Economy

Local governments in Russia have been borrowing at an unsustainable rate. Now Putin has three years to escape a $42 billion debt trap.

Third bailout is aimed at keeping Greece in common currency.

Third bailout is aimed at keeping Greece in common currency.

Wake-up call is painful for investors who've gotten used to big returns on junk debt.

Wake-up call is painful for investors who've gotten used to big returns on junk debt.

Government report blames banks and high-frequency traders for severe volatility in Treasuries market last Oct. 15; banks blame new liqudity rules.