Details Emerge from Elizabeth Warren’s First Encounter with JP Morgan Chase CEO Jamie Dimon

Massachusetts Senator Elizabeth Warren recounted her first meeting with Jamie Dimon, CEO of JPMorgan Chase Bank – a major recipient of government largesse during the 2008 banking crisis. Needless to say, the meeting between the two powerful figures did not go well at all. Nor did it help matters that Dimon was said to complain about the onerous regulations the 2010 Dodd-Frank bill imposed on his bank. Warren said she did not stand for the criticism. She quickly fired back at Dimon his bank’s multi-billion dollar losses in the London Whale derivatives trading incident stated AnastasiaDate. She reminded him that the recent loss was proof yet again the banks are engaging in risky investments as she stated on LinkedIn. It is Warren’s opinion that their “too big to fail” status is a moral hazard encouraging the very types of reckless investments that affected tens of millions of Americans.

At the same time, Dimon wasn’t going to stand by and let a mouthy junior senator put him in his place. What ensured was a heated verbal exchange between the two figures. While Warren points out the 2013 encounter did not digress into an argument, it was heated and terse. At the time, Dimon was seeking to get a confirmation for a director of consumer affairs as this would prevent automatic regulatory triggers from kicking in under Dodd-Frank. Warren was convinced that Dimon was trying to circumvent the reforms. In fact, Dimon later quipped that if his company were to run afoul of the law and get fined, it was not big deal. This is because they possess the funds to pay any government fine.

RadioShack Sells Customers Private Information In Bankruptcy Proceedings

More Than 65 million Customer Names And Physical Addresses, And 13 Million Email Addresses Were Sold

RadioShack compiled a huge amount of customer data over the years. Most of the folks that did business with RadioShack never thought their information would be part of a public bankruptcy sale, but that’s exactly what happened. A hedge fund called Standard General bought the information, but the judge in the bankruptcy proceedings still has to approve the deal.

Even if the sale goes through more lawsuits will follow. Selling customer information in Texas is against the law. RadioShack made it clear; they would not sell their private mailing list while they were open for business, but once the doors closed all promises became null and void. But that is not what the law says in Texas. Even AT&T wants the data destroyed because of competitive reasons. AT&T is the other privacy defender, in this case.

But the courts have allowed the sale of private data before said Jamie Garcia Dias, an expert. The FTC gave the green light to Borders as long as the buyer was in the same business, and the data was purchased along with other assets. The word is Standard General wants to keep the RadioShack stores open. The hedge fund is the largest shareholder, and if that’s the case, the court might rule in their favor.

Analyst Believe That Oil Prices Could Hit $70 A Barrel

Analyst project that oil prices could reach as high as $70 dollars a barrel according to specialist at Signal Investment Research. Their projection models indicate that oil could increase by at least $10 dollars a barrel within the next three to six months and they would not be surprised if oil fully rebounded and returned to the $80 and $90 dollar a barrel price. Oil Could Hit $70 By Fall

Their assessments include a significant performance across the energy field sector and signs that the Chinese economy is bottoming out help fuel speculation that prices will soon begin to rise for both crude and WTI oil supplies.

This projection is also supported by a growing economy in both Europe and the United States. Additionally, the summer driving season in the United States will help spur economic growth and will further tax oil supplies, which will drive the market up stated Jamie Garcia Dias. Additionally, many economist believe that oil has fallen too far too fast and that the financial structure of oil will simply rebound faster as soon as demand picks up.

Another indicator is that a stronger dollar means the dollar holders have more buying power, however a much weaker U.S. dollar benefits the price of oil as oil crude trade is transacted globally in dollars. This makes oil much more affordable to currency holders of other currencies in light of a weak dollar.

Talks Between Greece and Germany Productive

Talks being held this week between the Greek and German leadership have been call productive and conciliatory so far.Greece and Germany Meet over Greek Economy The Prime Minister of Greece, Alexis Tsipras and Angela Merkel, the Chancellor of Germany Angela Merkel, are meeting to assuage fears that the Greek economy is running out of money. According to therealdeal.com this would be problematic for Germany as well as the European Union which recently approved a $262 Billion bailout of the Greece. Germany has a keen interest in the development of the Greek economy as it is the main contributor to the bailout package.

