After Donald Trump announced a number of cabinet picks who happen to be fans of Ayn Rand, a flurry of articles appeared claiming that Trump intended to create an Objectivist cabal within his administration. However, the claims about Rand’s influence in the administration are vastly overblown.
The Federal Reserve's general counsel, Scott Alvarez, will retire this year after a 36-year career at the central bank including more than 12 years as head of the Legal Division. the Fed said Wednesday.
Venezuela’s economy has collapsed. Unfortunately, most people mistakenly believe Venezuela’s policies created a successful economy prior to the collapse in oil prices. The truth is that Venezuela’s socialist policies held back its economy during the oil boom and are the direct cause of its economic collapse today.
“Firms that cross bonds may open themselves up to questions on best execution, transparency and fair prices for clients. Cross trading can present a conflict of interest since it can favor one client to the detriment of the other.”
Thousands of people recently demonstrated in Brussels against free trade deals negotiated by the EU. This happened just days before a meeting of EU trade ministers in Bratislava last month, which was considered the last push to salvage the Transatlantic Trade and Investment Partnership (TTIP) between the EU and the United States. Not only is Europe divided on the deal, but the talks have been extremely secretive.
The curious case of how a 34-year-old high-yield trader at Goldman managed to make $100mm in profits in just 6 months while somehow maintaining compliance with Dodd-Frank regulations...“It goes against everything we’ve been seeing the last three years."
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.
Hundreds of thousands took to city streets across Germany on Saturday as they marched against a pair of corporate-backed trade deals they say will undermine democracy, attack workers and local economies, and accelerate the threats posed by corporate hegemony and global warming.
"To our surprise, we find that financial market information provides little support for the view that major institutions are significantly safer than they were before the crisis and some support for the notion that risks have actually increased."
In yet another fit of populist rage, Hillary Clinton is set to unveil her 'fairness doctrine' for the drug industry. As Reuters reports, Clinton will create an "aggressive new set of enforcement tools," including the ability to levy fines and impose penalties on manufacturers when there has been an "unjustified, outlier price increase." In other words - government-imposed price controls - ask the Venezuelans how that ends...
We believe Hillary Clinton lost the Presidency this past week. While the explosive DNC leaks will undoubtably have a long lasting effect, this post will barely reference the leaks. Rather, it will explain how recent decisions by the Hillary campaign played right into Trump’s hands by essentially waving a gigantic middle finger to the 73% of Americans who think the country is headed in the wrong direction.
Sounding another alarm for progressives wary of the Democratic establishment's support for Wall Street, the man said to be leading the pack of potential Hillary Clinton running mates- Virginia Sen. Tim Kaine - has just this week sent a clear message to big banks: He's in their corner.