DC Leaks' latest hacking victim is non other than White House staffer Ian Mellul who, apparently like everyone else in Washington DC, conducted all of his official White House business through his personal gmail account.
Unwittingly, the Fed has now become co-dependent on the markets. If they move to tighten monetary policy, the market sells-off impacting consumer confidence and pushes economic growth rates lower. With economic growth already running below 2%, there is very little leeway for the Fed to make a policy error at this juncture. Therefore, the Fed remains trapped between keeping the financial markets happy and trying to resolve their monetary dilemma. The problem is that eventually something has to give and it will likely not be the outcome the Fed continues to hope for.
"First off, our prayers are with law enforcement this morning. People are afraid. They see lunacy in the streets being perpetrated by criminals and they are gearing up to protect themselves," Justin Anderson, director of marketing for Hyatt Guns told Secrets.
"A recent investigation by Yahoo! Inc. (NASDAQ:YHOO) has confirmed that a copy of certain user account information was stolen from the company's network in late 2014 by what it believes is a state-sponsored actor. The account information may have included names, email addresses, telephone numbers, dates of birth, hashed passwords (the vast majority with bcrypt) and, in some cases, encrypted or unencrypted security questions and answers. "
Many voters, unaware of what they are truly asking for, pressure their politicians to just “do something.” In Alabama, Governor Bentley forbade “unconscionable prices for the sale of any commodity” in his State of Emergency proclamation. Governor Deal did the same in Georgia. The masses clamor for action, not realizing that the best course of action for our politicians is for them to just sit on their hands.
That did not take long. Just hours after a CNN report suggested that Wells Fargo was retaliating, and firing, company whistleblowers who had spoken out against the company's illegal "account creation" practices (while blaming them of being "tardy"), moments ago Reuters reported that Senators have asked the Labor Department to investigate Wells Fargo for potential violations of Fair Labor Standards
"I’m now firmly in the camp that not only will the Fed not raise this year – they may not raise again for years. For they are not only “painted into a corner” via their own misdoings – they are chained there by Wall Street. They’ve missed the window..."
"According to our estimates, selling from systematic strategies is now mostly completed. This is assuming that S&P 500 momentum stays positive, and that volatility does not significantly increase further. As the market bounced post Fed and September options expired, the large put option (gamma) imbalance subsided and is no longer pushing volatility higher."
Over the years, the “wealth effect” has been taken as a core component of monetary policy. Central bankers will not admit it, of course, but particularly stock prices are a central element of their strategy. But no matter how high especially stock prices go, there is no wealth effect – NONE.
Wells Fargo admitted to firing 5,300 employees for engaging in illegal, fraudulent tactics. Now, CNN is reporting that it spoke with numerous former Wells Fargo workers around the country who tried to put a stop to these illegal tactics. Almost half a dozen workers who spoke with us say they paid dearly for trying to do the right thing: they were fired.
We are speaking, of course, of the Fed’s decision to punt yet again, and for a reason that is not mysterious at all. To wit, our financial rulers are petrified of a stock market hissy fit, and will go to any length of dissimulation and double-talk to avoid triggering a crash of the very bubbles their policies have inflated.
When Charlotte erupts, we need to pay particularly close attention. Some still think that this nation is doing just fine except for those ugly pockets of poverty and segregation that routinely explode like Baltimore or Chicago. Others know better, but hope to move away from, and thus avoid addressing, the persistence of ugly racial injustice and the cries for help coming from black families. Charlotte is their wake up call.
European regulators expect Italian bank Monte dei Paschi di Siena will have to turn to the government for support, Reuters reports, although Rome would strongly resist such a move if bondholders suffered losses.