Beginning on September 17 of last year, months before the first COVID-19 case had been discovered anywhere in the world, the Federal Reserve – for the first time since the financial crisis of 2008 – jumped into the repo loan market, where financial firms borrow from each other overnight, and began making tens of billions […]
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Millions in Wuhan Virus Relief Loans Went to Chinese Real Estate Company at Center of FBI Bribery Probe…
The Trump administration loaned between $4 million and $10 million in coronavirus relief funds to a real estate company whose chairman allegedly bribed a Los Angeles city councilman with nearly $260,000 in poker chips, escort services and $600,000 in payments to settle a sexual harassment lawsuit. Jose Huizar, the city councilman, was arrested on June […]
Tracking PPP Loans…
As part of the Paycheck Protection Program, the federal government provided up to $659 billion in financial support to banks to make low-interest loans to companies and nonprofit organizations in response to the economic devastation caused by the coronavirus pandemic. Search the loans approved by lenders and disclosed by the Small Business Administration (SBA)…
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Bed Bath & Beyond Says It Will Close 200 Stores Over the Next Two Years…
Bed Bath & Beyond announced Wednesday that it plans to close about 200 stores over the next two years. The announcement came as the firm unveiled its quarterly earnings report on Wednesday. But the firm did not say what stores would be closing. Like many retailers across the United States, Bed Bath & Beyond was […]
New York’s Deutsche Bank Settlement of $150M Shines Spotlight On Epstein’s Murky Finances…
After decades of secrecy, Jeffrey Epstein’s finances are coming into clearer view with the arrest of his onetime girlfriend and longtime associate, Ghislaine Maxwell, and Tuesday’s announcement that Deutsche Bank will pay $150 million in penalties in part because of its relationship with the disgraced financier. The New York Department of Financial Services announced Tuesday […]
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Top Attorney Joins Walt Disney Heir’s Suit Against His Former Lawyer: ‘This Is the Beginning of a Much Bigger Story’…
The grandson of animator Walt Disney is suing his former lawyer for allegedly conspiring against him and simultaneously billing him for it. Now, Bill Clinton‘s former special counsel is getting involved. Attorney Lanny Davis announced he was joining the ongoing litigation in the State of Arizona on Wednesday, describing the circumstances surrounding the case as […]
USMCA: President Trump and President Lopez-Obrador Sign Joint Statement…
PRESIDENT TRUMP: Well, thank you very much, everyone. It’s a nice hot day, to put it mildly — (laughter) — so we’ll make this quick. But it’s all very positive — that, I can say. And it’s my tremendous pleasure to welcome everyone to the White House with my good friend, President López Obrador of […]
Treasury and SBA Release Detailed Paycheck Protection Data…
Together with the Treasury Department, the U.S. Small Business Administration (SBA) revealed detailed information Monday regarding the 4.9 million loans made to businesses across the United States during the CCP virus crisis as part of the Paycheck Protection Program (PPP). As of June 30, the PPP has seen over $521 billion lent through almost 4.9 […]
Developers Cancel Long-Delayed, $8 Billion Atlantic Coast Pipeline…
The developers of the long-delayed, $8 billion Atlantic Coast Pipeline announced the cancellation of the multi-state natural gas project on July 5, citing uncertainties about costs, permitting, and litigation. Despite a victory last month at the U.S. Supreme Court over a critical permit, Dominion Energy and Duke Energy said in a news release that “recent […]
Federal Judge Orders Dakota Access Pipeline to Be Shut Down…
A federal judge on July 6 ordered the Dakota Access Pipeline to be shut down and emptied while the U.S. government conducts an in-depth environmental impact review. U.S. District Court Judge James Boasberg ordered the underground oil pipeline to be emptied by Aug. 5, delivering a victory to Native American tribes after a years-long legal […]
Democratic Law Firm Behind Harvey Weinstein’s Defense Takes Million in PPP Stimulus Aid…
