Category Archives: Wall St.

Brian Ross News


Brian Ross reported on ABC that Trump ordered Flynn to contact Russians before  the election.

Apparently Wall Street investors believe what the see on on TV  and the Dow plunged 350 points.

But ABC says Ross got it wrong and suspended him for four weeks.

Then within a week CNN one upped Ross.

David Harsanyi says political reporters “regret the error.” “Again and again.”

Update 12/10/17: The cartoonist carelessly wrote NBC instead of ABC on Ross’s mic. He has been suspended.

Two Headed Bureaucratic Monster

bureaucratic monster

Richard Cordray resigned as Director of the Consumer Financial Protection Bureau on Friday because he wants to run as a Democrat for governor of Ohio.

On his way out the CFPB door, Cordray appointed his chief of staff, Leandra English, deputy director. That spot had been vacant for two years. But the Deputy Director can serve as acting director in the absence of the director, according to the Dodd Frank Act, so it must have seemed like a good time to fill the vacancy.

Trump, however, countered that move by appointing OMB chief Mick Mulvaney acting director. The Federal Vacancies Reform Act gives him the authority to do so.

Two Headed Bureaucratic Monster

On Monday morning both “acting directors” showed up for work. CFPB’s own general counsel opined that the Vacancies Act trumps Dodd Frank. So she sided with Trump.

Uber Founder Ejected

uber founder ejected

Uber investors forced C.E.O. Travis Kalanick out of the company he founded.

Here’s Reuters:

The resignation sent shockwaves through Silicon Valley and leaves Uber’s board of directors with the problem of finding a dynamic leader who also has a steady hand needed to heal Uber after a bruising six months.

Uber Founder Ejected

And here’s MIT Technology Review on Uber’s driverless car problem:

Its new CEO will inherit many problems, but a business plan based on the elusive dream of driverless cars is the largest.

Bull in the Swamp

dow bull

When President Trump rides high so does the stock market. The Dow Bull has surged 2,700 points since his election.

Trump and Bull Get Swamped

But as allegations from unnamed sources rise in the media, President Trump sinks in the swamp. Apparently, so does the stock market. The Dow lost 373 points on Wednesday. The experts say investors worry that if Trump goes down so will his agenda for tax cuts, less regulation, and more growth.

Most experts that is.  Wharton professor Jeremy Siegel, says the market could spike 1,000 points if Trump resigns.

Update: Well, as of noon Friday the Bull has clawed back over 200 points of Wednesday’s losses. Maybe I was just looking for an excuse to draw an alligator.

 

 

 

Obama Wall Street Fat Cats Speech

fat cats

Barack is back. He will give a speech to the Wall Street firm Cantor Fitzgerald in September. HIs fee? $400,000. The same amount as his annual salary as president.

President Obama had harsh words (at no extra charge) for Wall Street bankers in 2009. He called them “fat cats who don’t get it.”

Elizabeth Warren isn’t happy.