US Chamber of Commerce No Longer Represents Business

In 1912, the U.S. Chamber of Commerce was created at the behest of President William Howard Taft as a business counterweight to the growing labor movement. To say it was a success is an understatement. While organized labor has languished, the Chamber has become the single largest lobbying organization in the country. According to Open…

Read More

The post US Chamber of Commerce No Longer Represents Business appeared first on The Big Picture.

Bank Lobbyists Rebuttals to Fiduciary Standards

With the new DOL regulations set to be released this week, its time to revisit the following by Pat Cleary of Alpha Architect:     Top 10 Phrases from Bank Lobbyists and their Translation 1) This new standard will limit investors’ choice of retirement options. “This new standard will definitely limit my choice of yachts.” 2) Investors will “go it…

Read More

The post Bank Lobbyists Rebuttals to Fiduciary Standards appeared first on The Big Picture.

McClatchy on “The Secret Shell Game”

Great coverage on the Panama Papers from the team at McClatchy:   A look inside how the wealthy and famous hide money. Video: The secret shell game explained SERIES Massive leak exposes dark world of shell corporations Mexican tycoon sought shelter for his millions Secret offshore money helps fuel Miami real estate boom Secret offshore…

Read More

The post McClatchy on “The Secret Shell Game” appeared first on The Big Picture.

Bad Broker!

Source: Bloomberg News   Bad brokers don’t leave the business; they just move on to a different firm. That is one of the key findings of a study of broker misconduct by professors at the business schools of the University of Chicago and University of Minnesota. The study, titled “It Just Got Even Harder to…

Read More

The post Bad Broker! appeared first on The Big Picture.

A Dubious Lawyer’s Dubious Tax Claims Against Vanguard

I have been following a bizarre and interesting story during the past six months. It involves intrigue, ethical conflicts and potentially enormous sums of money. It first came to my attention last September when a Reuters story reported that Vanguard could be forced to raise fees to cover unpaid taxes. It was a little too…

Read More

The post A Dubious Lawyer’s Dubious Tax Claims Against Vanguard appeared first on The Big Picture.

The Big Short Trailer 2

When four outsiders saw what the big banks, media and government refused to, the global collapse of the economy, they had an idea: The Big Short. Their bold investment leads them into the dark underbelly of modern banking where they must question everyone and everything. Based on the true story and best-selling book by Michael…Read More