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Trump Jr. Lawyers Up As Potential Senate Intel Committee Hearing Looms

Well that escalated quickly.  After volunteering just over an hour ago to cooperate with the Senate Intelligence Committee, Donald Trump Jr. has apparently now joined with most of the other members of the Trump campaign in hiring his own attorney for the various "Russia probes" that are underway.

CEO Pay Soars In 2016 As Employee Wages Continue To Stagnate

CEO pay increases took a brief pause in 2015 dropping to a paltry median of just $10.8 million.  But, the CEO's of America can once again rest assured that their families will not starve to death as 2016 pay soared nearly 7%, setting a post-recession record.

Gary Cohn's Parting Gift From Goldman: An Accelerated $124 Million

Leaving Goldman Sachs to work for the government has always been a lucrative career move: eight years ago, it allowed former Treasury Secretary Hank Paulson to sell $500 million in Goldman stock tax free, and now its the turn of Gary Cohn, Goldman's former COO and president, who is leaving to join Trump's cabinet, who is departing with an "accelerated" gift.

Wells Fargo Discloses Carrie Tolstedt's Compensation, Answers If Any Will Be "Clawed Back"

Following today's dramatic grilling of Wells Fargo CEO John Stumpf in the Senate which culminated with Elizabeth Warren shouting at Stumpf that "You Should Resign, You Should Be Criminally Investigated"" moments ago Elizabeth Warren, and four Senate Democrats released answers from Wells Fargo to questions about the compensation of Carrie Tolstedt, as well as whether any of it will be clawed back.

Goldman Responds To Goldman's Stock Offering of A Goldman-Upgraded Tesla

In what many considered to be a flagrantly criminal abuse of investment bank "restricted lists", yesterday Goldman underwrote a $2 billion equity offering for Tesla (to find its amusing expansion strategy) just hours after Goldman upgraded the stock to a Buy. We have done our best to alert the regulators however we are confident the regulators are paid far better to remain unalerted.  So for those curious what Goldman's research analyst who upgraded Tesla, Patrick Archambault, had to say about this "odd, very odd coincidence", here it is straight from the mouth of the horse which obviously remains stabled safely on the other side of the Chinese wall located at 200 West.

Two Wrongs Don't Make A Right - Is Fiorina The Fall Gal?

What does this absurd gimmick tell us about him, given that he cannot possibly win the required number of delegates any longer? A sign of mental illness perhaps? Probably not. We think it is telling us that he is desperately trying to ingratiate himself with the Republican establishment – which is firmly anti-Trump for the simple reason that Trump is a genuine threat to its cozy cronyism. The only purpose of Mr. Cruz’ continued participation in the primaries is an attempt to deny The Donald the majority of delegates in order to bring about a brokered convention.

Citadel Barred From Trading In China After Regulator Accuses "Automated Trading" Unit Of Manipulation

Define irony: for the past 7 years, Wall Street's worst kept secret is that Citadel, the world's most levered hedge fund, has been the NY Fed's just slightly more than arms-length enforcer of market stability, by which we mean spoofer, buyer and otherwise "plunge protector" in the equity and E-mini futures markets. Which is why Citadel must have been shocked to learn late last week that China had suspended trading at a brokerage account used by Citadel in China.

AAPL Beats Expectations As China Becomes Dominant iPhone Market; Cash Jumps But So Does Debt

Moments ago AAPL reported Q2 earnings for the quarter ended March 31, 2015 which saw AAPL beat soundly on the top and bottom line as as result of a jump in iPhone sales, even as iPad and Mac sales came in below the expectation. EPS was $2.33 vs consensus $2.16, while revenues came in at $58.0 billion, $2 billion higher than the $56.0 billion expected. But while the operations were impressive if China and iPhone centric, what everyone is focusing on is the AAPL news that it once again expanded its buyback program en route to hitting the Goldman forecast of a record $900 billion in 2015 for the entire S&P500, by announcing it would boost its buyback authorization by more than 50%, from $90 billion to $140 billion.