Markets and Politics
Major News Sources
Below you will find headlines for stories appearing today in major newspapers and news services around the world. We have separated these into two sections: news about Markets, and news about Politics. Clicking on any headline will take you directly to the news story at its source. These headlines are automatically updated in real time. Check back often to read about the latest developments in markets and politics.
We have also provided links to major newspapers and periodicals that provide in-depth coverage of issues related to capitalism. Bookmark this page in your web browser. By returning here each day, in one place you will have a digest of all the top stories and information sources.
Markets News
Apple CEO Tim Cook Pounds Another Nail Into the Keynesian Coffin
May 24th 2013 | 4:27 pm
As most readers are now aware, technology giant Apple Inc. has in the past few days been the recipient of juvenile attacks from U.S. Senators on both sides of the political aisle. Its alleged misdeed: the legal shielding of overseas earnings from corporate taxation stateside. Funny here is that back in 2001 Sarbanes-Oxley was foolishly passed to ensure that CEOs watch out for shareholders. Twelve years later Apple chief Tim Cook is under attack for doing just that. Congress, ever eager to spend money not its own, is bothered that Apple would have the temerity to not expose all of its earnings...
The Amazing Kreskin For Fed Chair
May 24th 2013 | 4:27 pm
On September 29, 2008, Morgan Stanley pledged $66.5 billion in collateral at the Federal Reserve's recently expanded Primary Dealer Credit Facility (PDCF). Aiming to take over in an intermediary role from the private tri-party repo market, the Fed expanded its list of eligible collateral to become a full substitute. For its pledged collateral, Morgan Stanley obtained $61.3 billion in "cash" from the Fed, for an effective haircut of about 8%. That arrangement has subsequently been criticized as inadequate collateralization given what was actually pledged. Morgan Stanley...
Now The Gibson Guitar Raids Make Sense
May 24th 2013 | 2:01 pm
IRS Scandal: The inexplicable raid nearly two years ago on a guitar maker for using allegedly illegal wood that its competitors also used was another targeting by this administration of its political enemies. On Aug. 24, 2011, federal agents executed four search warrants on Gibson Guitar Corp. facilities in Nashville and Memphis, Tenn., and seized several pallets of wood, electronic files and guitars. One of the top makers of acoustic and electric guitars, including the iconic Les Paul introduced in 1952, Gibson was accused of using wood illegally obtained in violation of the century-old...
The Amazing Kreskin For Fed Chair
May 23rd 2013 | 10:59 pm
On September 29, 2008, Morgan Stanley pledged $66.5 billion in collateral at the Federal Reserve's recently expanded Primary Dealer Credit Facility (PDCF). Aiming to take over in an intermediary role from the private tri-party repo market, the Fed expanded its list of eligible collateral to become a full substitute. For its pledged collateral, Morgan Stanley obtained $61.3 billion in "cash" from the Fed, for an effective haircut of about 8%. That arrangement has subsequently been criticized as inadequate collateralization given what was actually pledged. Morgan Stanley...
The Biggest Loser Wins
May 23rd 2013 | 2:48 pm
While the world's economies jockey one another for the lead in the currency devaluation derby, it's worth considering the value of the prize they are seeking. They believe a weak currency opens the door to trade dominance, by allowing manufacturers to undercut foreign rivals, and to economic growth, by fighting deflation. On the other side of the coin, they believe a strong currency is an economic albatross that leads to stagnation. But the demonstrable effects of currency strength and weakness reveal the emptiness of their theory. A country that attracts investment from abroad...
Apple CEO Tim Cook Pounds Another Nail Into the Keynesian Coffin
May 23rd 2013 | 9:30 am
As most readers are now aware, technology giant Apple Inc. has in the past few days been the recipient of juvenile attacks from U.S. Senators on both sides of the political aisle. Its alleged misdeed: the legal shielding of overseas earnings from corporate taxation stateside. Funny here is that back in 2001 Sarbanes-Oxley was foolishly passed to ensure that CEOs watch out for shareholders. Twelve years later Apple chief Tim Cook is under attack for doing just that. Congress, ever eager to spend money not its own, is bothered that Apple would have the temerity to not expose all of its earnings...
Tax Individuals, Not Couples
May 22nd 2013 | 6:15 pm
Both advocates and opponents of same-sex marriage eagerly await the Supreme Court's decisions on two cases challenging the constitutionality of laws - one federal and one state - that deny recognition for same-sex marriage. These court cases come in the wake of increasing public support for same sex marriage: according to a recent Gallup poll, half of Americans now support same-sex marriage. Last week, Minnesota adopted legislation to allow same-sex marriage, joining the 11 states and the District of Columbia that had already taken that step. This subject divides Americans, pitting...
The Real Washington Scandal? The War On Youth
May 22nd 2013 | 12:13 am
The media are consumed with multiple Washington scandals: the IRS, Benghazi, the Justice Department wiretapping. But what about the tragedy of the dim prospects for this month's college graduates? In a commencement address at Morehouse College on Sunday, President Obama told graduates, "Your generation is uniquely poised for success." But young Americans who campaigned for Obama, voted for Obama, and turned out their friends for Obama are graduating from college with substantial debt, few job prospects, and the requirement to buy expensive health insurance. They might be poised...