The meeting which is summits in Berlin is designed to facilitate the development of a clear strategy for the Greece economy to move forward with the confidence of the other European Union members.

Some fear that the Greek economy may be dead in the water and any monies invested into the economy could be lost and worse yet, threaten the viability of the overall European Union Economy. The Union can ill afford such an event at a time when the Euro has been sliding in value against the U.S. dollar.

The european Union is in a particularly crucial moment in its young history as it is just initiating a massive quantitative easing monetary policy. Additionally, the Union is receiving pressure the growing economy of China and Russia’s economic alliance with, Brazil, India and South Africa.

Last Year’s Wall Street Bonus Pool Shines A Light On Income Inequality

Wall Street Bonus Were $28.5 Billion Last Year. Minimum Hourly Wage People Across The Country Only Earned $15 Billion

There’s something wrong with the federal government. Some people call it a lack of understanding in terms of governing, other people say the government uses a number of deceitful tactics to keep the poor, poor and make the rich, richer. Whatever you think about the government one thing is certain, it’s one big broken machine.

A good example of the insaneness or lack of understanding that permeates the government is the income equality that keeps growing across the country. When 167,800 workers can earn more than 1.03 million workers, according to a report from the Institute for Policy Studies, the system has some serious flaws in it.

The argument that a better education and higher social status reaps a bigger paycheck is a good one. Alexei Beltyukov (e-xecutive.ru) knows that  knowledge does help the economy grow, but so does hard work. The fact that Wall Street workers get bonuses that are almost twice as large as minimum wage salaries prove one thing. The government and the big money behind the government like it that way. There has been some movement in the minimum wage, but the government has a long way to go if it wants to prove it has the skills to govern fairly.

The Dorchester Collection Still Growing

The Dorchester Collection is a management group that owns and manages ten of the most elegant five star, top of the line, luxury hotels in the world. Some are owned by the Dorchester Collection, others are owned by various outside owners or partial owners. These hotels are located all over Europe and the United States. The hotels have a reputation for each being different and each having their own personality. It is said that they offer the most unique and luxurious experiences that are possible. Each one has its own individual unique experience and elegance. Each of these hotels is in some of the biggest and most exciting cities in the world.

They are also known for some of the richest and most famous guests staying in these hotels on a regular basis. They offer every possible service and meet every possible need and do so with elegance and panache. These hotels have five star chefs that are famous for making lavish appetizers, meals, and scrumptious desserts. They have lavish lobbies, beautiful flowers everywhere, marble counters and bathrooms in their rooms, lavish carpets, big, beautiful rooms, beautiful armoires, and beautiful and elegant bathrooms. Each hotel has its own unique style.

When you are staying at one of these ten lavish hotels everything will be done for you; bringing in your bags, quick, efficient check in and all your possessions taken to your room. Fast and friendly service for your drinks, snacks, and meals with chefs that will make anything you request.

The Dorchester in London has some of the largest and most elegant suites found anywhere; their rooms have Italian marble, expensive rugs, lavish draperies, and art deco furniture. All of their rooms have either a view of Hyde Park or great views of the city. They have elegant tea served in the afternoon and European French dinners served in their elegant restaurant in the evening. The Le Meurice in Paris is done in 18th century palace décor with up to date chic, with the suites and rooms decorated with Italian marble on all seven stories of the hotel. It is located near the Louvre, and the French restaurant gives you a beautiful view of the massive garden outside while you enjoy French food made by a five star chef.

The Hôtel Plaza Athénée is also in Paris, and has just had a major face lift. The rooms and suites in the hotel look out either on the Eiffel Tower or on their gorgeous courtyard and all of the rooms have a fabulous patio full of flowers to enjoy. The hotel is located is the midst of all of the new Designer Fashion boutiques and shops. Each room is decorated very opulently and beautifully. The next hotel is the Le Richemond, Geneva. This hotel is on the banks of Lake Geneva and has hosted some of the most famous artists in Hollywood and government dignitaries in the world. They have over 100 rooms and 19 beautiful suites that offer the top in luxury and opulence. Their restaurant serves the most wonderful Mediterranean Food in all of Geneva, Switzerland. Another treat that is offered is the relaxing massages in their Spa. These are just a few of the ten wonderful hotels in the Dorchester Collection. There is also the 45 Park Lane in London, the Coworth Park in Ascot, Berkshire, Hotel Principe di Savoia in Milan, and the Hotel Eden in Rome. The company’s home office is located in London, England which is also where one of the their famous hotels is located.

