The math simplified: JPM has spent $1 billion over the lifetime of its precious metals rigging, ensuring it has full indemnity from future manipulation claims, allowing allow it to make $1 billion in revenue in just one year…
Finance
Latest News
Hundreds of Companies That Got PPP Loans Have Gone Bankrupt…
The total number of companies that failed despite getting PPP loans is likely far higher. The Journal only analyzed the big borrowers from the program, which accounted for about half of the overall loans though only about 13.5% of the total participants…
Soybeans Near $12 Per Bushel As U.S. Farmers Celebrate Surging Prices…
“It started with better-than-expected demand, particularly from China as they bought soybeans because they needed them as part of the Phase 1 trade deal,” he said…
JPM Sees Stock Surge In 2021 As Trillions in “Unlocked” Liquidity Flood into the Market…
Although it has had a negative impact in the short term, the reemergence of lockdowns and resultant growth weakness could bolster the above equity upside over the medium to longer term via inducing more QE and thus more liquidity creation…
S&P 500 Adds to Record…
Dow Heads for own on Vaccine Hopes…
President Trump Signs Executive Order to Block Investment in Businesses Benefiting China’s Military…
The order prohibits such investments beginning on Jan. 11…
Jobless Claims Dropped to 709k Last Week As Labor Market Heals Slowly…
Additionally, states reported nearly 300,000 initial claims for Pandemic Unemployment Assistance, a new category of eligibility created by the March CARES Act that provides benefits for workers sidelined by the pandemic, such as gig workers whose work dried up…
Fancy That!: Pfizer’s CEO Dumps 62% of His Stock On COVID Vaccine Announcement …
Despite the sale being perfectly legal under Rule 10b5-1 to avoid accusations of insider trading, the optics aren’t great for Bourla…
J.C. Penney Rescue Deal Approved in Bankruptcy Court…
J.C. Penney filed for bankruptcy in May with nearly $5 billion in debt. The company was one of several retailers, including J. Crew Group Inc, Neiman Marcus Group and Brooks Brothers that sought Chapter 11 protection amid the coronavirus pandemic…
Senator Sherrod Brown Calls for Breaking Up the Wall Street Banks; Elizabeth Warren Tells Fed: “I Don’t Believe You’re Doing Your Job”…
“We have to break up the biggest banks, and give that power to everyone else who has been denied a voice in our economy…
MAGAnomics: Manufacturing Orders Jump Highest in 17 Years – 3.4 Percent Higher Than Pre-Pandemic Levels…
The manufacturing sector inventories are low, that means this cycle of replenishment will continue for some time. Orders for customer goods continues to drive expansion, investment and operational increases in productivity…
V-Shaped Recovery Achieved – Third Quarter GDP Growth a Record Breaking 33.1 Percent…
Despite several blue states attempting to stall their economic recovery, overall the economy is rebounding as expected. Obviously the threat of COVID has been weaponized as an election strategy…
Why Biden’s Tax Hikes Matter: U.S. Households Sit on $1 Trillion in Unrealized Capital Gains…
Vice President Biden has proposed taxing these as ordinary income for filers with over $1 million in annual income. This would roughly double the tax rate on capital gains and dividend income from 23.8% to 43.4%…
Under Trump, America Became a Net Exporter of Natural Gas and Crude Oil for the First Time in More than Fifty Years…
The Trump administration has championed the responsible cultivation of America’s plentiful energy resources, including oil and natural gas…
Walmart Files Pre-Emptive Lawsuit Against Federal Government in Opioid Case…
Walmart, which operates more than 5,000 in-store pharmacies in the U.S., said the government’s “threatened action would be unprecedented.”…
Justice Department Announces Global Resolution of Criminal and Civil Investigations with Opioid Manufacturer Purdue Pharma and Civil Settlement with Members of the Sackler Family…
Today’s resolution does not resolve claims that states may have against Purdue or members of the Sackler family, nor does it impede the debtors’ ability to recover any fraudulent transfers…
Goldman Sachs Criminally Charged by Justice Department – and Its Stock Closes Up $2.49…
The U.S. Department of Justice is being played like a fiddle at a tractor meet. Those big white shoe law firms that handle increasingly dirty cases against the mega banks on Wall Street have twice, in a period of just three weeks, managed to get the Justice Department to announce settlements of landmark criminal cases against two of the largest banks on Wall Street on the day of presidential debates when the public and the media are not paying attention to Wall Street…
Senate Democrats Block $500B Wuhan Virus Aid Package a Second Time…
“Once again, Democrats will choose nothing over something, that if they can’t get everything they want, it’s better for Americans not to have anything,” Senate Majority Whip John Thune
Poland Strikes $18 Billion Nuclear Power Deal with U.S….
While the deal is not yet final, there is a pretty good chance that Warsaw will pick the U.S. over its main competitors on the international nuclear energy scene, namely China and Russia…
Showtime at Apollo: Leon Black’s Ties with Epstein Reviewed by Private Equity Giant…
…according to Bloomberg, “For decades billionaire Leon Black turned to Jeffrey Epstein for financial advice.” But why would a billionaire financier need Epstein, who was through and through clueless about any sophisticated areas of finance, need to pay Epstein tens of millions for advice?…
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