Dollar Declines Most Since 1985 Plaza Accord on Fed Bond Buying
The dollar dropped the most against the currencies of six major U.S. trading partners since the Plaza Accord almost a quarter-century ago as the Federal Reserve’s plan to purchase Treasuries spurred speculation that it’s debasing the greenback. “What it introduces is the problem of the currency to the extent that the Fed is buying what … Read more
New York Democrats Indicted in Alleged $30 Million ‘Pay-to-Play’
Democratic political consultant Hank Morris and a top lieutenant to disgraced former New York Comptroller Alan Hevesi were indicted Thursday in a scheme to trade lucrative investments in the state pension fund for more than $30 million in kickbacks, gifts and campaign contributions, the New York Post reported. The 123-count indictment against Morris and former … Read more
AIG Sues Taxpayers for $306 Million – AIG paid $218 million in bonuses last weekend, higher than the $165 million that was previously disclosed
Documents turned over late Friday show AIG paid $218 million in bonuses last weekend, higher than the $165 million that was previously disclosed, said the office of Attorney General Richard Blumenthal, who had issued a subpoena. Bonuses were “showered like confetti” on AIG employees, Blumenthal said. AIG had previously disclosed that the company was contractually … Read more
