Global stocks drop and the dollar rises after the Fed warns the US economic recovery will stall without further stimulus

Summary List Placement Stocks were a sea of red on Thursday after investors were spooked by warnings from a number of Federal Reserve speaker that US economy needs stimulus to continue to recover. Federal Reserve Chairman Jerome Powell said more stimulus is needed while the Fed’s vice-chair Richard Clarida said Wednesday the pandemic has put […]

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The ECB plans to set up an Amazon-style marketplace to sell billions in bad debt in a challenge to Wall Street, Reuters reports

Summary List Placement Europe plans to set up an Amazon-style marketplace that sells bad debt worth billions of euros in a challenge to big buyers on Wall Street, according to Reuters. The proposal would challenge dominant Wall Street debt investors, but has not been signed yet. European Central Bank officials plan to discuss the scheme […]

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This is what an American coup looks like

President Trump’s campaign is reportedly in discussion with state and national Republicans to “bypass election results and appoint loyal electors in battleground states where Republicans hold the legislative majority.” At least that’s the report from a terrifying article written by Barton Gellman in The Atlantic. While this scenario is somewhat far-fetched, we should be clear […]

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The DOJ asked Congress to erode big tech’s legal protections as Trump accused firms of anti-conservative bias and ‘cancel culture’

Summary List Placement President Trump is ramping up the pressure on social media companies. At a White House event on Wednesday, Attorney General William Barr announced the DOJ had submitted legislation to reform Section 230 of the Communications Decency Act of 1996. “That legislation addresses concerns about online censorship by requiring greater transparency and accountability […]

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Israeli PM Netanyahu always brings his dirty laundry to US state visits so White House staff can clean them for free, report says

Summary List Placement Israeli Prime Minister Benjamin Netanyahu consistently brings bags of dirty laundry when he and his family visit President Donald Trump in Washington, DC, so White House staff can clean it for free, according to The Washington Post. “The Netanyahus are the only ones who bring actual suitcases of dirty laundry for us […]

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Measuring stakeholder capitalism just got easier

Good morning. Critics of the movement toward “stakeholder capitalism” like to argue that until corporate accounting and governance rules change, shareholder primacy will reign supreme. (If you didn’t understand that last sentence, read my story here.) I agree with their point. It took over a century for us to develop the elaborate accounting scaffolding that […]

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