Showing posts with label Wall Street. Show all posts
Showing posts with label Wall Street. Show all posts

Sunday, July 19, 2020

Headlines


Trump stares down a ticking economic time bomb

Twitter says 130 people were targeted in hack that hijacked accounts of Elon Musk, Joe Biden

SCOTUS declines to reinstate votes of nearly 1 million Florida felons

All-time low coronavirus approval rating hurting Trump in swing states

Georgia governor sues to stop Atlanta mask mandate

Wall Street banks are in no rush to bring employees back to the office

White House divided over next phase of stimulus

Poll: Joe Biden leading President Trump in Texas

Democrats use Inspector General’s report to renew calls for Medicare chief’s ouster

European leaders gather for crunch talks on massive coronavirus fund

Report: Lincoln Project paid $2 million to firms owned by founders

Feinstein proposes halting Covid aid for states without masks mandates

STAND UP FOR AMERICA!

Thursday, June 20, 2019

Headlines


Sanders, Biden unload on ‘unpleasant’ Trump rally

Rep. Maxine Waters asks Facebook to pause work on cryptocurrency Libra

Orlando Sentinel gets jump on endorsements: Not Donald ...

25,000 pack Amway Center in Orlando, FL

Trump delivers a ‘bizzaro world’ re-election speech

Don’t be too optimistic that trade talks will progress at G-20: Cramer

CNN cuts away from speech after ‘sucks’ chant ...

Ocasio-Cortez: Trump running ‘concentration camps’ at border

Bernie Sanders: ‘We should definitely take a look at’ breaking up Google, Amazon, Apple

Trump is Wall Street’s favorite in 2020, but his reelection prospects look bad in state polls

ICE averaging only 7,000 deportations per month ...

Joe Biden warns supporters: ‘There’s a target on my back’

Wednesday, December 26, 2018

Headlines


Trauma of Clinton's Pennsylvania loss has Casey to consider 2020 bid

We are now in a bear market -- here's what the means

Netanyahu's coalition collapses; Israel heading to early elections ...

NYT pressures credit card giants to block gun purchasers

U.S. Judge orders North Korea to pay $599M in student's death

Trump has unsettled Wall Street and Washington -- and it will likely get worse

Trump takes kids' Santa calls ...

Wesley Clark: Allies worried whether Trump 'blackmailed' to leave Syria

[Congressional] Democrats vow scrub of post-9/11 war powers

Japan's Nikkei drops 5 percent after Wall Street slide deepens

Worst Wall Street Christmas ever ... Mnuchin backfire ... Troubling insider knol edge?

Trump says contract awarded to build 115 miles of border wall in Texas


Saturday, December 22, 2018

Headlines


Trump rushes into shutdown threat over wall

Shutdown talks collapse: Trump won't sign spending bill without wall money

Mattis resigns as Pentagon chief clashes with Trump ...

Comey admits he didn't tell Trump Democrats financed dossier

Trump torches Graham for criticizing his Syria troops plan

As  fear rises on Wall Street, strategists say the worse is yet to come

Study: Third of Americans thinking about leaving country to live abroad ...

Denmark approves plan to put criminal migrants on island

Migrants must wait in Mexico during immigration [asylum] proceedings under Trump policy

Putin warns the threat of nuclear war cannot be underestimated

Stephen Miller quizzes Wolf Blitzer: How do the Dems support border security?

[Bill] Kristol: Trump-supporting Senators now think he's 'out of control'

Tuesday, November 06, 2018

Headlines


Final polls point to narrow House majority for Democrats

Democrats hold 7 point advantage are ad of midrem election as Trump's base 'comes home': NBC-WSJ poll

Hannity and Limbaugh at rally with Trump!

Senate report reveals Christine Blasey Ford had an encounter similar to her Kavanaugh claim

Democrats aren't moving left. They're returning to their roots

A Wall Street veteran who's bullish on stocks sees one more major leg down, and China's the reason

5 million already voted in TX ...

Maxine Waters: 'Trump is putting a target on my back' -- 'He's promoting violence'

Pompeo not worried about North Korean 'rhetoric' ahead of New York talks

David Stockman believes the 40% market correction he's long predicted has finally arrived

Voter enthusiasm surges among Hispanics ...

Stacey Abrams: Georgians could have to 'turn their guns in '

Monday, October 29, 2018

Headlines


Trump: 'This was anti-Semitic at its worst'

Here's why one Wall Streeter thinks the Fed should take a breather to stabilize the battered market

Humanoid granted visa ...

