There is some new fallout from the nations largest bank who’s already had its stellar credit rating lowered after JP Morgan Chase, reportedly now under federal investigation, admits it has lost $2 Billion from bad trades in just the past six weeks. Critics are saying that its proof that big banks still do not understand the risks their...
Friday started off as a down day and the reason for that was the announcement by JP Morgan Chase that they are going to loose $2 billion dollars maybe more because of bad trades out of their London office. Jamie Dimon, Chairman and CEO of JP Morgan Chase, stepped up and took responsibility stating that the bank made a mistake. As a result the...
President Obama says that reviving American manufacturing is the key to our economic recovery, there are those in Congress that are saying no to a plan by the administration that would eliminate the “buy american” policy in federal contracts. A group of 69 lawmakers sent the President a letter urging him to reconsider the move. Ed...
Many investors look at the current economic conditions and wonder if this may be an opportunity to stay on the sidelines when it comes time to invest in the stock market. Ed Butowsky, wealth manager, financial advisor, and managing partner of Chapwood Investment Management, joins Fox Business’ Varney & Company to examine the question...
Do we need more proof that bailouts are raw deal? While Chrysler participated in the bailouts they are sitting on a lot of money now having posted strong gains this past quarter. Now as Chrysler financially is on the rise the company is looking to reimburse labor unions, but what about the tax payers – when do we get that money? ...
Most of Hollywood is in President Obama’s camp, but not former Saturday Night Live star Jon Lovitz. In a recent media recording he rants about his tax burden with Hollywood director Kevin Smith.
Jon Lovitz: If I make a dollar, and out of every dollar, I’m taxed 50, half of 50 cents, I have to give ins’t that like enough?
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Have you checked your returns on your IRA or 401k statements? You could be disappointed these days. While many may be scratching their heads trying to figure out what the problem is, many are turning to self directed IRAs hoping to find alternative ways to earn a little bit more, make up for the losses they have seen, or maybe to just...
President Obama is targeting oil speculators, but are they the problem. Moreover, President Obama is saying that he is going to make it more expensive to speculate in the oil market. While this action may take some speculators out of the oil market, will it help reduce the price of oil and ultimately gas at the pump for consumers? Ed...
This weekend was tax filing time for millions of Americans and if you think your tax hit is bad now wait until a year from now when those Bush Tax cuts could all be gone. The payroll tax cuts will most certainly be gone, and a whole new taxes will be on. Including a big tax that no one has been talking about when you sell your house to pay for...
Could the changing nature of the workforce be holding back the economic recovery? The latest employment report shows the US economy adding about 120,000 jobs in the month of March. Some analysts are suggesting that this may be an indication of a slow down in the economy. Furthermore, two researchers from Harvard blame the the weak employment...
