Money, Wealth & Power—A Daily Look at the Financial World
The Treasury Department has taken the extraordinary step of cutting off one of Washington’s most entrenched contractors after a former employee leaked private tax data for President Donald Trump and other ultra-wealthy Americans. By terminating every agreement with Booz Allen Hamilton, officials are signaling that a single breach inside the Internal Revenue Service can now…
Debanking, once an obscure industry term, is suddenly at the center of a high-stakes political and legal fight. President Donald Trump has filed a multibillion-dollar lawsuit accusing one of the world’s largest banks of using account closures as a weapon against him. The case turns a technical question about risk management into a test of…
The Energy Department’s decision to unwind tens of billions of dollars in Biden-era clean energy financing has jolted investors, developers, and utilities that had banked on federal backing. By moving to scrap or rework roughly $83 billion in green loans and guarantees, the Trump administration is not just tweaking policy, it is rewriting the risk…
The Trump administration is preparing a sweeping intervention in the critical minerals sector, moving to acquire a direct equity stake in USA Rare Earth that could reshape how Washington backs strategic industries. The planned $1.6 billion commitment for a 10 percent holding would give the federal government an unusually hands-on role in a publicly traded…
President Donald Trump has spent years promising to get rid of the federal Department of Education. Now he is going further, openly musing about selling off the agency’s buildings for private development and urging that “somebody else get rich” from the real estate. The comments strip away any pretense that his campaign against the department…
Deputy Attorney General Todd Blanche is facing a formal ethics complaint that cuts to the heart of how the Department of Justice polices the fast‑moving world of cryptocurrency. At issue is whether the official overseeing key financial crime cases could fairly regulate an industry in which he personally held a significant stake while also serving…
President Donald Trump’s team is reshaping the federal bureaucracy that has been most focused on China’s technological rise, pushing out officials who built some of Washington’s toughest safeguards against Beijing-linked hardware and data flows. The removals are landing just as the administration signals a broader shift away from treating China as the central national security…
Jamie Dimon has spent years cultivating a reputation as the ultimate establishment banker, the person corporate America calls when it wants a steady hand in a crisis. Now he is discovering what it looks like when that steady hand points directly at the sitting president and says no. The clash between the JPMorgan chief and…
President Donald Trump has opened a new front in his long running clash with Wall Street, filing a $5 billion lawsuit that accuses JPMorgan Chase and its chief executive of punishing him for his politics. The complaint centers on the bank’s decision to close accounts tied to Trump and his businesses in early 2021, a…
President Donald J. Trump has moved to sharply curtail Wall Street’s role in the nation’s housing market, signing an executive order that targets large investors buying up single family homes. Framed as a defense of the American Dream, the order seeks to stop big financial firms from competing directly with families for starter houses and…