... [Pittsburgh] Killer posted anti-Trump comments on social media

White House tempers hopes of retaining House control

Former President Jimmy Carter lives in a $167,000 house and shops at Dollar General

Control of Senate may hinge on Mississippi runoff ...

Synagogue shooting suspect passed background check

Bolton says Putin has been invited to visit Washington in early 2019

Saudi Arabia says kingdom to prosecute Khashoggi killers, lauds U.S. ties

Migrants refuse housing, jobs in Mexico ... 'We want America' ...

Grassley refers Amerati to DOJ for second criminal probe

Friday, October 12, 2018

Headlines


Trump, no longer ratings Gold, loses his prime time spot on Fox News

Wall Street loses top through world markets as rate fear shake investors

Bezos loses $9.1 billion [in one day] ...

More illegal alien births in L.A. than total births in 14 U.S. states

Trump: Fed's have 'gone crazy'

Nearly $13 billion wiped off cryptocurrenciey market s as major coins plunge

CNN mocks Kanye [West] as 'token Negro' ...

Susan Rice's Republican son assaulted at pro-Kavanaugh rally

'Just ridiculous lies' Dems incensed over misleading GOP ads on Medicare for All

Russian space rocket fails in mid-air, two-man US-Russian crew lands safely

Mortgage rates 8-year high ...

McConnell: 'We're committed to help president get wall funding'

Monday, July 16, 2018

Headlines



Mueller injects new drama into Trump's European whirlwind

People are 'mumb' to Trump's behavior, says Wall Street veteran

Republican warning signs: Democrats register 12 million more voters ...

Gohmert: Strzok knew 'foreign entity' hacked Clinton's emails and did nothing

'It's a big FU from Mueller'

Democrats -- and John McCain -- press Trump to cancel Putin summit after Mueller indicts Russians

[Pelosi] Says tax cuts will add 'two children dollars' more to the deficit ...

N.Korea request weekend [GU remains] meetin after skipping earlier meeting

Commerce Secretary [Ross] divests of all stocks after criticism from ethics watchdog

The real World Cup final isn't France vs. Croatia, it''s Nike vs. Adidas

Security scare as paraglider flies within feet of him [Trump] at [Scotish] hotel

Report: House conservatives move ahead with plans to impeach Rod Rosenstein

Saturday, July 07, 2018

Headlines


Job growth declined in June

U.S. trade deficit falls to smallest since before 2016 election

Trump offers Warren $1M to prove 'native heritage'

25% of private universities running deficit

Wall Street titans fail to explain Trump to China

Facebook co-founder: Tax the rich at 50% to give $500-per-month free cash to fix income inequality

Poll: Immigration top issue for voters ...

Update: Trump says new NFL anthem policy 'worse' than kneeling

K street staffs up for a Democrat takeover

Trump wants bilateral UK trade deal 'as soon as possible, ' US ambassador

Dog cloned -- 49 times!

Hungary trolls Macron by awarding fired French ambassador state honour

Tuesday, March 06, 2018

Headlines


Tariffs on track to be imposed, Trump,officials say

Exit poll shows Italian election is heading for hung parliament

Florida Senate rejects ban on assault weapons, votes to arm teachers ...

Guatemala to follow Trump's lead and move embassy to Jerusalem in May

GOP fears midterm backlash from Trump tariffs

Trump's tariffs could emerge as a black swan for stocks, one long-time Wall Street bull warms

Twitter suspends user for calling Maxine Waters 'crazy old lying lunatic in bad wig' ...

Oscars: Celebrities push gun control surrounded by a wall of 500 armed officers

Germany's Social Democrats endorse grand coalition

China says it does not want a trade war with the US

Play titled 'Kill Climate Deniers' launches its theatrical run ...

Florida billboard: 'NRA is a tortoise organization'

Saturday, September 30, 2017

Tax reForms


"The greatest good for the greatest number."

The Trump administration's new tax system revamping has been unveiled. Although lacking in critical details ... probably on purpose ... it nonetheless is causing considerable dyspepsia. In particular the proposed removal of state/local tax deductions and the reduction in the highest rate are the center of most complaints ... see: NY Times Article

Trump's financial guru Gary Cohn was explaining this administration's new tax reform proposal to the media recently and I was struck by one of his comments. The press asked him its standing question, "Can you guarantee that under this new plan no middle class American will end up paying more taxes?"  Cohn, to his credit, said no ... there were no such guarantees. Some bizarre set of financial circumstances might cause someone to pay more, but the vast majority of  middle-income Americans will end up with more money in ther pockets. And the top 1% would likely be paying more.