If The IRS Bothers You, So Should The FSOC and CFPB
May 22nd 2013 | 12:09 am
The recent revelations about the goings-on at the Internal Revenue Service have gotten a lot of attention. When the patina of government impartiality shows itself so disturbingly thin, people of all political stripes sit up and take notice. The hard lessons drawn from the IRS experience should inform the broader policy debates about regulatory structure and oversight. When the IRS activities came to light, the president expressed his disapproval and cited the agency's independence. As others have pointed out, the IRS is actually not-as agencies go-particularly independent. It is part of...
Is This Really An Obamacare 'Train Wreck'?
May 21st 2013 | 12:40 pm
Senate Finance Committee Chairman Max Baucus, an architect and supporter of the Affordable Care Act (ACA), recently caught the Administration's attention when he voiced his concerns about the implementation of the health exchanges -- the centerpiece of Obamacare now scheduled to go live on October 1 -- saying that he sees "a huge train wreck coming." President Obama responded to concerns about implementation, emphasizing that he is 110 percent committed to getting implementation done right, but he also cautioned that there will be mistakes and hiccups. While the Administration...
Politics News
Insurance Commissioner urges health reform plans
September 6th 2012 | 3:43 pm
Kansas Insurance Commissioner Sandy Praeger says the state needs to decide soon what health benefits it would offer under federal health care reform.During a meeting with health care officials on Wednesday, Praeger says if Kansas doesn't pick its own plan for a health insurance exchange, the federal government will make the decision for the
Police in legal minefield on Ariz. immigration law
September 6th 2012 | 3:40 pm
More than two years after it was signed into law, the most contentious part of Arizona's landmark immigration legislation is expected to go into effect following a federal court ruling issue late Wednesday.But the U.S. Supreme Court laid a legal minefield that Arizona now must navigate when the critical provision takes effect. The clause, one of
Biden will head to Ohio's Appalachian region
September 6th 2012 | 3:37 pm
Vice President Joe Biden will campaign this weekend in Ohio's Appalachian region, an area loaded with white, working-class voters that President Barack Obama's campaign hopes to appeal to in the aftermath of the Democratic National Convention.The Obama campaign has so far announced rallies in Zanesville in eastern Ohio and the southeastern Ohio
Lingle, Hirono meet in first debate for US Senate
September 6th 2012 | 3:34 pm
Former Hawaii Gov. Linda Lingle and U.S. Rep. Mazie Hirono are facing each other in the first of five general election debates in their race to replace U.S. Sen. Daniel Akaka.The Senate hopefuls planned to debate for about 90 minutes on Thursday at a luncheon hosted by the Honolulu Japanese Chamber of Commerce.The chamber is billing the event as a
Pine Bluff election in question due to Census data
September 6th 2012 | 3:07 pm
Pine Bluff Mayor Carl Redus Jr. has filed a lawsuit that seeks to stop the November mayoral election.Redus wants to remain mayor for an additional two years to realign the city's election cycle, which needs to change because of new U.S. Census data.The Arkansas Democrat-Gazette reports ( http://is.gd/Y36rVi) that Pine Bluff's population dropped
Obama to sketch path forward after Clinton pitch
September 6th 2012 | 3:01 pm
President Barack Obama goes before the Democratic National Convention and the nation on Thursday for a capstone speech designed not just to persuade undecided voters to swing his way in a tight election but to put fire in the belly of his supporters and get them to come out on Election Day.Obama senior adviser David Plouffe promised the president
Longoria promises 'no empty chairs' at convention
September 6th 2012 | 2:58 pm
Actress Eva Longoria says her speech to the Democratic convention will be very different from Clint Eastwood's speech to Republicans.Longoria tells NBC's "Today" there will be no empty chairs.Eastwood gave a bizarre and rambling address last week at the Republican convention, talking to an empty chair as he pretended to converse with
Longoria promises `no empty chairs' at convention
September 6th 2012 | 2:01 pm
Actress Eva Longoria says her speech to the Democratic convention will be very different from Clint Eastwood's speech to Republicans.Longoria tells NBC's "Today" there will be no empty chairs.Eastwood gave a bizarre and rambling address last week at the GOP convention, talking to an empty chair as he pretended to converse with President
Vice president will head to Appalachian Ohio
September 6th 2012 | 1:58 pm
Vice President Joe Biden will campaign in Ohio's Appalachian region in the aftermath of the Democratic National Convention.The Obama campaign had said earlier that Biden would spend this weekend in Ohio. So far, it has announced rallies in Zanesville in eastern Ohio and the southeastern Ohio college town of Athens.The mostly rural region has been
Obama advisors don't expect big bounce in polls
September 6th 2012 | 1:34 pm
President Barack Obama is expected to lay out his vision for a second term, even as advisers say they don't anticipate a big bounce in the polls following the Democratic National Convention.White House senior adviser David Plouffe (pluhf) tells ABC's "Good Morning America" he expects the race to remain "tight as a tick" until
