NEW YORK, Dec 10 (Reuters) - Oil prices slumped to five-yearlows on Wednesday and U.S. and European equity markets fell asinvestors, worried about the Greek and Chinese economies,withdrew from riskier positions and bought Japanese yen, whichrose against the U.S. dollar.
Orr said court-ordered mediation on fees paid to consultants during the bankruptcy process was continuing on Wednesday. Outside lawyers and consultants charged the city more than $140 million, sparking protests from Duggan. Orr said some of the issues were "resolved last week."
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"If interest rates were allowed to rise, it would not be too long until interest-rate expenses consumed an unmanageable portion of your tax revenues," said John Mauldin, chairman of Mauldin Economics, based in Dallas, Texas.