However, color me skeptical. Somehow it is difficult to imagine that two Goldman Sachs alums (Cohn and Mnuchin) would so help out middle America without cutting generous vig for their old bosses ... perhaps by the killing of the Alternative Minimum Tax (AMT). Actually, I have in the past suggested a variant of an AMT in which all deductions could only reduce the effective tax rate by a few percentage points. This way Congress would not have to pick winners and losers among the current litany of popular deductions.

For me, the acid test of this new tax reform will be if it scuttles the unfair "carried interest" tax rate that has made so many hedge fund managers multi-billionaires. If it stays, then Wall Street Titans are once again pretending to be altruistic while buying their many Hamptons' mansions.

Friday, September 22, 2017

Nam


After watching three out of four episodes of Ken Burns' "The Vietnam War" on PBS I am chagrined to confess that there was much about this war that I didn't know. But I have still drawn a few conclusions from what I have seen so far. I know not whether these conclusions are what Ken Burns had in mind for his audience, but I do feel that his treatment of this very contraversial subject seems, so far, to be even-handed. (But I haven't seen Jane Fonda on  the anti-aircraft gun yet.)

First, I must start by stating I was never in the armed forces nor, obviously, in Vietnam although I was of an eligible age. I have two metal rods holding my spine in shape as testament to why this is so. I had actually been called for my pre-induction physical in 1963 but was, to my lasting gratitude, rejected. So I spent those war years working on Wall Street, getting remarried and having another family. And, to my shame, I was barely aware of what was happening in Southeast Asia or why there was unrest at home. All this gnashing of teeth was like chirping  crickets to my busy life.

Anyway, to my few thoughts inspired by  this TV documentary special:

- Much of the angst coming out of this conflict was due, IMHO, to the gradualism exhibited by both JFK and then mostly Lyndon Johnson. I now strongly feel that getting into this quagmire was a mistake, but, once committed. I think someone very wise said, "if you go to war, go to war." Don't pussyfoot around like we have done so many times since WWII. Our painfully slow escalation of this conflict allowed the Viet Cong and North Viernam time to react to each incremental increase of commitment ... and America's youth to organize an effective domestic resistance ... the legacy of which we are experiencing even unto today.

- "A resolute army will almost always defeat a reluctant army." This is just another way of saying that, unless there is a real threat to one's homeland, your soldiers are not quite as motivated as the enemy. However bravely Americans fought in Nam, we were really not being pulled by patriotism, but rather pushed by fear and platitudes. ("Hell no, I won't go!) LBJ never really made the case that the "domino theory" was a big enough threat to Peoria. And history has shown that it wasn't. Matter of fact, I am astounded at the friendly reception American tourists recieve when they visit Vietnam (even the North) today ... given what this program showed us doing over there in the 1960s.

- And lastly, resistance to the war taught a generation of America's youth that it was OK to love one another but hate your country. This "hippie" culture was the genesis of much of our national divide today. It is a price that we will be paying for many years to come.

Saturday, April 22, 2017

Culture Wars


The Republicans now control Congress, the White House, the Supreme Court and 2/3rds of the states' legislatures ... obviously a huge win in the political wars. This is a bit surprising since the Democrats keep winning the cultural wars ... as exemplified by Bill O'Reily recent ouster from Fox News. The Democrats, by diluting the Fox message, now have even a bigger strangle hold on the media. And since they also control Hollywood, higher education,Wall Street, most of the music business, foundations, the Internet social media and, increasingly, sports broadcasting, they are bound to make a political comeback if they can just find a few likable candidates.

Unless, of course, conservatives can somehow begin to make equivalent inroads in the cultural wars. But how? Well, the longest journey starts with a few steps.  I can think of two modest initial targets ... journalism schools and foundations. This won't be easy as these two institution are loaded with progressives. Let us look at each one separately:

- For the journalism schools, may I suggest that some wealthy conservatives endow some inspirational and conservative professors to teach courses like Journalistic Ethics or The Rule of Law or Facts vs. Opinion. Perhaps a few students might be disuaded from being proxy politicians.

- For the foundations, I would suggest that a few lawsuits might be initiated to insure that now-liberal foundations be forced to comply with their original charters ... many of which are far afield from that which they now practice. I suspect that many of those who set up foundations for noble ends are spinning in their graves over what has happened to their beloved intentions.

