Elizabeth Warren

Frontrunning: November 16

  • U.S. stock futures slip as post-election rally slows (Reuters)
  • Pence Ousts Lobbyists From Transition Team (WSJ)
  • Infighting hits Trump’s foreign policy transition (FT)
  • Trump’s Win and Transition Turmoil Buy Time for FBI Chief Comey (BBG)
  • Elizabeth Warren Sends Donald Trump Letter Criticizing Transition Team’s Wall Street Ties (WSJ)
  • Saudi Arabia set to reveal depth of oil reserves (FT)

Waking Up In Hillary Clinton's America

With less than two weeks to go before E-day -- despite the Trumptilian upheaval of the last year -- the high probability of a Clinton win means the establishment remains intact. When we awaken on November 9th, it will undoubtedly be dawn in Hillary Clinton’s America and that potentially means four years of an economic dystopia that will (as would Donald Trump’s version of the same) leave many Americans rightfully anxious about their economic futures.

How A 34 Year Old Goldman Trader Made $100 Million In A Few Months

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."

Hillary Considered Tim Cook, Bill Gates, Mary Barra, Mike Bloomberg For Vice President, Hacked Email Reveals

Among the Podesta emails released today, one of the more interesting disclosures comes from a March 17 email from John Podesta to hdr29@hrcoffice.com, aka Hillary Clinton, which laid out a list of potential Vice Presidential nominees for Hillary. The list of 39 names, "organized in rough food groups,” with regard to their gender, race or career; includes some interesting names...

Wells Fargo CEO John Stumpf To Retire Effective Immediately

The most anticlimiatic and predictable outcome to the biggest banking scandal to rock Wall Street in recent years, Wells Fargo;s fraudulent creation of 2 million (or more) fake customer accounts, has just concluded in the only possible way: with CEO and Chairman John Stumpf retiring.

Did Stumpf Lie To Congress? Wells Manager Admits Fake Account Creation As Far Back As 2006

Just when you thought the public floggings were over and another US bank proved that crime pays, it appears Wells Fargo - and its CEO - may not be as 'Teflon' as they hoped. Having told Congress under oath that his bank committed criminal activities since 2011, VICE News reports that in fact John Stumpf's banking head Carrie Tolsetedt was actually aware of the creation of fake accounts since 2006.

How The "Perverse Economic Effects Created By ETFs" Are Setting Up The Next Crash

1. In a world of manic factor crowding via the exponential growth of cheap passive index and smart beta products, get ready for the class-action lawsuits in a future-state. And:
2. this is BEYOND GOLD as an example of “tail wagging dog” / “echo chamber” / “feedback loop amplification” from the market structure shift experienced within the industry over the past 10+ years.

"I'm A Bernie Sanders Voter.. Here's Why I'll Vote Trump"

"Even if he’s as bad as he sometimes projects to be, he’s not as bad as Hillary’s policy-record already is." Sometimes, things in politics are the opposite of the way they seem. The Presidential contest between the ‘liberal’ Hillary Clinton’ and the ‘conservative’ Donald Trump is perhaps the most extreme example of this - for these ten reasons...

Illinois Suspends "Billions Of Dollars" Of Investment Activity With Wells Fargo

Just when you thought you could relax into the weekend knowing that the US (and world) banking system was 'fixed' again thanks to a rumor from French press, Wells Fargo take another hit. Following California's decision to sever all banking ties with the bank, Illinois State Treasurer Michael Frerichs has confirmed his state's plans to suspend billions of dollars of investment activity with Wells Fargo.