Congressional Republicans are planning a massive overhaul of the nation’s tax system next year, a heavy political lift that could ultimately affect families at every income level and businesses of every size. Their goal is to simplify a complicated tax code that rewards wealthy people with smart accountants, and corporations that can easily shift profits – and jobs – overseas.
Category: Mortgage
Banksters Pay $12.5 Billion to Settle Probes
Germany’s largest lender Deutsche Bank and Swiss banking giant Credit Suisse have agreed to pay a collective $12.5 billion to settle litigation stemming from their bundling of risky subprime and Alt-a mortgages during the mid-2000s credit bubble, which resulted in a severe housing collapse, billions of dollars of investor losses and widespread claims of deception. The agreements, struck just before a new administration takes the White House, adds resolution to the Obama administrations efforts to hold Wall Street’s largest banks accountable for their activities during the bubble and bust of the U.S. housing market.
Banksters Pay $12.5 Billion to Settle Probes
Germany’s largest lender Deutsche Bank and Swiss banking giant Credit Suisse have agreed to pay a collective $12.5 billion to settle litigation stemming from their bundling of risky subprime and Alt-a mortgages during the mid-2000s credit bubble, which resulted in a severe housing collapse, billions of dollars of investor losses and widespread claims of deception. The agreements, struck just before a new administration takes the White House, adds resolution to the Obama administrations efforts to hold Wall Street’s largest banks accountable for their activities during the bubble and bust of the U.S. housing market.
Banks lift global stocks, dollar holds near 14-year peak
European stocks edged higher on Friday, helped by banks after two regional bellwethers settled investigations into U.S. mortgage securities, while oil and the dollar were on the back foot in light trading ahead of the Christmas break. Traders work at their desks in front of the German share price index, DAX board, at the stock exchange in Frankfurt, Germany, December 22, 2016.
Stocks set to shine; Coca-Cola deal; Watching the banks
The Dow Jones industrial average and Nasdaq hit fresh all-time highs on Tuesday and they look set to continue lighting up Wall Street on Wednesday. 2. Coke’s Africa move: Coca-Cola announced Wednesday it’s paying nearly $3.2 billion to Anheuser-Busch InBev to buy the beer giant’s majority stake in Coca-Cola Beverages Africa.
On Toronto Tolls, Marxists Align with Auto Industrial Complex
What’s left and what’s right? Usually it is obvious, but sometimes you have to take a step back and consider the bigger picture. For example, the Toronto toll debate has exposed a lack of scrutiny of the leading source of corporate profit over the past century by many supposed leftists.