Should Gary Gensler truly be Clinton's chief financial officer, and should Hillary become America's next president, then ladies and gentlemen, in the fine tradition started by Hank Paulson who nearly brought the entire wastern world to ruin, the next US Treasury Secretary will be the following fine former Goldman Sachs employee and "champion for everyday Americans."
- Shale Oil Boom Could End in May After Price Collapse (BBG)
- Oil above $58 on U.S. shale output report, Mideast (Reuters)
- Ackman Says Student Loans Are the Biggest Risk in the Credit Market (BBG)
- Alibaba Disputes U.S. Group’s Claim it Tolerates Fake Goods on Taobao (WSJ)
- Petrobras takes steps to avert a technical default (FT)
- Yen’s Drop Is Approaching Its Limit, Says Abe Adviser Hamada (BBG)
- 'Slicing and dicing': How some U.S. firms could win big in 2016 elections (Reuters)
- Fed official warns ‘flash crash’ could be repeatedv (FT)
The Middle East’s ongoing descent into chaos and China’s impending ascendancy to the status of global superpower are just two of the many threats that the US, European Union and Russia all share. Each of these issues should certainly occupy a higher position on their respective agendas than the breakup of Ukraine or the insolvency of Greece. Leaders of all three governments would be well-advised to set aside their differences, or at least to prevent those differences from obstructing cooperation on more important issues. Unlike its predecessor, the Second Cold War will not be bilateral. Today’s world is far more chaotic, kinetic and dangerous than it was fifty years ago.
For those who follow the endless soap opera of domestic politics, the biggest storyo the weekend, if so far unsubstantiated, is the Post's report that the person behind Hillary Clinton's shocking e-mail story leak, is none other than Obama's personal advisor, Valeire Jarrett. "Obama senior adviser Valerie Jarrett leaked to the press details of Hillary Clinton’s use of a private e-mail address during her time as secretary of state."
"There are gaps of months and months and months," exclaims Rep. Trey Gowdy (who leads the committee investigating Hillary Clinton's handling of the Benghazi attack in September 2012) as the 'transparent' release of Clinton's email includes no emails at all from a seemingly critical Tripoli visit (where she has been photographed using her Blackberry). Gowdy ranted on CBS "Face The Nation" yesterday that "it strains credibility to believe if you’re on your way to Libya to discuss Libyan policy that there is not a single document to turn over to Congress." Clinton, for now, is staying very quiet on this matter...
Hillary Clinton's Latest Scandal: Former SecState Exclusively Used Undocumented, Personal Email AccountSubmitted by Tyler Durden on 03/03/2015 08:32 -0400
While the Hillary Clinton campaign seems unperturbed by recent problematic disclosures by Politico into the Hillary Clinton Foundation, the former first lady and current democrat presidential hopeful will have a field day explaining why, as the NYT reported overnight, Hillary - in her role as Secretary of State - "exclusively used a personal email account to conduct government business" according to State Department officials in violation of "federal requirements that officials’ correspondence be retained as part of the agency’s record." Mrs. Clinton did not have a government email address during her four-year tenure at the State Department. Her aides took no actions to have her personal emails preserved on department servers at the time, as required by the Federal Records Act.
Over the past year, there had been a perplexing spike in suicide events involving bankers, especially those of Deutsche Bank and JPMorgan. Overnight, the first prominent public sector suicide shook the state of Missouri when its state auditor Tom Schweich died in St. Louis in what is said to be an apparent suicide, at the age of 54, around 9:48 am on Thursday, when Clayton Police Chief Kevin Murphy said paramedics responded to an emergency call from his home. Schweich was then taken to a hospital, where he was pronounced dead from a single gunshot wound. The Police chief was quoted by Kansascity.com, who said that “What we know at this point suggests an apparent suicide.”
Former Florida Gov. Jeb Bush, who is seriously considering a run for the White House in 2016, said Wednesday that the National Security Agency’s program that collects bulk telephone records was “hugely important,” throwing his support behind the practice as Congress debates whether to reauthorize or limit it. At an event on foreign policy hosted by the Chicago Council on Global Affairs, Mr. Bush, a Republican, said, “For the life of me, I don’t understand the debate” over the metadata program.
27 years ago, in his acceptance speech, George H.W. Bush famously told America that he wanted a "kinder, gentler nation." While it took nearly three decades, it seems that his wish has finally come true. Sort of. Last week, the Commissioner of the Internal Revenue Service appeared in front of the House Way and Means Oversight Subcommittee... and apologized to taxpayers, specifically those who have had their assets seized and bank accounts wrongfully frozen - "To anyone who is not treated fairly under the [tax] code, I apologize."
The Abe administration nominated a major proponent of reflationary monetary policy to the central bank’s board, buttressing Governor Haruhiko Kuroda’s efforts to save the nation from the dread of deflation. As Bloomberg reports, economist Yutaka Harada, who will replace Ryuzo Miyao, has said Japan can beat deflation by printing money in a 2013 book "Reflationary Policy Revives Japan’s Economy." So far that is not working so try harder... “The nomination is a good news for Kuroda... he will keep a majority on the board and win what he wants." Why such good news? As deputy director at the finance ministry’s Policy Research Institute, Harada exclaimed, "we just need to print money."
Hillary Clinton isn’t a lock for the 2016 Elections: Google searches for US Senator Elizabeth Warren surpassed the former US Secretary of State just last month with a ratio of 6 to 5. Interest in bowling (+85% since October) is growing faster than Facebook (-4%) and Youtube (-2%), and there is a lot more interest in smoking marijuana than tobacco (58 vs. 19 on average). Those are just three of the surprising findings from ConvergEx's latest survey of social engagement using Google Trends.
When Eric Holder announced his resignation, many breathed a sigh of relief thinking it can’t get much worse, but not so fast. The authoritarian streak and rampant cronyism of the Obama administration is a well oiled machine. You didn’t think you’d get off that easily did you? Enter Loretta Lynch.
"After putting considerable thought into making another run for president, I’ve decided it is best to give other leaders in the Party the opportunity to become our next nominee." - Mitt Romney
Lazard's Antonio "Tax-Inverter" Weiss Withdraws Treasury Nomination (But End-Arounds Senate For 'Counsel' Role)Submitted by Tyler Durden on 01/12/2015 18:18 -0400
It appears Lazard's investment banker Antonio Weiss' "help" in tax inversions was just too 'unpatriotic' to scare President Obama off at the last minute.
- *ANTONIO WEISS SAID TO WITHDRAW NAME AS TREASURY NOMINEE
- *WEISS SOUGHT TO AVOID LENGTHY CONFIRMATION PROCESS (how thoughtful?)
The White House exclaimed "opposition to Weiss was unjustfied," so perhaps it was his $203 million in assets just would not have played well with Obama's new vision for the future. However, he has managed to get a position as "counselor" - which does not require Senate approval.