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…
Finance
Latest News
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?…
Study: Biden Will Raise Taxes on 80 Percent of Americans, Cut Annual Income $6,500 Per Household…
“Economists have paid too little attention to the economic effects of the Biden plan,” said Casey B. Mulligan, professor of economics at the University of Chicago…
Stunning MAGAnomic Comeback – September Retail Sales Jump 1.9 Percent, and 5.4 Percent Year Over Year…
Go read the Reuters analysis and you’ll see they are doomsaying, under the auspices that more stimulus spending is needed or the economy will collapse. Nonsense. The data is the data…
Federal Tax Judge Allows Whistleblower Case Against Clinton Foundation to Proceed…
U.S. Tax Court Judge David Gustafson denies IRS motion for summary judgment, says agency “abused its discretion” in trying to shut down inquiry….
A Longstanding Tax Break for Real Estate Investors Could Be Coming to An End…
The IRS recently issued new regulations affecting this tax break, and the Nov. 3 election could determine its future as well…
If You’re Baffled as to Why JPMorgan Chase’s Board Hasn’t Sacked Jamie Dimon as the Bank Racked Up 5 Felony Counts – Here’s Your Answer…
Is JPMorgan Chase providing a few million dollars in credit to Comcast or tens of billions of dollars?…
United States Imposes Tariffs on Aluminum Sheet from 18 Countries…
Bahrain, Brazil, Croatia, Egypt, Germany, Greece, India, Indonesia, Italy, Oman, Romania, Serbia, Slovenia, South Africa, South Korea, Spain, Taiwan, and Turkey are the 18 countries affected by the tariffs…
AG Bill Barr Announces Publication of Cryptocurrency Enforcement Framework…
“At the FBI, we see first-hand the dangers posed when criminals bend the important technological promise of cryptocurrency to illicit ends”…
Revenge of the Money Launderers by Matt Taibbi…
The “FinCen files” story reveals: getting caught doesn’t stop banks from taking dirty money. It may even encourage them…
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