House Democrats have released their long-awaited proposal to ban stock trading by members of Congress, senior government officials, and U.S. Supreme Court justices, with the measure seeking to cut conflicts of interest, increase transparency around enforcement, and make penalties for noncompliance more painful.
Singer-songwriter Neil Young pleaded with baby boomers to stop investing in Wells Fargo, Chase, Citibank, and Bank of America because of the banks' financial contributions to the fossil fuel industry.
Central banks have not merely inflated the bejesus out of assets prices. They have also caused the very foundations of financial markets to metastasize, yielding an endless array of new products that have no real economic function except to facilitate new forms of pure wagering.
Following revelations that Federal Reserve officials made trades in financial assets while the Fed was taking extraordinary efforts to “stimulate” the economy, Federal Reserve Chairman Jerome Powell ordered a review of the Fed’s ethics rules.
Global money managers funneled nearly $1 trillion into U.S. financial assets in the first half, signaling the American economy is primed to dominate post-COVID markets.
