Securities and Exchange Commission

Frontrunning: January 18

  • Business euphoria over Trump gives way to caution, confusion (Reuters)
  • Biden Lashes Out at Trump Over Comments on NATO (WSJ)
  • Number of House Democrats Skipping Inauguration Grows (WSJ)
  • Rising U.S. shale-oil output threatens OPEC’s production pact (MW)
  • China urges U.S. to bar Taiwan delegation from Trump inauguration (Reuters)
  • IEA Sees Significant Gains in U.S. Shale Oil as Prices Rise (BBG)

Ackman's Pershing Square Busted For Violating Pay-To-Play Rule; Fined $75,000

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.

In Bizarre "Takeover", Russia Today Broadcasts Live On C-SPAN Feed For 10 Minutes

In a strange "hostile takeover" of state TV broadcasters, not to mention a bizarre moment of startling symmetry with the current state of American politics, C-SPAN, the public affairs network that broadcasts political proceedings the United States House of Representatives and Senate, was interrupted by a live feed of Russia Today, the station accused of undermining the US elections.

Donald Trump Has An Enormous And Very Dangerous Wall Street Blind Spot

A very large percentage of the American public (including myself), remain irate at the complete lack of any justice served with regard to finance criminals in the aftermath of the economic collapse of 2008/09. When it comes to greedy, unethical behavior in the wake of that tragic period, Steve Mnuchin is in a class of his own. To appoint such a toxic financial oligarch to Treasury Secretary is a serious slap in the face to all American citizens.

Protesters Swarm Goldman Sachs' Headquarters, Are "Physically Ejected"

About 40 protesters yelled chants of "drain that swamp" and waved signs depicting "Government Sachs" in the lobby of Goldman Sachs' New York headquarters on Wednesday in opposition to the firm’s growing influence in President-elect Donald Trump’s administration. They were promptly ejected, in some cases physically.

Trump's Bait And Switch?

Within the political-financial establishment, the more things change, the more, it seems, they stay the same. As Trump moves ahead with his cabinet picks, several of them already stand out in a Mellon-esque fashion for their staggering wealth, their legal entanglements, and the policies they seem ready to support that sound like eerie throwbacks to the age of Harding.