By Douglas Holtz-Eakin
The young drop coverage to avoid higher premiums
The History Channel recently concluded "The Men Who Built America," a mini-series about the former titans of industry -- Rockefeller, Vanderbilt, Carnegie, Morgan and Ford. These men built America from the ground up in the 50 years following the Civil War.
The craggy island specks in the East China Sea aren't even an economic backwater. They have no factories, no highways, no shops, no people – only goats.
The man widely known as "Big" gets even bigger: He's playing J.P. Morgan, one of history's towering business magnates.
Philip McFarland's book "Mark Twain and the Colonel" is a hybrid biography of two of the most colorful figures of their era and a fascinating look at America at the beginning of the 20th century.
Last week, I was on vacation with my family and like any good investor, I kept my eyes and ears open to see what vacationers were doing and spending. Much like walking the malls and counting shopping bags during the year-end holiday season or during the back-to-school season, observing fellow vacationers at amusement parks, waters parks and at the beach can prove insightful. The same goes for how crowded those attractions and restaurants might be. Based on my travels and observations, I have to say that things are not that upbeat out there. This confirms the data that we received during the second quarter of 2012, and thus far in July and we are seeing that reflected in corporate earnings this week.
Americans spend $80 billion each year financing food stamps for the poor, but the country has no idea how the money is spent.
BlackBerry-maker Research in Motion has hired a team of bankers to help it weigh its options as its business erodes in the face of an exodus to the iPhone and Android smartphones.
Struggling BlackBerry-maker Research in Motion warned Tuesday that it will have an operating loss in the current March-June quarter and said there will be significant layoffs this year.
Struggling BlackBerry-maker Research in Motion issued a dire warning about its business, saying Tuesday that it will post an operating loss for the second-straight quarter and will lay off a large number of employees this year.
Investment-services firm J.P. Morgan blew $2 billion on bad trades, and the total damage could rise to $5 billion. Though the Obama administration wants you to think otherwise, this is proof the market works.
J.P. Morgan's announcement of a spectacular trading loss of $2 billion last week gives fuel to regulators who are inclined to slim down or at least stop the growth of such "too-big-to-fail" megabanks in the future, banking analysts say.
The news of J.P. Morgan Chase's recent trading loss has raised the cry of "I told you so" from proponents of the almost 2-year-old Dodd-Frank Act. They say the law's Volcker rule would have prevented such a loss and that without more regulation, financial institutions will continue to make poor investment decisions.
J.P. Morgan's $2 billion loss from betting on corporate bonds will embolden advocates of the Volcker Rule - a provision of the 2010 Dodd-Frank law that will prohibit banks from trading on their own account. Unfortunately for federal regulators, trading in securities is essential to modern banking, and busting up the big Wall Street financial houses may be the only way to better ensure financial stability.
JPMorgan's surprise $2 billion trading loss prompted a sell-off in financial stocks Friday, but the broader market rose as investors decided this was a problem for investment banks and not other industries.
BEIRUT
