It is absolutely imperative to see Trump as a symptom of a sick and broken system as opposed to the root cause of anything. The corporate media and legions of mourning Hillary cultists continue to present the Trump threat in extraordinarily simplistic and unhelpful terms. They act as if he’s the head of some evil snake, and that disposing of him as an individual will get America back on track. This couldn’t be more wrong.
While Verizon has decided not to back away from its high profile purchase of Yahoo, after the internet portal reported two massive data breaches following the deal announcement, the WSJ reports that The companies have agreed to revise the $4.83 billion deal, cutting as much as $350 million off the price and evenly splitting costs from the breaches.
Yesterday it was widely reported in the business press that Mary Jo White is returning to her former law firm as a partner representing clients who face government investigations. This news is highly significant because it would appear that the U.S. Senate was seriously misled by White’s ethics letter in its deliberations to confirm her as the top cop of Wall Street.
Snapchat set its valuation between $19.5 billion and $22.2 billion ahead of its IPO, which equates to $14 to $16 a share, near the low end of the $20 billion to $25 billion range the company had originally hoped for.
In his Inaugural Address, having nominated the wealthiest cabinet in American history, he proclaimed, “For too long, a small group in our nation's capital has reaped the rewards of government.” Under Trump, an even smaller group will flourish -- in particular, a cadre of former Goldman Sachs executives. To put the matter bluntly, two of them (along with the Federal Reserve) are likely to control our economy and financial system in the years to come.
The FBI has seized $20 million dollars of cash, literally stuffed in a mattress in Westborough, Massachusetts, linked to the infamous TelexFree pyramid scheme that reportedly raised over $1 billion from gullible participants between January 2012 and March 2014.
Following a disappointing year for Bill Ackman, in which his Pershing Square returned -13.5%, moments ago Ackman got some bad and some good news. The bad news is the Pershing Square was among 10 investment advisory firms who were busted by the SEC for engaging in pay-to-play schemes, or accepting pension fund fees within two years of making donations. The good news: the penalty is a whopping $75,000.
Without much fanfare at all, on Friday Citadel announced it would pay $22.6 million to settle allegations that it "misled clients about pricing trades", a euphemism for it was frontrunning its clients.