Tax Reform in This Election Year: It's Not Likely
Which Credit Card Rewards Does the IRS Care About?
You had to see this coming. The U.S. Federal Reserve is now being subjected to cries for transparency that it has said are necessary for the financial institutions it regulates. The campaign is being spearheaded by Florida Democratic Congressman Alan Grayson. Believe it or not, no one currently audits the Federal Reserve's accounts. And some skeptics have come to think that the Federal Reserve's fiscal house is not in order and that the Fed has actually not been able to balance its books and account for all the assets it has purchased. Zero Hedge claims the Fed cannot account for nearly $9 trillion in off-balance sheet transactions.
Zero Hedge posts
Feed$9 Trillion Fed blackhole draws cries for GAO audit
Continue reading $9 Trillion Fed blackhole draws cries for GAO audit
When the S & P Index is hard to borrow, is the PPT in the house?
The PPT is the vaunted Plunge Protection Team, a much derided but often alluded to collusion of the major prime brokerages (Goldman, Morgan, Stanley, Citi) to halt major stock market declines by manipulating the market. It's never been proven, of course. But a firestorm of comments on ZeroHedge and in other places where hardcore (and some institutional traders) gather has zeroed in on the difficulties many have had borrowing shares of the S&P Index (SPY) in order to short the index. The commenters believe this is a result of the PPT holding back shares to stop any shorts that could torpedo the ongoing rally.Continue reading When the S & P Index is hard to borrow, is the PPT in the house?
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Johnson & Johnson's Income Falls 23%
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