Stream of Reading (Prepare to be Forwarded) – An Archive of What I'm Reading
AD ads_sharebox_260x60 SAUL LOEB via Getty Images Entry Text There are few people in Congress who criticize big Wall Street banks more than Sen. Elizabeth Warren (D-Mass.) does. A former Harvard bankruptcy law professor, she is the architect of the Consumer Financial Protection Bureau and chaired the government panel that oversaw the Troubled Asset Relief…
Yesterday, Iceland’s prime minister, Sigmundur Gunnlaugsson, announced a plan that will essentially close the books on his country’s approach to handling the financial crisis — an approach that deviated greatly from the preferences of global financial elites and succeeded quite well. Instead of embracing the orthodoxy of bank bailouts, austerity, and low inflation, Iceland did just…
In a story so shocking it’s not shocking at all, news comes today that six of the too-biggest-to-failiest banks in the entire world worked together in secret to control currency prices, for SIX YEARS, and thus enriched themselves in the process. And now they have to pay $5.8 billion in fines, because they are guilty…
First Look: U.S. Dollar Substitute to Go Public on Oct 20th? 04.23.2015 BY Kelly Brown, Stansberry Research IMF headquarters in Washington D.C. expected to release huge money announcement Oct 20th Learn more… The International Monetary Fund is one of the most secretive and powerful organizations in the world. They monitor the financial health of more than 185…
In many cities around the world—New York, San Francisco, London—most people find the rent to be unaffordable. Buying is out of the question. Perhaps that is because your city’s housing stock is now just another fungible financial instrument, like pork bellies. You, the middle class resident of a major urban area, may have complained at…
Gold’s traditional role as a store of wealth has been usurped by contemporary art and apartments in cities such as New York and London, according to Laurence D. Fink, head of the world’s biggest asset manager. “Historically gold was a great instrument for storing of wealth,” the chairman of BlackRock Inc. said at a conference…
Barney Frank (Credit: AP/J. Scott Applewhite) Barney Frank has a new autobiography out. He’s long been one of the nation’s most quotable politicians. And Washington lives in perpetual longing for intra-party conflict. So why has a critical revelation from Frank’s book, one that implicates the most powerful Democrat in the nation, been entirely expunged from…
William Dudley, president of the Federal Reserve Bank of New York, delivered a speech on Wednesday morning that drove home just how dangerous an investment student loans are for American taxpayers. Speaking at a conference on student loan data, Dudley outlined the consequences of the unique way the U.S. government lends money to people for college. Government student loans…
Costco to stop accepting American Express cards in U.S. from next April Thu Feb 12, 2015 8:57am EST Tweet Share this Email Print American Express and American Express corporate cards are pictured in Encinitas, California October 17, 2011. Credit: Reuters/Mike Blake (Reuters) – American Express Co (AXP.N) said Costco Wholesale Corp (COST.O) would stop…
Hedge-fund manager Whitney Tilson used his American Express card for three decades to buy groceries, trips to Europe and just about everything else. A few months ago, he switched. “I charge a lot of money on my credit card,” said Tilson, 48, who manages more than $83 million at Kase Capital Management in New York….