"Anyone caught in the vicinity is guilty by association. When a drone strike kills more than one person, there is no guarantee that those persons deserved their fate. … So it’s a phenomenal gamble.”
To be king implies preeminence, or lasting rule. In the Arctic, such oil and gas supremacy is still little more than a dream. That dream remains alive in Russia however, and the nation – through an unmatched stubbornness and a decidedly timid field of competitors – is making a strong bid for the throne.
A beleaguered Deutsche Bank is set to slash the investment bank bonus pool by some $566 million as John Cyran's effort to right a sinking ship continues. As Bloomberg reports, "no decision has been taken and the biggest reductions are likely to impact employees in the fixed-income business. Some managing directors may have their entire bonus scrapped, according to the person."
We expect the ultimate outcome of Carl Icahn's Super PAC will be to make it easier for activists to pressure management teams into buying back even more of their shares - perhaps by granting them a tax amnesty on repatriating some of the $2 trillion in offshore cash if used for shareholder friendly activity - but then again we tend to be cynical.
"Then tell me, future boy, who's President of Brazil in 2016? Then who's vice president?"
Italian Central Bank Chief (And ECB Council Member) Probed Over Corruption, Fraud, & Abuse Of OfficeSubmitted by Tyler Durden on 10/21/2015 07:43 -0500
As the world places its 'life' in the hands of a few unelected members of ivory tower trusting them to centrally plan the global utopia, that faith may be shattered by Bank of Italy Governor Ignazio Visco. As Bloomberg reports, Visco and seven other people were place under investigation according to chief prosecutor. While the statement does not list allegations, court documents reveal alleged corruption, fraud, and abuse of office.
If you believe in and exercise your rights under the Constitution (namely, your right to speak freely, worship freely, associate with like-minded individuals who share your political views, criticize the government, own a weapon, demand a warrant before being questioned or searched, or any other activity viewed as potentially anti-government, racist, bigoted, anarchic or sovereign), you have just been promoted to the top of the government’s terrorism watch list.
He's right ...
“President Obama’s decision to prolong the U.S. led war in Afghanistan only ensures U.S. responsibility for more death and destruction. Veterans For Peace condemns the decision and calls on the U.S. public to say no to more war..."
Most Americans Think Government Corruption is Biggest Problem
As Rousseff fights to keep the Presidency, and has the speaker of the House battles to have her impeached, the country's economy continues to crumble. Retail sales came in below expectations for August and as Bloomberg reports, Brazil's top bankers now fear the combination of overindebted households and soaring unemployment could spell doom.
Back in August, we brought you the story of 1MDB, the Malaysian development bank turned-Najib slush fund with deep ties to Goldman. About a month later, the FBI announced an investigation into the fund after Malaysia arrested a former official who was trying to fly to New York to urge US authorities to look into the whole debacle. Now, as WSJ reports, the FBI and DOJ are looking into Goldman's role.
- Democratic rivals back Clinton on emails, but little else in scrappy debate (Reuters)
- Hillary Clinton Shows Relentless Efficiency in First Democratic Debate (WSJ)
- U.S. Examines Goldman Sachs Role in 1MDB Transactions (WSJ)
- JPMorgan Says Trading Pain Isn't Over After Third-Quarter Slump (BBG)
- Islamic State battles insurgents near Aleppo as army prepares assault (Reuters)
- Oil Slide Means `Almost Everything' for Sale as Deals Accelerate (BBG)
As RT and others report, "a major fire broke out in a deposit in the Chinese city of Tianjin. The fire was caused by a leak of alcohol"
“Capitalism is not primarily an incentive system but an information system.” Prices are the information. And the price of time itself is the single most valuable piece of information. Time, as we intuitively know, is money; they are two sides of the same coin. Mess with time and money, and you mess with everything else. Yet as with central planning in general, the central planning of either money, or time, cannot possibly work. Hayek warned the economics profession of precisely this in the 1970s. They didn’t listen, ensconced as they still remain within their interventionist Keynesian paradigm. Well that paradigm is about to be blown apart, time and money are about to return to the market, where they belong, and real, sustainable economic progress is about to restart once again.