An elite law firm known for representing disgraced Hollywood executive Harvey Weinstein and Al Gore’s presidential campaign accepted up to $10 million in federal coronavirus aid, data released by the Small Business Administration show. Boies Schiller Flexner, a white-shoe firm founded by former Al Gore lawyer David Boies, applied for and obtained between $5 and […]
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Walmart Transforming 160 Parking Lots Into Drive-In Movie Theaters…
In May, readers may recall we said social distancing would revive drive-in movie theaters in a post-corona world. And boy, were we right. A press release via Walmart on Wednesday (July 1) said, “Walmart is transforming 160 of its store parking lots into contact-free drive-in movie theaters where customers can safely gather to watch movies […]
U.S. Seeks to Recover Approximately $96 Million Traceable to Funds Allegedly Misappropriated from Malaysian Sovereign Wealth Fund…
The Justice Department announced today the filing of civil forfeiture complaints seeking the forfeiture and recovery of approximately $96 million in assets allegedly associated with an international conspiracy to launder funds misappropriated from 1Malaysia Development Berhad (1MDB), a Malaysian sovereign wealth fund. Combined with earlier civil forfeiture complaints filed begining in July 2016, the United […]
Record-Setting Job Gains of 4.8 Million in June During Partial Economic Reopening…
Most “experts” had been forecasting around 2.5 million jobs recovered in June; however, payrolls rose by 4.8 million, far exceeding expectations. The Bureau of Labor Statistics report [Available Here] shows job recovery across-the-board, with a major bounce back in the leisure and hospitality sector gaining 2.1 million jobs. The June jobs growth of 4.8 million […]
USMCA Officially in Effect – Statement from USTR Robert Lighthizer…
First, for those who have fought for decades against the baseline flaws within the NAFTA trade agreement, today is a very memorable day. Today the USMCA officially goes into effect and the trade brokerage system exploited by Mexico and Canada is officially ended. NAFTA is DEAD! …This has been one hell of a decades-long battle. […]
Commerce Secretary Wilbur Ross Discusses China and Hong Kong – Companies Likely to Leave Hong Kong…
During an interview with Fox Business’ Maria Bartiromo, Commerce Secretary Wilbur Ross notes that companies with headquarters in Hong Kong are likely to rethink those offices with China now taking control under Beijing’s sweeping new security law. This is a significant statement and underpins the U.S. strategy that is dismantling the Chinese influence on global […]
Pharmaceutical Giant Charged with Price-Fixing in Generic Drug Probe…
The Justice Department on Tuesday charged generic drug giant Glenmark Pharmaceuticals with manipulating the prices of drugs sold in the U.S., as part of a broad federal probe of price-fixing in the generics industry. The company was charged with one count of conspiracy in restraint of trade in a filing in the Eastern District of […]
How Much of the United States Does Communist China Really Own?…
The coronavirus pandemic may have shed light on China’s influence in America over the supply chain, including life-saving medicines, technology and equipment. But some analysts believe the ongoing crisis lays bare the inroads China has made on U.S. soil. The American Security Institute recently released a report and launched a campaign, featuring a billboard in […]
83 Tons of Fake Gold Bars: Gold Market Rocked by Massive China Counterfeiting Scandal…
Over the years, we have periodically reported of the occasional gold bar discovered as counterfeit in Manhattan’s Diamond District which instead of containing the yellow precious metal would be filled with gold-plated tungsten or in some cases copper. The news would spark a brief wave of outrage, prompting physical gold holders to run ultrasound spot […]
Chinese Professor Found Guilty of Economic Espionage, Theft of U.S. Trade Secrets…
A Chinese professor was found guilty on June 26 of theft of trade secrets, and the more serious charge of economic espionage, the latest conviction in the Trump administration’s clamp down on Chinese state-sanctioned theft of American intellectual property. A federal judge in San Jose, California found Zhang Hao, 41, guilty after a four-day trial. […]
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