WeWork, the flexible-office-space company, is the quintessential proof that you can’t put lipstick on a pig forever. On Tuesday, the Wall Street Journal reported that WeWork “ is planning to file for bankruptcy as early as next week….”…
Finance
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Sam Bankman-Fried Found Guilty of Fraud…
A jury was unconvinced by the ex-FTX CEO’s claims he didn’t know about billions in missing customer funds…
Americans Panic Search “Give Car Back” As Subprime Auto Loan Delinquency Erupts…
Recent data from Edmunds reveals that an unprecedented 17% of American car purchasers now have monthly car payments of $1,000, a significant increase from just 7% three years ago…
Jamie Dimon Craters Bank Stocks on Friday with Plans to Sell One Million Shares of JPMorgan Chase; Warren Buffett Isn’t Smiling…
Last Friday, at 6:32 a.m. ET, headlines started rolling with the news that Jamie Dimon, the long-tenured Chairman and CEO of the largest bank in the United States, JPMorgan Chase, was going to start selling a significant part of his sizeable stock holdings in the bank next year. The revelation came in an 8K filing with the SEC and noted that he and his family “currently intend to sell 1 million shares,” leaving open the door that he and his family might decide to sell more…
UAW Nabs Its Biggest Win in Decades…
The UAW’s historic labor agreements with the Big Three automakers mark a reversal of more than 40 years of waning power for auto unions in the U.S…
JPMorgan Settlement with Epstein Accusers Draws Objection from U.S. States…
JPMorgan Chase’s (JPM.N) $290 million class-action settlement with Jeffrey Epstein’s accusers has drawn an objection from many U.S. states, which say the accord could limit their ability to seek compensation for sexual abuse victims…
Fed’s Financial Stability Report Says $20.3 Trillion Is Subject to a Run…
Last Friday, the Federal Reserve published its Financial Stability Report, which takes a detailed look at U.S. financial stability through the second quarter of this year. Although the Fed does its best to put a rosy glow on the outlook, it’s not a pretty picture…
Bond Markets Are Being Hit Hard — and It’s Likely to Impact You…
There is a sharp sell-off in the bond market, and it has big implications on both the economy and people’s pocketbooks…
More on the Bond Market: Bond Sell-Off Has Recession Indicator Flashing New Warning Sign…
The US economy has avoided slipping into recession all year, but one closely watched indicator shows it’s on the brink…
Chinese Fraud Rings, Other U.S. Adversaries Stole Billions in Pandemic Relief Funds: Testimony…
Anti-waste and fraud controls were so lax on trillions of tax dollars being spent by federal and state government agencies on COVID-19 pandemic relief benefits that as much as half of those funds actually went to entities in China, Russia, and other U.S. adversarial nations, a congressional panel was told on Thursday…
SBF’s Private Messages with Reporters Revealed in Court…
Sam Bankman-Fried, the co-founder and CEO of the failed crypto exchange FTX, thought very little of his industry’s political intelligence, evidence revealed at his trial shows…
Vanguard Funds Invest In Chinese Military Companies, Report Says…
The Vanguard Group, one of the world’s largest asset managers, invests in Chinese military groups and companies linked to forced labor through index funds, a new report says. The report comes as the Treasury Department finalizes the rules pertaining to a White House executive order prohibiting certain outbound investments to China…
Biden’s Deputies Threaten Banks with Investigations if Loans Aren’t Given to Illegals…
It goes something like this: After coming into power by nefarious means, a group of globalist left-wing ideologues come up with a plan to ruin America, the last remaining stronghold of Western values. They open the southern border to illegal immigration, and then force the banks to give the illegal immigrants loans…
JPMorgan Chase Has Lost a Quarter Trillion Dollars in Deposits in Last 7 Quarters — Fortress Balance Sheet or Leaky Sieve?…
On May 1, the Federal Deposit Insurance Corporation announced that First Republic Bank had failed and that it was being sold to JPMorgan Chase. At the time, JPMorgan Chase was already the largest and riskiest bank in the United States…
Microsoft Must Pay $28.9 Billion in Back-Taxes…
In an 8K filed by Microsoft after the close, the company said it received notices from IRS seeking additional payment of $28.9b plus penalties and interest for the tax years 2004-2013; the payments stem from disagreements over the tax treatment of intercompany transfer pricing, a well-known corporate tax black hole…
Someone Is Inscribing All of WikiLeak’s Infamous Afghan War Logs on Bitcoin…
An unknown “Project Spartacus” has formed in an attempt to immortalize on bitcoin the thousands of Afghan War logs published by Julian Assange’s WikiLeaks in 2010…
“Surprise Move”: UAW Hits Ford’s Largest Plant in Strike…
Ford Motor Company shares fell in premarket trading after United Auto Workers significantly escalated its strikes against the automaker by targeting its largest and most profitable plant…
When Good News Is Bad News Is Good News – The Jobs Report Reversal…
Over the last two months, the S&P 500 peaked at about 4,600 at the end of July and closed today at about 4300. That about a 7% haircut for a 401k or IRA holding “the market.” Of course, this was not a straight line fall but rather quite a volatile one marked by a strong bear market trap push back to around 4,500 on September 1…
Sam Bankman-Fried Was Holed up in a Bathroom Arguing with His Mother over Text About Which Clothes He Should Wear to Jail As Police Arrived to Arrest Him for FTX Fraud…Talk About a Mama’s Boy…
Sam Bankman-Fried was arguing by text with his mother about which clothes he should wear to be arrested as police arrived at his Bahamas penthouse, according to a new biography…
Biden Isn’t Santa Claus, How Is He Getting Away with This — Forgives Another $9B More in Student Loan Debt…
President Joe Biden canceled another $9 billion in student loan debt, giving relief to 125,000 borrowers…
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