The US faces a perfect economic storm – G.G.
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Taxpayer advocate warns taxes could kill the 2nd Amendment – DSV
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Items from Professor Preponomics:
US News
Wall Street is Edging Toward Win on Derivatives Capital Rule (Bloomberg) Excerpt: “The Basel Committee on Banking Supervision on Wednesday proposed a new method for banks to assess their exposure to derivatives, which could wind up lowering the amount of capital lenders need to meet restrictions on leverage.”
6 Reasons I’m Worried Derivatives Could Take Down the Economy Again (Yahoo! Finance) Excerpt: “A number of years ago, Warren Buffett referred to derivatives as ‘financial weapons of mass destruction.’ Since then, Wall Street has tried to pooh-pooh this description, but the facts speak for themselves.”
American Executives’ Names Surface in Panama Papers (USA Today) Excerpt: “The names of hundreds of Americans have surfaced in the Panama Papers, including a handful of U.S. businessmen accused or convicted by U.S. authorities for ties to financial crimes or Ponzi schemes.”
US Judge Orders Deposition of Bernard Madoff (CNBC) Excerpt: The judge “restricted questions to the meaning of more than 91,000 transactions recorded as ‘profit withdrawal’ on the books of the former Bernard L. Madoff Investment Securities LLC.”
International News
Panama Papers Scratch the Surface of Global Shell Game (The Telegraph) Excerpt: “But as the Panama Papers leak has shown this weak, these business tactics can lead to gross distortions of the rules.”
Personal Economics and Household Finance
How to Avoid Getting Crushed by Stock Fraud (CNBC) Excerpt: “If it feels like you’ve heard this story before, it’s because you have.”
Securities Fraud Awareness & Prevention Tips (FBI) Excerpt: “The term Securities Fraud covers a wide range of illegal activities, all of which involve the deception of investors or the manipulation of financial markets.”
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