A federal appeals court overturned a $1.3 billion judgement against Bank of America, ruling that good intentions at the outset shield bankers from fines for subsequent fraud... “Is the idea that a good state of mind initially can insulate you from fraud later on?” exclaimed one law professor, adding, "that would be a very strange and troubling doctrine...it almost seems like the 2nd Circuit fell victim to a lawyer’s trick."
As one sharp Florida realtor explained..."The problem is that investors are no longer buying, and now they're going to be looking to sell..."
With Libertarian Party registrations soaring, and the two establishment party presidential candidates vying for most-hated in history, it seemed approproate to explain the five major pieces of the Libertarian Party platform, as well as some issues its platform committee on Saturday is looking to change for this year...
"It's cheaper to build a dancing robot than it is to hire another Jasmine or Tiffany at $15 an hour..."
"as much as I want to debate Bernie Sanders - and it would be an easy payday - I will wait to debate the first place finisher in the Democratic Party, probably Crooked Hillary Clinton, or whoever it may be."
If the Trump/Sanders debate proceeds as planned in California, you’re about to witness one of the most important moments of a 2016 general election that hasn’t even begun yet. To say such a debate would be an unmitigated disaster for Hillary Clinton would be the understatement of the century. Let’s explore why.
"The failure of American consumption to pick up over the past year and more in the manner expected can be explained not just by increased consumer caution but also by the increasing costs of two essentially nondiscretionary items for most Americans. That is the soaring cost of medical care and the rising cost of rents." That will be all.
In a stunning reversal for an organization that rests at the bedrock of the modern "neoliberal" (a term the IMF itself uses generously), aka capitalist system, overnight IMF authors Jonathan D. Ostry, Prakash Loungani, and Davide Furceri issued a research paper titled "Neoliberalism: Oversold?" whose theme is a stunning one: it accuses neoliberalism, and its immediate offshoot, globalization and "financial openness", for causing not only inequality, but also making capital markets unstable.
US-led coalition air and artillery strikes have killed 70 ISIS fighters in Fallujah, including the militants’ leader in the Iraqi city, a military spokesman said Friday. Baghdad-based Colonel Steve Warren said that over the last four days, 20 strikes in the besieged city had destroyed ISIS fighting positions and gun emplacements. “We’ve killed more than 70 enemy fighters, including Maher Al-Bilawi, who is the commander of ISIL forces in Fallujah."
The crisis in Venezuela is the most modern illustration of the horrific consequences of socialism and the devastating reality of hyperinflation. What makes this disaster all the more infuriating is that it could have been avoided with a basic understanding of history. We’ve seen the disaster of socialism and interventionism in various forms play out across the world time and time again with similar results, and yet new generations of central planners — backed by ideologically aligned intellectuals — are consistently able to fool people into believing that “this time will be different.”
*YELLEN: ECONOMY IS CONTINUING TO IMPROVE
*YELLEN: WITH GAINS, HIKE IN COMING MONTHS MAY BE APPROPRIATE
*YELLEN: DON'T HAVE TYPICAL SCOPE TO CUT RATES IN CASE OF SHOCK