Just accomplishing these two started goals would be a good win in the other, equally-important battle ... the  conservatives' battle to win back the culture wars. But in any case it should be a long slogue.

Friday, April 07, 2017

Headlines


These headlines are real ... they have all been discovered on Internet news sites. Guess which ones came from Politico?

Media claims a scalp -- House Intel Chairman Nunes steps aside in Russia probe

Coulter: Obama should testify under oath on Trump surveillance

Report: White House backs Wall Street splitting of lending, investment banks ...

Bannon's departure solidifies McMaster's control over NSC

[As said on Lena Dunham's] HBO 'Girls': Unborn baby [is a] 'parasite growing inside of you'

Republicans push [nuclear option] button ...

Update: Shia movie sells three tickets ...

Muslim births to outpace Christian births within 20 years ...

Trump: Chemical attack in Syria 'crossed many, many lines'

Rare 'Pink Star' diamond becomes priciest diamond ever, sold for $71.2 million

Secret Service agent on Pence detail busted with hooker

Healthcare bust -- No deal as Congress goes into recess

Monday, October 03, 2016

Timely Questions



Take you pick of which question(s) you would like to answer in the comments section below. This is not a real survey ... just an opportunity to bloviate:

Which was worse for the U.S.  -- GWB's invading Iraq ... or BHO's pulling out?

Is the establishment media biased?

What obscure "-stan" country question will be asked of DJT in the next presidential debate?

Are you a nationalist or a globalist?

When will be the next terrorist attack in the U.S.? ... in Europe?

Who is the better VP candidate ... Kaine or Pence?

Should DJT release his tax returns or will Lois Lurner beat him to it?

Is a "tax loss carry-forward" a "tax loophole"?

If HRC is elected, will she be healthy enough to serve?

If DJT wins, will he build the wall? Will Mexico pay for it?

Should HRC release the transcripts of all her Wall Street private meetings?

Is DJT a racist? Is HRC? Is BHO?

Will the Fed raise interest rates in December?

Is Julian Assage a hero or a traitor ... or both?

Is HRC guilty of a felony for mishandling gov't intelligence?

Sunday, August 14, 2016

"Legal Tender ...


For all debts, public and private." Not so fast! Now, increasingly, businesses are not accepting cash payments for goods or services rendered ... they only accept cell-phone-wallet or credit-card payments. Can they do this? What if one doesn't have plastic or a smart phone? Isn't this the same as "voter suppression" ... shopper suppression? I guess it depends on whose Gore is being oxed? Besides our underclasses don't shop the way that we, the privileged class, does ...

I guess I am naive, but I thought that the term "legal tender" printed on the top of our paper currency meant something ... and refusing fiat money would bring the wrath of our Treasury Department down on one. Apparently not ... we live in the cowardly new world of techno-elitists whose disdain for Luddites, like myself, is brutal and unforgiving. One has to wonder if this lax enforcement of our monetary laws has something to do with the huge political donations coming out of Wall Street and Silicone Valley?

To read all about this strange new merchant meme, please visit ... CBS News Story.

Upon reflection, there actually might be one side benefit to this unnerving new commercial custom ... and that is monetary transactions will be everywhere electronically captured. This would mean that more of the shadow economy would be forced into the sunlight ... and, because of sophisticated data mining algorithms, money laundering might get a little more difficult.

Monday, January 18, 2016

I Agree with Bernie


In last night's Democrat debate, Bernie Sanders made a few points with which. I concur:

- Wall Street was mainly responsible for the housing and financial collapse in 2008. The fact that no one has been indicted for this travesty proves that Washington ... in particular the Obama administration ... is beholden to Wall Street money.

- The repeal of the Glass-Steagall Act in the late 1990's (under Bill Clinton's presidency) is the primary reason that America's big banks have gotten too big to fail and required huge government bailouts in 2008 and 2009. Glass-Steagall needs to be reimposed.

- The Dodd-Frank financial reform bill has not fixed this problem ... in fact, these banks have even gotten bigger since the collapse and would require another bailout the next time around.

- Hillary Clinton and Barack Obama have taken huge campaign contributions and speaking fees from the Wall Street banks ... particularly Goldman Sachs ... and this is why things are so cozy between these parties. Hillary Clinton cannot be relied upon to sever her relationship with Wall Street.