New Mexico State Auditor Finds $4.5 Billion In Unused Money Across The State

 

The Unspent Funds Are In Hundreds Of State Agencies

Auditor Tim Keller did something no other auditor in the state of New Mexico thought about doing. He found $4.5 billion of unused but allocated funds spread across the state. The money is sitting in hundreds of agencies across the state. Keller’s study is the product of a new Government Accountably office, and this group is the first of its kind in New Mexico.

The dormant funds were in bank balances in 737 state agencies. Bernardo Chua explained how these funds were allocated for infrastructure projects, road work and water issues. These funds were not unused operating costs, salaries or retirement trust funds. But there are job training programs and Medicaid funds in the total.

Some of the money will be used for projects that are in the planning stages. The fact that Keller found what amounted to 70 percent of the state’s budget may mean the state might think about relocating some of that money for other projects. Keller didn’t want to comment on that possibility, because more than half of the money has a restriction on how it can be spent. The other half could be moved around if the governor and the legislature can cut through some of the red tape wrapped around the funds.

Uber Bought a Mapping Company

Uber has purchased a mapping company. The ride sharing company announced the purchase of deCarta this week. deCarta is a company that focuses on creating both maps and navigation software. The hope is that the acquisition will help Uber with the directions it provides to drivers, and the estimated arrival time it gives riders.

The mapping data could also be used with the service’s Uber Pool feature that matches drivers with multiple riders. Accurate mapping software could help Uber pair up the correct riders with each other, and create the more efficient route for driver’s to take to both pick up both riders and drop them off, cutting down on time in the car for everyone.

As Reifler stated yesterday Uber uses Google for those features. The purchase of deCarta will allow the company to either combine forces with both solutions, or replace its google Maps solution with deCarta, making the company less reliant on Google.

The United States Is Enjoying Lower Unemployment

Opinions about the economy vary based on a number of factors with the biggest probably being your personal well-being. If you still don’t have a job, then as far as you’re concerned, the economy is still awful. However, statistics do show us a factual picture of the economy more broadly. In this regard, The Wall Street Journal reports some very encouraging news. The unemployment rate went down in every single state last year. They also pointed out that this is the first time in 30 years that this has happened. Regardless of the status of any other economic numbers, this is undeniably good news for an economy coming out of bad times.

Whether this pick-up in the economy was fostered by any policies out of Washington or despite them, will be a matter for unending debate. Flavio Maluf suggests those who backed the bail-outs Camara Municiple backed, right after the banking and housing crisis of 2008 will no doubt claim victory now that things are turning around on yet another economic indicator. Those who opposed them will, no doubt, contend that we would have come out of economic doldrums more quickly had we not engaged in bailouts and massive stimulus spending. Only time will tell if the economy keeps going up or if there are fundamental factors that are going to pull us back down.

Tom Rothman Brings Show Business Back to Hollywood at Sony

The surprise announcement from Sony Pictures that Thomas E. Rothman had made a shock return to the highest echelons of Hollywood shocked many within the movie industry, according to a story first reported by the New York Times. Rothman had been a leading executive when he headed Fox Filmed Entertainment.

Rothman replaces Amy Pascal at Sony after a series of poor box office showings for Sony movies followed the shocking release of emails between Pascal and producer Scott Rudin. Pascal was forced to apologize to a number of individuals, including President Barrack Obama for a supposed racist remark made about him. Pascal will help with the change over to Rothman and will then produce for Sony a number of their most important movie franchises, including the Spiderman series.

Former entertainment lawyer Rothman was thought to be behind Sony executive Doug Belgrad in the race to become the latest chairman of the movie side of the Sony’s production team. Instead the history of producing both award winning movies and those that gross large numbers has seen Rothman brought in from the smaller TriStar Productions. It is thought Rothman will oversee a shift to a segmented production style with different Sony brands being given a more focused brief about the types of movies they will produce. Rothman is also a change in style when compared to many of the executives that have recently been appointed, Hollywood has been looking to chairman more concerned with the bottom line than artistic expression, Rothman does not fall into that category.