Money, Wealth & Power—A Daily Look at the Financial World
California is preparing to vote on a one-time levy on its richest residents that is being sold as a modest 5 percent charge on extreme fortunes. On paper, the idea sounds like a limited emergency measure aimed squarely at billionaires. In practice, the structure of the proposal could make the effective hit far larger, reshaping…
Bill Hwang, the once obscure hedge fund manager whose leveraged bets detonated into a $10 billion margin-call disaster, is now asking the White House to wipe his record clean. After an 18-year prison sentence and one of the most spectacular collapses in recent Wall Street history, his plea for mercy forces a fresh reckoning with…
Veterans who spent years in uniform are now watching the institution meant to care for them shrink in real time, and many describe the latest plan to cut 25,000 Department of Veterans Affairs jobs as nothing less than a betrayal. The VA insists it is trimming vacant positions and modernizing, but the scale and timing…
Peter Schiff built his reputation arguing that Gold would ultimately beat flashy growth stocks, yet his recent regret over skipping the Magnificent 7 shows how even conviction investors can misjudge a cycle. I see his admission as a case study in balancing long-term macro views with the brutal math of missed compounding. Each of the…
Canada’s new trade pact with China has detonated a political storm on both sides of the border, with one U.S. senator declaring that Washington “just got absolutely rolled.” The agreement, centred on electric vehicles and farm exports, is being hailed by Prime Minister Mark Carney as a strategic breakthrough and condemned by critics as a…
Jamie Dimon used his latest appearance in Davos to turn the spotlight back on the people in the room. Instead of the usual self-congratulation, he told fellow elites they had not lived up to their own rhetoric about solving global problems and making the world fairer. His critique landed at the same moment he was…
Wall Street is riding a relief rally as investors respond to a tentative framework over Greenland and the sudden disappearance of a tariff threat that had been hanging over global trade. Major U.S. benchmarks have snapped back from their worst stumble in months, with risk appetite returning across equities, commodities and even some corners of…
The woman at the center of Minnesota’s staggering $250 million welfare fraud scandal now says she has “lost everything,” a plea for sympathy that collides head‑on with the scale of the damage she helped inflict. Jurors found Aimee Bock, the founder of Feeding Our Future, guilty of orchestrating a vast scheme that siphoned pandemic meal…
US equities snapped back sharply after President Donald Trump dialed down his confrontation with Europe and eased the immediate threat of new tariffs. A bruising sell-off earlier in the week gave way to a broad-based rebound as investors recalibrated the risk of a transatlantic trade fight and rotated back into growth-sensitive sectors. The shift in…
The Supreme Court has signaled deep unease with President Donald Trump’s attempt to oust Federal Reserve governor Lisa Cook midterm, a move that would give the White House sweeping leverage over interest rate policy. During arguments, justices across the ideological spectrum pressed Trump’s lawyers on whether the Constitution really allows a president to fire a…