Business

What do Lloyd Blankfein, Jamie Dimon, James Gorman, John Thain, Jimmy Cayne, and any of the revolving door of AIG CEO’s have in common? Three things come to mind rather quickly: 1) All were financial executives during the 2008 global financial crisis. 2) All of their firms received massive public bailouts. 3) None of them went to jail for their firm’s involvement in said crisis. As a matter of fact, most are still plugged in somewhere on Wall Street, presumably helping to facilitate the next great financial crisis.

From Nicholas Colas at Convergex

An unprecedented leak of more than 11 million documents, called the "Panama Project", has revealed the hidden financial dealings of some of the world's wealthiest people, as well as 12 current and former world leaders and 128 more politicians and public officials around the world.

US equity markets rebounded by the greatest amount ever in Q1 to end the quarter with a "keep the dream alive" positive return. This 'central-bank'-sponsored bounce occurred as S&P 500 earnings expectations plunged 9.6% - the biggest quarterly collapse since Q1 2009. As FactSet details,

Back in late 2014 and early 2015, this website soundly mocked any and every economist that suggested that plunging oil prices - in a globalized economy where oil has been financialized beyond recognition and impacts every asset class, the stock market, global trade flows, and international diplomacy - is "unambiguously good."