Treasury Department

Pension Ponzi Bailout: Democrats Sponsor US Treasury Bailout Scheme

Most defined benefit pension plans are nothing but Ponzi schemes. Plans are now unraveling because of demographics. An increasing number of retirees, needing untenable returns, are supported by fewer and fewer people putting money in the system. Democrats sponsored a bailout scheme. Will it pass?

Venezuela Just 24 Hours Away From Formal Declaration Of Default

ISDA has agreed to review a request to determine whether an event of default has occurred in Venezuela due to a delayed bond payment on PDVSA bonds which matured on Nov. 2. The ISDA Determinations Committee will hold its first meeting regarding PDVSA at 11am on Friday, November 10.

What Risk: Deutsche Bank Ramps Up Loans Business In Desperate Scramble For Profit

Our sense is that Cryan is under so much pressure to deliver revenue growth, his strategy is to close his eyes, hope for the best and go for it. After all, this was the man who last month said "We are now seeing signs of bubbles in more and more parts of the capital market where we wouldn't have expected to see them".

Paradise Papers: Massive New Leak Exposes Tax-Haven Secrets, Links Wilbur Ross To Russia

A huge new leak of offshore tax-haven documents dubbed the "Paradise Papers", reveals again how the ultra-wealthy, including the Queen's private estate, secretly invest vast amounts of cash in offshore tax havens. They also reveal that Trump's commerce secretary, Wilbur Ross, is shown to have a stake in a firm dealing with Russians sanctioned by the US.

Traders On Hold As "Super Thursday" Looms

Yesterday's brief dip in ES has been promptly bought with US equity futures fractionally lower, Asian shares inching higher on Thursday and Europe unchanged ahead of today's Super Thursday, where we get the Republican tax bill revealed shortly before noon, the BoE's rate hike announcement, and Trump appointing Jay Powell as the next Fed chair, as well as as earnings from companies including Apple and Starbucks.

Previewing Today's Fed Policy Decision

While normally Wednesday's Fed meeting would be the week's biggest market-moving event, this time - smack in the middle of the busiest earnings week of the year - it may not even make the top three...