Bank of America Corp. was not liable for fraud and subject to a penalty of over $1.2 billion for its actions before the economy collapsed in 2008 despite a jury’s finding to the contrary, a federal appeals court ruled Monday. The 2nd U.S. Circuit Court of Appeal in Manhattan said there was insufficient evidence for […]
House GOP plan to take down IRS chief
Congressional Republicans have long had IRS chief John Koskinen in their sights. In October of 2015, he narrowly avoided impeachment. Now, they’re demanding his resignation — or else. A top House Republican introduced a resolution Wednesday censuring the IRS chief, marking the latest step in the GOP’s war against the agency over its treatment of conservative […]
HUGE diamond sells for record-breaking price (pics)
The ‘Oppenheimer Blue’ has sold for a hammer price of 50.6 million Swiss francs ($51.3 million), setting a new record for a diamond sold at auction. The 14.62-carat stone, billed as the largest Vivid Blue diamond ever put up for auction, obliterated Christie’s pre-sale estimate range of between 38 million and 45 million Swiss francs. […]
Trump’s business flourishing since presidential run
Donald Trump has told the government that his myriad businesses have flourished with rising revenues since his improbable political success, according to financial documents released Wednesday. The presumptive Republican presidential nominee said revenue at his businesses grew by $190 million over the past 17 months, and he had $557 million in earned income. The Federal […]
Make less than $47K? You need to read this
More than 4 million U.S. workers will become newly eligible for overtime pay under rules issued Wednesday by the Obama administration. The rule seeks to bolster overtime protections that have been eroded in recent decades by inflation. A diminishing proportion of workers have benefited from overtime regulations, which date to the 1930s and require employers […]
Warren Buffett’s latest big purchase is…
Investors might question Warren Buffett’s long-standing aversion to tech stocks after his Berkshire Hathaway bought 9.8 million shares of Apple. Buffett has always avoided technology companies because he said it was too hard to pick which ones would prevail long term, although he made an exception to that rule to buy a major IBM stake […]
Closing in? Obama crony faces impeachment
A powerful House committee has moved to impeach the head of the Internal Revenue Service, saying he violated the public trust and illegally targeted conservative groups. After two years of investigation into the IRS, Republicans have finally had enough. On Friday, the Judiciary Committee announced two hearings on impeachment of IRS commissioner John Koskinen, an appointee of […]
Presidential hair sells for HOW MUCH!?
A lock of hair from Thomas Jefferson has sold at auction in Texas for $6,875, nearly 190 years after the former president died. Heritage Auctions in Dallas said Saturday’s sale involved 14 strands that were snipped by Jefferson’s personal physician at the time of the statesman’s death on July 4, 1826. A Heritage Auctions statement […]
Corruption and bribes account for $2 trillion of the global economy
A global finance leader asserts that as much as $2 trillion, or 2 percent of the global economy, in bribe money courses through developing and developed countries each year, undermining economic growth and diminishing basic services most needed by the poor. “Corruption has a pernicious effect on the economy,” the International Monetary Fund’s managing director, […]
Man wins $1 million lottery — again!
A man has beaten the odds by winning $1 million in the New York Lottery for a second time. Lottery officials will be revealing the $1 million winner Wednesday on Long Island. They say the same Suffolk County man won $1 million in 2012. The check presentation will be made at a gas station and […]
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