Finance
-
Nonprofit fraud isn’t surging. Enforcement is
Nonprofit fraud is in the news a lot these days. Federal investigators in Minnesota prosecuted one of the largest alleged COVID-19 pandemic fraud schemes, in which several nonprofits and individuals are accused of stealing about $250 million from a federally funded child nutrition program. The defendants were found guilty in 2025, three years after the…
-
From Hobbes to the 14th amendment: the ancient and modern cases against Trump’s $1.8 billion fund
Thomas Hobbes took a very dim view of rebels and insurrectionists. He believed that insurrectionists relinquish their status as citizens the moment they seek to overthrow the government and should never be rewarded for doing so. Hobbes, one of the finest political theorists of his time, said this in his great political treatise, “Leviathan,” published…
-
Inside the ‘stealth wealth’ playbook: How Silicon Valley’s elite buy multimillion-dollar mansions without leaving a paper trail
For the ultrawealthy, it used to largely be the case that they wanted their flashy home purchases and sales to be made very public: Think drone shots, a glossy listing, and a splashy press release naming the owner and buyer. All of that served as a way to show off and solidify their wealth. But…
-
It took over a decade, but NextDecade’s longshot bet to lead Texas LNG is finally paying off
Near the U.S.-Mexico border—just a few miles from SpaceX Starbase—little-known NextDecade is on the verge of becoming the top exporter of natural gas out of Texas. Its massive complex, sprawling 1,000 acres along the Brownsville Ship Channel, took more than a decade to reach this point: surviving industry doubters, the sudden death of its founder,…
-
Trump’s 3,711 trades point to multiple stock-market strategies
President Donald Trump’s latest financial disclosure has drawn scrutiny for its astonishing scale: 3,711 trades, almost entirely in shares of companies across America, including many whose fortunes can turn on federal policy. Collectively, they constitute an unprecedented burst of stock-market activity by a sitting president that has fueled fascination among the day-trading masses and prompted…
-
U.S. debt is the ‘elephant in the room’ amid bond market rout as Fed-fueled interest costs could drive even larger deficits, analysts warn
Recent weeks have seen a major selloff in the bond market as high oil prices spike inflation, but deteriorating U.S. fiscal health is increasingly a dominant factor, according to analysts at Bank of America. In a note on Friday, BofA announced that the so-called bond vigilantes have returned, referring to traders who protest huge deficits…
-
The Fed’s worst inflation fears may be coming true as consumers lose faith in long-term prices—and even Trump supporters doubt he can bring relief
On the same day that Kevin Warsh was sworn in as the new Federal Reserve chairman, the University of Michigan’s consumer sentiment survey delivered a worrisome reading on inflation expectations and a major red flag for the central bank. In addition to the overall index falling for the third straight month to a fresh record…
-
Europe Just admitted the Iran War’s price shock isn’t going away
European Union officials said Friday that Europeans can expect oil and gas prices to remain above what they were before the Iran war for at least until the end of 2027, with prices of other goods also following an upward trajectory. EU Economy Commissioner Valdis Dombrovskis said that higher energy prices are primarily responsible for…
-
FDA’s tobacco center just drafted new rules to let ecigs, pouches onto market, but staffers didn’t write them
Senior officials in the Food and Drug Administration’s tobacco center were blindsided by a recent decision that opens the door to allowing more unauthorized electronic cigarettes and nicotine pouches onto the U.S. market, The Associated Press has learned. The guidelines, posted days before former FDA Commissioner Marty Makary resigned, will allow companies to launch certain…
-
‘I almost fell out of my chair’: Fed stalwart Claudia Sahm fears Kevin Warsh’s policies could undo 20 years of policy progress
Claudia Sahm is one of the Federal Reserve’s most notable alumni: She is the founder of a recession indicator named after her, which has accurately predicted the majority of economic contractions in recent memory. Sahm has concerns about the ultimate direction of the Fed: Warsh’s testimony in front of the Senate Banking Committee left her…