Former New York Giants, Miami Dolphins, and New England Patriots cornerback Will Allen was sentenced to six years in prison and three years of supervised release and ordered to pay $16.8M in restitution by a federal judge for his role in a multimillion-dollar Ponzi scheme.
Ed. Note: This article first appeared in Bloomberg A powerful conservative group backed by billionaire brothers Charles and David Koch is questioning a plan to spend $1T on the nation’s infrastructure and warning that one of President Trump’s signature policy initiatives could become a “spending boondoggle.” In a memo released, Freedom Partners cautions Trump and the Republican-controlled […]
After the White House, the really big paychecks come from publishing and public appearances. But unless the Obamas have been concealing a lot of both cash and ambition, they’re going to need a lot of time to catch up with the Bushes and Clintons alike. Barack and Michelle Obama left the White House with matching […]
Ed. Note: This article first appeared in Bloomberg Good news for everyone waiting for a bubble to burst. Predicting sector-wide crashes in the equity market isn’t impossible. That’s the conclusion of Harvard University researchers who studied boom-and-bust cycles in publicly traded United States industries since 1926. In a new paper, Robin Greenwood, Andrei Shleifer and Yang […]
Ed. Note: This article first appeared in Politico While the most emotional moment of President Donald Trump’s appearance before the joint session of Congress was the tribute to fallen warrior William “Ryan” Owens, the most striking aspect of tonight’s lengthy speech was not the lyrics, but the tone. In a sharp departure from his acceptance speech […]
BlackRock, the world’s largest money manager, reduced annual employee bonuses by an average of 2 percent to 4 percent for last year, the first such cut since 2011, a person with knowledge of the matter said.
Ed. Note: This article first appeared in Insurance News Net The Office of Management and Budget found the controversial Department of Labor’s fiduciary rule to be “economically significant” in a review completed Monday, a finding that puts a rule delay in doubt. The OMB reviewed a DOL request to delay the fiduciary rule. The “economically significant” […]
Ed. Note: This article first appeared in Bloomberg You can thank the little guy for Dow 20,000. That’s the takeaway from data tracking money flows into and out of stocks, according to an analysis by JPMorgan. The telltale sign retail investors are behind the longest string of U.S. stock highs in decades? An $83B surge of […]
Ed. Note: This article first appeared in Advertising Age It was the blunder heard ’round the world. During Sunday’s Academy Awards, presenters Warren Beatty and Faye Dunaway mistakenly read the wrong Best Picture winner as “La La Land,” not “Moonlight,” after receiving the incorrect card on stage. The flub was quickly, if awkwardly, corrected, but it didn’t take […]
It looks like the best the White House can do is keep kicking the regulatory ball down the road, leaving the fiduciary standard in limbo. The DOL won’t enforce the new rules, but they aren’t going away any time soon either. The DOL fiduciary rule, which requires financial advisors to make sure that all decisions […]