasted political capital that might otherwise be spent convincing Republicans that they could accept more in tax revenue overall, if that came in return for a real overhaul of the tax code that would generate more economic growth.
Like American Capital, Apollo Investment Corp. favored equity investments over debt investments and current is dealing with the bankruptcy hearings for its largest investment, Grand Prix Holdings (the Innkeepers USA Trust investment from 2007).
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Steve Cohen, the hedge fund titan who is dealing with the uncertainty of a government insider-trading investigation swirling around his firm, SAC Capital Advisors, has continued to post solid returns despite all the controversy.
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Everyone dealing with Iraq should be required to read Hernando de Soto's groundbreaking book, The Mystery of Capital: Why Capitalism Triumphs in the West and Fails Everywhere Else.
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