Explainer: What to Know About the Ohio Train Derailment
What started out as a seemingly commonplace train derailment near the border of Ohio and Pennsylvania in early February escalated into a serious threat to more than 4,000 people in the immediate area. Millions of people living in the vicinity of the derailment are also watching this situation closely as chemicals have made their way into the air and waterways.
Liberal politicians in Washington D.C. often complain about the federal tax code being too regressive and thus placing too large a burden on low-income families while allowing "millionaire, billionaire, private jet owners" to get a free pass (one must to be willing to ignore actual statistics to reach this conclusion but lets just take the word of Bernie Sanders at face value for the moment).
Via The Daily Bell
223 years ago today, “The Dreadful Night” occurred in Western Pennsylvania, after an uprising called The Whiskey Rebellion.
The United States was brand new. Soldiers who had fought for independence from Great Britain found themselves on opposite sides of a skirmish. Some were having their rights violated practically before the ink was dry on the Bill of Rights. Other Veterans of the Revolution were doing the oppressing at Alexander Hamilton’s behest.
As equity markets spike to all new highs with each passing day, the number of fiscal crises springing up within local and state governments around the country are reaching somewhat alarming levels, even if they're being completely ignored by investors. As Reuters notes this morning, the state of Pennsylvania may become the latest example government failure when it runs out of cash later tonight leaving some $860 million worth of bills unpaid.
Goldman Sachs FICC-trading income was an unexpectedly ugly blemish on what was already a poor Q2 earnings report. And while the FDIC-backed hedge fund initially blamed the decline on lower trading revenues, lack of volatility and depressed client activity...
... there was more to the story. The Wall Street Journal has uncovered what really happened: A $100 million bet on regional natural-gas prices gone awry after production problems at a local pipeline sent prices soaring, decimating Goldman’s short position.