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Winner takes all: The marketing of Wall StreetThe Reformed Broker details his experiences competing for clients against the big guns like Fidelity, battling against marketing campaigns which over the years helped elevate such name-brand firms onto an "exalted plane of existence."
JPMorgan Chase CEO: Shareholders had risk infoJPMorgan Chase CEO Jamie Dimon insisted his bank did its best to inform investors about its risk strategy preceding its $2 billion-plus trading loss. JPMorgan Chase used risk assessment models that provided the best information at the time, according to Dimon.
Gas prices drop, following oil's leadGas prices across the US continued to drop Tuesday, as the national average dropped below $3.50 a gallon for the first time since February. Gas prices are following oil's price decline, though oil prices ticked up slightly.
Student loans: 5 steps to pay down your debt Student loans aren't far from your mind if you've graduated. Now comes the hard part: paying for the education that you鈥檝e just completed. Where to begin? Collect all your loan paperwork and then follow these five smart steps to paying off your student loans.
Just like us: Why Republicans worry about corporate feelingsIn the upside-down world of regressive Republicanism, Senator Mitch McConnell thinks proposed legislation requiring companies to disclose their campaign spending would stifle their free speech, a concept Robert Reich finds "bonkers."
Gains made in homebuilding, but permits still below peak levelsThe New Residential Construction Report showed gains in May with single family permits increasing from April. Single family housing permits increased around 4 percent from April, and nearly twenty percent above May 2011 levels.
Jamie Dimon fields Congress questions on $2B trading lossJamie Dimon, the embattled JPMorgan Chase CEO, returns to Congress Tuesday to face more questions about the $2 billion trading loss incurred by the bank. Jamie Dimon is testifying before the House Financial Services Committee.
Washington elites talk the new 'US empire'A Washington garden party serves as a think tank hothouse, providing the Daily Reckoning with some interesting insights into the current US situation. Representing a variety of backgrounds, the group was united by a hatred of the US "empire."
Summer travel: 4 airfare price hikes and how to avoid themSummer travel can get pricey if one of these common airline glitches drives up the price of a ticket. Here are the most common airfare glitches and the best ways to avoid them, so your summer travel is fairly priced.
'Draw Something' on TV: CBS develops game show based on popular app'Draw Something,' Zynga's popular 'Pictionary'-style mobile app, has been optioned by CBS to be made into a game show. Ryan Seacrest has signed on to help produce the 'Draw Something' TV project, which will feature teams competing in front of a live audience.
Can Cameron Marlow save Facebook?Cameron Marlow's group has 12 researchers. They apply math, programming skills, and social science to mine our data for insights that they hope will advance Facebook's business and social science at large.
Payroll taxes cover about a third of Medicare costsMany Americans may believe that Medicare is financed like Social Security. They know that a portion of payroll taxes goes to Social Security and a portion goes to Medicare, and they conclude workers are paying for Medicare benefits. This is not true.- Toll of US recession: Family net worth plunged 35 percent in five yearsThe typical US household saw its net worth fall from $102,844 in 2005 to $66,740 five years later. Although the data are about 1-1/2 years old, they highlight challenges still facing consumers.
US stocks meander as European debt crisis festersUS indexes opened lower, then drifted between modest gains and losses. Homebuilders rallied after a measure of confidence rose to a five-year high. The Dow Jones industrial average closed down 25 points, to 12,741.
Direct effects of debt crisis can't explain away British deficitSome may say that Stefan Karlsson's assertion that an increasing British trade deficit is a sign of an overvalued pound, arguing instead that it reflects the euro area debt crisis. But Karlsson still maintains that there are other issues at play.
Youth of America, wake up! Your elders are using you.The fiscal gap facing the next generation of taxpayers is going to be huge. The solution include taxes, but what many young Americans don't realize is that soon they may be shouldering the majority of the country's debt, alone.
E-book battle: Libraries, publishers square off on pricingE-book publishers are worried about profits shrinking if libraries go digital, and they're hiking e-book prices. Stretched thin by lean budgets, libraries are slow to embrace digital content. Can the two sides reach a solution?
Homebuilder blues: June's Housing Market Index numbers are inWhile all indicators have made notable increases as of late, as indicated by the latest Housing Market Index numbers, conditions still remain distressed by historic standards, even as the industry starts to again see signs of life.
US stocks down early as Europe takes center stageUS stocks slipped Monday as the markets remained focused on the news in Europe. US stocks futures on the Dow fell 65 points to 12645 as optimism over Greek elections failed to dim worries over the eurozone's continuing debt issues.
Phony growth, or phony austerity? Pick your poison.Europe鈥檚 austerity policies nor America鈥檚 growth policies have worked. In Europe, governments collectively spent 44.8% of GDP in 2000. Today it is 49.2%. That鈥檚 not austerity, that鈥檚 stimulus, according to Bill Bonner.