Originally published on Thu March 8, 2012 11:01 am
Update at 1:55 p.m. ET. The House Passes JOBS Act:
Saying that it shows the federal legislature can work in a bipartisan fashion, the Republican-controlled House passed the JOBS Act, which was supported by President Obama.
"It is a welcome sign that we can put our differences aside and work together to produce results to help boost the economy and get people back to work," House Majority Leader Eric Cantor, R-Va., said, according to the AP.
Private creditors holding Greek bonds have until the end of today to participate in the largest sovereign debt restructuring in history. This means creditors must exchange the Greek government bonds they now hold for new ones that are worth far less. Some creditors are balking, since it means up to a 70 percent loss on their returns.