Largely overlooked last week in the wake of President Donald Trump’s court battle was another controversial judicial ruling. On Thursday the US Court of Claims rewarding Moda Health, an Oregon-based health insurer, $214 million for losses it took participating in the high risk insurance pools established under the Affordable Care Act. The dispute came after […]
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“Something Snapped” – Stocks Decouple As VIX Call Volume Explodes…
As one veteran trader noted “something snapped” two days ago as VIX and US equities decoupled notably for the first time since the election. This morning VIX is surging once again (near 12) at the same time as US stocks are soaring…
Wall Street Banks Are Trading in Their Own Company’s Stock: How Is This Legal?…
The week that Donald Trump shocked markets around the globe by getting himself elected President of the United States, Wall Street banks like Citigroup, JPMorgan Chase, Bank of America and others traded millions of shares of each other’s stocks – as well as trading millions of shares of their own publicly traded stock…
Dow Hits 20,500 – Hawkish Yellen Sparks (Another) Buying Panic In Banks, Batters Bonds…
86 days in a row without a 1% drop… Buy The No Dip…
$1.08 Trillion: Gov’t Collects Record-High Taxes in First Four Months of Fiscal 2017…
The federal government collected a record $1.08 trillion in taxes in the first four months of fiscal year 2017, but the federal government still ran a $157 billion deficit during that time, according to the latest monthly Treasury Department statement. Treasury receipts include tax revenue from individual income taxes, corporate income taxes, social insurance and […]
Wall Street Journal Goes With “Alternative Facts” in Hank Greenberg Saga…
In 2005 and 2006, Wall Street Journal reporters distinguished themselves in covering the charges of fraud being hurled at the giant insurer AIG and its CEO, Maurice (Hank) Greenberg. At that point, the Bancroft family had owned the Wall Street Journal for more than a century. But in 2007, Rupert Murdoch and his corporate entity, […]
How to Close a Gender Gap: Let Employees Control Their Schedules…
The main reason for the gender gaps at work — why women are paid less, why they’re less likely to reach the top levels of companies, and why they’re more likely to stop working after having children — is employers’ expectation that people spend long hours at their desks, research has shown. It’s especially difficult […]
Time for Tesla to Listen by Jose Moran…
I’m proud to be part of a team that is bringing green cars to the masses. As a production worker at Tesla’s plant in Fremont for the past four years, I believe Tesla is one of the most innovative companies in the world. We are working hard to build the world’s #1 car — not just electric, […]
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A Rash of Invisible, Fileless Malware Is Infecting Banks Around the Globe…
Two years ago, researchers at Moscow-based Kaspersky Lab discovered their corporate network was infected with malware that was unlike anything they had ever seen. Virtually all of the malware resided solely in the memory of the compromised computers, a feat that had allowed the infection to remain undetected for six months or more. Kaspersky eventually […]
Judge Blocks $48 Billion Anthem-Cigna Merger…
A federal judge on Wednesday ruled against U.S. health insurer Anthem Inc’s proposed $54 billion merger with smaller rival Cigna Corp, derailing an unprecedented effort to consolidate the country’s health insurance industry. The U.S. Justice Department sued in July to stop Anthem’s purchase of Cigna, a deal that would have created the largest U.S. health […]
San Francisco to Offer Free College for All…
“Even the children of the founders of Facebook” will now receive free community college education in San Francisco, Supervisor Jane Kim proudly commented as city leaders agreed to become the first city in the nation to offer its citizenry this ‘basic human right’…
Former Federal Reserve Staffer Says Economists at Central Bank Don’t Know How Economy Works…
A former staffer at the Federal Reserve Bank of Dallas has criticized the central bank, saying economists employed there don’t know how finance and the economy works, the Wall Street Journal reported. Danielle DiMartino Booth was hired as an adviser to Richard Fisher, a former president of the Dallas Fed who also criticized quantitative easing—the […]
SoCal Gas to Pay $8.5N to Settle Lawsuit over Aliso Canyon Leak…
Southern California Gas Co. will pay $8.5 million to settle a lawsuit filed by air quality regulators over the nearly four-month Aliso Canyon gas leak and will fund a study of potential community health impacts. Under a settlement signed Wednesday with the South Coast Air Quality Management District, the utility will pay $5.65 million in […]
Intel Investing $7B in Arizona Facility, Creating 3k High-Wage Jobs…
Intel Corp. announced plans today to invest more than $7 billion to complete the most advanced semiconductor factory in the world in Chandler. The completion of the high-volume factory, known as Fab 42, will take three to four years and create 3,000 high-tech, high-wage Intel jobs for process engineers, equipment technicians and facilities support engineers […]
More Unbelievable Facts From The US Government’s Own Financial Reports…
Yesterday I told you that the US government had recently released its annual financial report to the public. And the numbers are pretty gruesome. For example, the government’s “net loss” in fiscal year 2016 more than doubled, from MINUS $467 billion to MINUS $1 trillion. It’s astonishing that anyone could manage to lose so much […]
Seattle Just Divested Billions from Wells Fargo over Dakota Access Pipeline…
The movement to stop the controversial Dakota Access pipeline through financial activism took an important step forward today, as the Seattle City Council voted 9-0 to approve a bill that terminates a valuable city contract with Wells Fargo. The bank, one of the largest in the United States, has provided more than $450 million in […]
Budweiser Boycott Launched over Super Bowl Commercial…
A small American brewer is encouraging consumers to ditch Anheuser-Busch in response to the company’s Super Bowl commercial and vow only to drink “anti-globalist beer” in the future. William Kelly, owner of Citizen Kelly’s Irish Ale, said the commercial recounting beer tycoon Adolphus Busch’s journey to America from Germany was politically charged…
Trump Is Right: Germany Is Running an Illegal Currency Racket…
As a matter of strict objective fact, Donald Trump’s trade guru is correct. Germany is the planet’s ultimate currency manipulator. The implicit Deutsche Mark is indeed “grossly undervalued” The warped mechanism of monetary union allows Germany to lock in a permanent ‘beggar-thy-neighbour’ trade advantage over Southern Europe, inflicting mass unemployment on…
U.S. Tax Evaders Could Lose Passport and Face Travel Ban…
The US Internal Revenue Service (IRS) says that under the so-called FAST Act it will start certifying tax debt to the State Department, which may then refuse to issue or renew a taxpayer’s passport. The FAST Act (Fixing America’s Surface Transportation Act) was passed by the Congress and signed into law by President Obama in […]
Shocking Fact in Today’s Job Report: Employment Stalls…
Today’s employment report shows a robust increase of 227,000 jobs. The good news stops there. The rest of the report was horrific. The big news is in employment where the three-month trend worsened. In the last three months, employment has only risen by a grand total of 33,000. Employment in January declined by 30,000. For […]
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