In a shocking development, earlier today a highly reputable executive with a just as reputable private equity firm was arrested and charged with securities fraud. Andrew Caspersen, a Harvard Law School graduate and a partner at the Park Hill Group, an advisory firm that up until last fall had been a part of the Blackstone Group, was accused of defrauding numerous institutional investors out of $95 million through fake private equity investments.
The U.S. healthcare system as we know it is likely to collapse within the next decade. The sucker American public can only be milked so long.
In the wake of the August 11 "surprise" yuan devaluation, all anyone wanted to talk about was the rapidity with which China was liquidating its FX reserves. Before long, everyone realized that the headline number was a proxy for capital flight out of China. That made Beijing uncomfortable and so, the PBoC found more "creative" ways to intervene in FX markets. Now, the IMF wants clarity.
“Your urgent assistance is greatly appreciated! My Governor would like to draw from your good experience."
Obama Administration Sets Record In Lack Of Transparency: Denies Information In 77% Of FOIA RequestsSubmitted by Tyler Durden on 03/19/2016 16:17 -0400
The Obama administration set a record for the number of times its federal employees told disappointed citizens, journalists and others that despite searching they couldn’t find a single page requested under the Freedom of Information Act. In more than one in six cases, or 129,825 times, government searchers said they came up empty-handed last year. Such cases contributed to an alarming measurement: People who asked for records under the law received censored files or nothing in 77 percent of requests, also a record. In the first full year after President Barack Obama’s election, that figure was only 65 percent of cases. The new data represents the final figures on the subject that will be released during Obama’s presidency. Obama has said his administration is the most transparent ever.
We are experiencing 1970’s style stagflation, coming from the supply side, not demand. Prices are going up because Norges Bank continues to destroy the Norwegian Krone, turning it into the Nordic Peso. This is where they are “hiding” the damage to save rest of the economy. For example, housing prices will rise in NOK but fall in USD or gold (universal commodity) terms. It’s a shell game, leading to long term decline or even worse, an unexpected period of elevated inflation, requiring a rapid rise in interest rates.
Something that has gone unnoticed in all the talk about the investigation into Hillary Clinton’s e-mails is the content of the original leak that started the entire investigation to begin with.
- Global Stocks Drop on Renewed Concerns About China (WSJ)
- Iron Ore's Rally Stalls as Goldman to Citigroup Forecast Retreat (BBG)
- EU and Turkey close to groundbreaking migrant deal (FT)
- Carney's `Brexit' Stance Under Fire as BOE Accused of Bias (BBG)
- Oil edges lower after Kuwait dents hopes for output freeze (Reuters)
"It's reached the point where social media is used to discuss toilet paper strategy... The most common alternative is to shower right after going to the bathroom. The smallest denomination of money is used for toilet paper, because it's worthless."
Legislators in Mexico City passed a proposal on Thursday to bar presidential candidate Donald Trump from entering the country.
The Mexican drug cartels are finally meeting their match as a wave of cannabis legalization efforts drastically reshapes the drug trafficking landscape in the United States. It turns out that as states legalize cannabis use and cultivation, the volume of weed brought across the border by Mexican drug cartels dramatically decreases — and is putting a dent in their cash flow.
Should Monsanto be victorious in this court battle, it would represent a major defeat for the people’s right to know when they could be harmed. Worse, it would be a victory for an already aggressively arrogant industry bent on profit at any and every cost.
Soidifying its transition into a complete banana republic, on Tuesday Ukraine banned government officials from publicly criticizing the work of state institutions and their colleagues, after what Reuters reported was "damaging disclosures last month that highlighted slow progress in fighting corruption."
In the wake of numerous cases of lead poisoning through Flint, Michigan’s government-managed water supply, some commentators immediately began looking for ways to blame the private sector.
It appears the music may have finally stopped for one of the world’s largest luxury real estate bubbles: London. One of the primary drivers behind the weakness in this “asset class” is a sharp reduction in the numbers of foreign criminals laundering money via real estate.