Because truth in labelling laws are among the laws from which Washington feels exempt, the titles of congressional legislation often take liberties with the facts (e.g., the Patient Protection and Affordable Care Act). The Stop Settlement Slush Funds Act, however, precisely names the ailment for which it is the remedy. The Justice Department has negotiated “bank settlement agreements†whereby ...
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Banking poses a shrinking risk to taxpayers
There is some good news in bank land. The Federal Deposit Insurance Corp. just released its quarterly banking profile update (executive summary), and it is filled with signs of improvements in the state of the industry. Just some highlights: Net operating revenue is rising, as is loan growth and revenue. Quarterly net income was the highest since the financial crisis ...
Read More »Trump’s immigration ideas are as bad as ever
After more than a week of conflicting accounts of Donald Trump’s views on immigration, a period of confusion marked by words such as “softening,†Trump made his intentions clear last Wednesday. The line is as hard as ever, even if the policy is all over the place. In the afternoon, Trump had a strange, subdued meeting with Mexican President ...
Read More »Bankruptcy law fresh lease of life for SMEs
The Small and Medium Enterprises (SMEs) will benefit the most from the new bankruptcy law whose final draft was approved by the UAE cabinet on Sunday. It will help them ease their functioning while bolstering them to shore up investment. Earlier, the SMEs — as well as other companies and businesses — who failed to pay back their debts ...
Read More »Judicial Watch’s pursuit of Clinton goes too far
The Clintons have been subject to fishing expeditions before, but why is a federal court making Hillary Clinton give sworn responses now to questions about her use of a private e-mail server back when she was secretary of state? This all stems from a Freedom of Information Act lawsuit brought by a conservative group seeking State Department information about ...
Read More »Is the age of Asian sweatshops coming to an end?
For 30 years, the word “sweatshop†has conjured up a very specific image: low-wage Asian workers making branded clothes in crowded, unsafe factories for consumers overseas. The power of that image has launched human rights campaigns, altered how major companies source their products and informed (often incorrectly) how politicians in rich countries shape their trade policies. Now that image is ...
Read More »The next successful hack may be your fault
It’s a near-certainty that your organization’s computer system has been or will be broken into. And even if you’re security-conscious and vigilant, you may be to blame. The overwhelming majority of hacks — including the huge Sony attack of 2014, the recent intrusions into the U.S. Democratic National Committee’s network and, probably, the $81 million Bangladesh Bank heist that pointed ...
Read More »A new era of labour scarcity in US?
Forget the “gig economy†— at least for now. On Labour Day 2016, we are in the midst of a historic transformation of the American job market. Popular attention focuses on Uber and similar internet-based networks that unite buyers and sellers. “TaskRabbit,†for example, creates a platform for people who need something done (grocery shopping, plumbing) and those willing, ...
Read More »Nafta didn’t help Mexico more than the US
The North American Free Trade Agreement, Donald Trump said on Wednesday, “has been a far greater benefit to Mexico†than the U.S. Just minutes before, Mexican President Enrique Pena Nieto, standing by Trump’s side in Mexico City, said Nafta had done both countries “a lot of good.†Trump disagrees over which country benefited the most, but he didn’t disavow ...
Read More »US should help China help out on North Korea
Barack Obama and Xi Jinping have obvious disagreements over how to handle North Korea’s illicit weapons program. China is angry about U.S. plans to deploy advanced missile defenses in South Korea to counter the threat, while Obama faces pressure to sanction Chinese banks and companies that help sustain Kim Jong Un’s nuclear ambitions. But the two presidents still have ...
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