Now, am I a Socialist because I agree with Bernie? Not hardly, in fact what Bernie didn't and couldn't say was that the Democrat party ... in particular Barney Frank and Chris Dodd ... are another primary reason for the financial collapse in 2008 ... because they forced banks to give sub-prime mortgages to poor credit risks and then had these mortgages purchased by Fannie Mae and Freddie Mac, two Democrat-controlled honey pots.

Tuesday, December 16, 2014

Rags to Rags


Here’s another Walter Mitty story -- boy investment genius, not yet out of high school, makes $72 million trading stocks on Wall Street. His name is Mohammed Islam and he goes to Stuyvesant High School on the lower East Side of Manhattan and has seemingly acquired all the trappings of a multi-millionaire. Perhaps these trumped-up trappings are what influenced Jessica Pressler to write a quite typical New Yorker magazine flivver story about this wunderkind … see: New Yorker Story.

Alas, it was all a great big teenager prank and the New Yorker magazine is embarrassed … see: The Observer Exposee ... and Jessica Pressler has moved on to browner pastures … see: Capital Story.

I actually think she should have taken a shot at Rolling Stone.

Friday, September 19, 2014

Free Ride


The initial public offering (IPO) of Alibaba Group Ltd. (BABA), the huge Chinese Internet company, has made quite a few investors quite a bit of money ... and I don't even mean the venture capitalists and other initial and mezzanine investors like Yahoo. I mean those people and companies who were allocated stock in the initial distribution this morning at $68 per share. They then had opportunities to sell this stock for as much as $99.70 per share after the stock started trading about noon today at $92.70. During my days on Wall Street, selling an IPO during its first trading day used to be called a "free ride."

The size of this initial offering was 320.1 million shares and the total volume for this first trading day totaled over 271 million shares. This means that it is possible that many of those who received their shares on the original allocation had a opportunity to sell them for at least a $24.70 per share profit to as much as $31.70 per share profit ... meaning that those who were lucky enough to get these allocations were wealthier (on paper anyway) by at least $7.91 billion ... possibly more. Not bad! Basically all this wealth was just created out of thin air. One clever author call this IPO-created magical wealth, Supermoney ... see: Amazon Listing.

To me, this suggests that all this monetary gas may keep the stock market inflated for a while yet. To read more about this IPO and Alibaba itself read: Marketwatch Writeup.

Afterthought: Thinking about this IPO further, I may have stumbled upon the fundamental advantage of capitalism ... super wealth creation. Such things just don't happen under those economies of the commonwealth variety. Perhaps that is why the U.S. keeps winning despite all our screw-ups?

Monday, October 28, 2013

The Hammer


The Obama administration has not been shy about using the levers of government to raise campaign cash or punish those companies or political blocs that have opposed them.  I suppose that this is the Chicago way and, to me, it is very disturbing.  We have seen it in how the IRS blatantly abused its powers during the 2012 elections. Now we are viewing it in how the Justice Department and other government agencies are extorting money from Wall Street firms that didn’t toe the line during these same elections … see: Breitbart Story.  Attorney General, Eric Holder, and the Federal Housing Finance Agency (FHFA) have dropped the hammer on J.P. Morgan to the tune of some $18 billion of unprecedented fines stemming out of the 2008 financial meltdown … see: CNN/Fortune Story and The Guardian Story.

Please don’t get me wrong.  I believe that there were oodles and oodles of real crimes that led up to the sub-prime mortgage crisis.  But have we seen any of the kingpins in these perpetrator firms even go on trial for these travesties?  No.  Most everyone knows who these guilty slimeballs are … yet they luxuriate in their buyout retirements. Instead, we are seeing financial blackmail and extortion.  Monumental fines and fees are being levied against those firms that were told by the United States Treasury Department to adsorb these miscreants’ entities and, now in return, are being financially shaken down.  There is clearly going to be more of this thuggery coming out of this administration … now that our financial firms have been propped up by the Federal Reserve Bank and are thus healthy enough to pony up with some significant pelf.

This behind-the-curtain method of our government’s picking corporate winners and losers is disturbing and presages even more blatant interference in what was once only a slightly corrupt system of political donations.  One can clearly read the message for the upcoming elections in 2014 and 2016.  Support Democrat candidates or suffer similar consequences to J.P. Morgan.  The hammer of big corrupt government is now corrupting the flow of money into political parties further still.  Take that you Supreme Court and your Citizens United decision!  You think that corporations are people and money is free speech?  We will show you that we, guttural government, can subvert the intent of this decision to a fare-thee-well.