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The Best in Alternative News

Trump Says Fed ‘Has Gone Crazy’ Following Stock Market Selloff…

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President Donald Trump again criticized the Federal Reserve for raising interest rates, calling it a “mistake” hours after the worst U.S. stock market sell-off since February. “The Fed has gone crazy,” he told reporters on Wednesday as he arrived in Pennsylvania for a campaign rally. “So you can say that well that’s a lot of […]

Vulture Funds Stand to Make Millions in Wake of Hurricane Maria…

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Vulture funds scooped up hundreds of millions of dollars worth of Puerto Rican debt after Hurricane Maria hit — underwritten by Wall Street and purchased at a massive discount, according to new numbers compiled by the nonprofit LittleSis and provided to The Intercept. Now it’s time for the payoff. A deal agreed to last week […]

Ten Years After the Crash, We’ve Learned Nothing by Matt Taibbi…

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Ten years ago, on Saturday, September 13th, 2008, the world was about to end. The New York Federal Reserve was a zoo. Imagine NASA headquarters on the day a giant asteroid careens into the atmosphere. That was the New York Fed: all hands on deck, peak human panic. The crowd included future Treasury Secretary Timothy […]

The Dow Is on the Verge of Busting Out of Correction Phase…

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The Dow Jones Industrial Average was on the brink of bursting out of correction territory for the first time in more than six months, underscoring some signs of renewed optimism on Wall Street. The blue-chip benchmark has so far failed to trade 10% above the closing low of 23,533.20 hit on March 23, but could […]

Facebook Has Worst Day in Wall Street History…

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A historic drop in Facebook stock pulled technology stocks lower on Wall Street, even as other sectors climbed. Facebook plummeted 19 percent Thursday after warning of slower growth ahead, erasing more than $100 billion in value. The drop was the largest one-day loss in value of any publicly traded company in history, according to the […]

Small Banks Trump Wall Street on Dodd-Frank Rewrite…

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Congress on Tuesday rolled back some of the restraints imposed on banks after the 2007-2009 global financial crisis, but big players like Goldman Sachs Group Inc (GS.N), Morgan Stanley (MS.N) and JPMorgan Chase & Co (JPM.N), will not be breaking out the champagne. While Wall Street banks lobbied hard for a range of provisions that […]

U.S. Stocks Snap Selling Spree to Close Higher in Volatile Trading…

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The U.S. stock market halted its death spiral to close higher Tuesday after a wild day of trading that saw the Dow ricocheting more than 1,000 points, underscoring a new regime of volatility on Wall Street. The turnaround, which follows on the heels of the blue-chip index’s worst one-day point decline on Monday, helped to […]

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