Money, Wealth & Power—A Daily Look at the Financial World
Iranian missiles came down on two American bases in Jordan late Sunday night, and by Monday afternoon President Donald Trump had said plainly what he intends to do about it. The barrage followed by hours a U.S. strike that destroyed a pair of Iranian rocket launchers on an island inside the Strait of Hormuz. Nearly…
President Donald Trump used a visit to NASA’s Johnson Space Center in Houston on Friday to sign an executive order establishing the nation’s first federal service academy dedicated entirely to space. Standing at the same center where the Artemis II crew was decorated the same afternoon, the president directed the government to begin building a…
Eric Swalwell spent seven terms in the House as one of the loudest Democratic voices against Donald Trump, and he walked away from the job in the spring with the allegations against him still unanswered. On Saturday, August 15, federal agents met him at San Francisco International Airport with a search warrant and took his…
The Walt Disney Company and its ABC network went to federal court in Washington on August 18 to shut down a Federal Communications Commission proceeding that has been grinding along since spring, when the agency ordered all eight ABC-owned television stations to justify their licenses years ahead of schedule. The complaint asks the U.S. District…
President Donald Trump tried to make Harvard answer for campus antisemitism by taking back billions of dollars in federal research money. A federal judge has thrown the Justice Department’s case out. The decision is a sharp courtroom defeat for the administration, but it is not a clean bill of health for Harvard. It says the…
On August 12, President Donald Trump signed a national security memorandum that does something no American president had been willing to do before: it authorizes vetted private companies to go on offense in cyberspace, breaking into and disrupting the foreign criminal networks that have spent years draining Americans’ bank accounts. For decades, “hacking back” was…
A federal appeals court has put a hard legal wall in front of President Donald Trump’s planned $400 million White House ballroom. The 2-1 ruling says the president cannot keep building the massive aboveground addition unless Congress gives the express approval that the judges concluded federal law requires. The decision is not the final word,…
The Senate Homeland Security and Governmental Affairs Committee spent Thursday morning doing something the Senate does only a handful of times in a generation. It voted to hold a former federal official in criminal contempt of Congress. Then its chairman announced he was not going to bother asking the rest of the Senate whether it…
The Federal Trade Commission says 9,419 checks totaling more than $672,000 are now going to people who bought facemasks and other protective equipment from Trend Deploy. This is a real payment run, not a new application program and not a broad COVID-era benefit. The money is for identified consumers in a specific FTC case, and…
Savers chasing high CD yields at a single bank face a hard ceiling most do not fully understand: the Federal Deposit Insurance Corporation caps coverage at $250,000 per depositor, per insured bank, for each ownership category. That limit applies whether the money sits in one jumbo CD or is spread across a dozen shorter-term certificates…
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