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Chief Obamacare Architect Sacked After Fraudulent Billing Investigation…

Vermont’s Attorney General has settled the state’s claims of fraud against Jonathan Gruber, the Massachusetts Institute of Technology professor who served as a technical consultant for President Barack Obama and as one of the chief architects of Obamacare. Under the terms of the settlement, Gruber will no longer work as a taxpayer-funded economic…

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EpiPen Maker Finalizes $465M Settlement for Government Overcharges…

EpiPen maker Mylan Inc. finalized a $465 million government settlement after the U.S. Justice Department claimed Mylan overcharged the government for its EpiPen emergency allergy treatment. The settlement resolved the claims that Mylan avoided higher rebates to state Medicaid programs by classifying EpiPen as a generic product…

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White House: Rumors of Gary Cohn’s Resignation ‘100% False’…

The White House Thursday strongly denied rumors that National Economic Council Director Gary Cohn might follow other top business leaders in leaving the Trump administration. “Nothing has changed. Gary is focused on his responsibilities as NEC Director and any reports to the contrary are 100% false,” the White House said in a statement…

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California Farmer to Pay $1.1M in Fines for Plowing His Own Wheat Field Without a Permit…

President Trump has sought to help farmers by rolling back the Obama administration’s hotly contested Waters of the United States rule, but it didn’t happen soon enough to help John Duarte. The farmer from California’s Central Valley agreed Tuesday to a settlement with the Justice Department that will have him pay $330,000 in civil penalties…

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Beware the Obamacare Industrial Complex…

The danger of a Republican bailout of Obamacare is mounting with every passing day. A group of “moderate” Republicans calling themselves the Problem Solvers Caucus is quietly negotiating with Democratic leaders Nancy Pelosi and Chuck Schumer to throw a multi-billion dollar life line to the Obamacare insurance exchanges. This bailout, of course..

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Beware of the ObamaCare Bailout…

For seven years Republicans have solemnly promised to abolish the financially crumbling ObamaCare law. But now that they have struck out, many in the GOP are working behind closed doors to bail out the very program they say they hate. If they moderate wing of the party prevails and rescues the ObamaCare entitlement, the law […]

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Streaming Killed The Cable Bundle: Record 941,000 Pay-TV Customers Ditch Cable in Q2…

Back in the ancient days, long before Al Gore had even invented the internet, the Buggles declared once and for all that “Video Killed the Radio Star.” Now it seems that a remake of that classic MTV hit is in order as, with each passing quarter, it’s becoming increasingly clear that streaming has officially killed […]

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U.S. Is a Net Exporter of Natural Gas for the First Time in 59 Years…

The U.S. has been a net exporter of natural gas for three of the first five months of 2017, according to a note released by the EIA. This is historically significant, as February, April and May are so far, the only months in which the U.S has been a net exporter of natural gas since […]

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‘Bitcoen’ to Become First Electronic Currency Specifically for Jews…

Coming soon to your community may be the first ever international Jewish currency, dreamed up by a Russian entrepreneur. BitCoen, an electronic crytopcurrency based off of the idea of BitCoin, is set to launch in September. Businessman Viacheslav Semenchuk, the brains behind the operation, told Russian media outlet RT that he and his partners are…

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Corporations Remain the Biggest Threat to Free Speech…

One Google employee caused an uproar this week with a lengthy memo criticizing the company’s diversity obsession. The letter, which went viral internally at Google before getting leaked to the press, bemoaned the company’s “ideological echo chamber” and its zeal to hire workers based on their group identity rather than their skill. The document…

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Russia to Reduce Reliance on U.S. Dollar and Payment Systems…

The Russian government will intensify efforts to cut the country’s dependence on US payment systems and the dollar as a settling currency, said Deputy Foreign Minister Sergey Ryabkov on Monday, as quoted by RIA Novosti. “We will, of course, speed up the work on import substitution, reduce dependence on US payment systems, on the dollar […]

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Not All Capital Is Equal; Some Is Destructive…

Financialization incentivizes hot money capital flooding into speculative credit-asset bubbles. When we speak of capital investments and capital flows, it’s presumed all the capital being referenced is equal: a dollar is a dollar, wherever and whenever it’s put to use. But not all capital is equal, and that is one reason why the global financial…

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Federal Bank Regulator Drops a Bombshell as Corporate Media Snoozes…

Last Monday, Thomas Hoenig, the Vice Chairman of the Federal Deposit Insurance Corporation (FDIC), sent a stunning letter to the Chair and Ranking Member of the U.S. Senate Banking Committee. The letter contained information that should have become front page news at every business wire service and the leading business newspapers. But with…

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The Volcker Rule & the London Whale by R. Christopher Whalen…

News reports that prosecutors have dropped their case against Bruno Iksil, the former JPMorgan (NYSE:JPM) trader many know as the “London Whale,” comes as no surprise to readers of The IRA. Iksil, who resurfaced earlier this year, has been living in relative seclusion in France for the past few years. In previous comments posted on […]

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Fred Hickey Warns “It’s Only Question of When the Tech Time Bomb Goes Off”…

Wall Street is in a champagne mood. Last week, thanks to a rally in Apple, the Dow Jones surpassed 22,000 for the first time ever. Nevertheless, Fred Hickey doesn’t share the bubbly vein. The renowned contrarian cautions investors of an unpleasant surprise because central banks like the Federal Reserve are pulling back from their super […]

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153,513,000: Record Number of Americans Employed in July…

The number of employed Americans hit a record high of 153,513,000 in July, according to the latest numbers released by the Bureau of Labor Statistics. There were 345,000 more Americans who gained employment over the month, and more individuals joined the labor force as well. There were 349,000 more Americans who joined the labor force […]

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U.S. Created 209,000 Jobs in July, vs 183,000 Jobs Expected…

The U.S. economy continued a strong summer, adding 209,000 jobs in July while the unemployment rate fell to 4.3 percent, the lowest since March 2001, according to a government report Friday. Economists surveyed by Reuters had expected the report to show growth of 183,000; the unemployment rate met expectations. A more encompassing rate that…

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Martin Shkreli Convicted Of Securities Fraud…

Moments ago, the Martin Shkreli jury announced its verdict, and while the ex-pharma exec was found not guilty on 5 of 8 counts, he was also found guilty on 3 of 8 counts, namely count 3: Securities Fraud, count 6: Securities Fraud, and count 8: Conspiracy to Commit Securities Fraud. As a result, as Bloomberg […]

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