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Dimon says he could beat Trump in an election, then retreats

JPMorgan CEO on working with President Trump Jamie Dimon said he could beat President Donald Trump in an election. Then he walked it back. “I should not have said it,” the JPMorgan Chase (JPM) CEO said in a statement. “I’m not running for President. Proves I wouldn’t make a good politician. I get frustrated because […]

Analysis: Trump's hurricane tweets show he can always go lower

“3000 people did not die in the two hurricanes that hit Puerto Rico. When I left the Island, AFTER the storm had hit, they had anywhere from 6 to 18 deaths. As time went by it did not go up by much. Then, a long time later, they started to report really large numbers, like […]

Pope meets with leaders of besieged church

“We are grateful to the Holy Father for receiving us in audience,” DiNardo said in a statement after the meeting. “We shared with Pope Francis our situation in the United States — how the Body of Christ is lacerated by the evil of sexual abuse. He listened very deeply from the heart. It was a […]

Catholic bishop in West Virginia resigns amid sexual harassment investigation

Michael Bransfield submitted his resignation as bishop of Wheeling-Charleston Diocese upon turning 75 last week — and 75 is the age at which bishops are required to offer to step down. Francis not only accepted Bransfield’s resignation but also ordered the archbishop of Baltimore to oversee Bransfield’s diocese temporarily and investigate “allegations of sexual harassment […]

'60 Minutes' producer fired after sending CBS reporter 'unacceptable' message

’60 Minutes’ producer Jeff Fager leaving CBS Jeff Fager, the veteran executive producer of “60 Minutes,” was fired on Wednesday amid accusations of inappropriate conduct at the acclaimed newsmagazine. “Jeff Fager is leaving the company effective immediately,” CBS News president David Rhodes said in a memo to staffers on Wednesday. The announcement roiled CBS News […]

2017 was a great year to be rich

Why rising stocks don’t benefit everyone It’s never a bad year to be rich, exactly. But 2017 turned out to be a particularly good one. Rich people are doing so well these days that their spending on luxury goods isn’t even keeping up. Luxury spending rose 5% globally in 2017, the management consulting firm Bain […]

10 years after the financial crisis, have we learned anything?

Reliving the financial meltdown, ten years later When John Taylor starts remembering the years leading up to the financial crisis, his fury wells up all over again. As president of the nonprofit National Community Reinvestment Coalition, he warned Congress about the predatory and fraudulent lending that was fueling a housing bubble as early as 2000. […]

My road back from the Great Recession

Global Financial Crisis: 10 years on Ten years after the start of the Great Recession, the U.S. economy seems red hot. But as we wrote at the beginning of December, the booming stock market and rock-bottom unemployment rate mask enormous lingering distress, with household net worth still a fraction of what it used to be. […]