Congress Doesn’t Care… If It Gets a Cut
“Merchants of Death” Investing Hi Reader, Here’s what our editors are looking at today… | | | News: Dave Gonigam – Congress Cashes In It is an obvious conflict of interest when a member of Congress owns significant stock investments in a company and then votes to award the same company lucrative federal contracts. At least 50 members of Congress or their households own shares of military contractors — even while those companies receive hundreds of billions of dollars annually from congressionally crafted Pentagon appropriations legislation. How times change: In the mid-1930s, Congress held angry hearings into the companies that were labeled “merchants of death” — the arms-makers and banks that maneuvered to bring the United States into World War I. Nowadays, congress members are just fine with such activity — as long as they get their cut of the action. ⇒ Read More Here | |
Markets: Adam Sharp – SEC Slip-Up Hints at Fresh Financial Fears Oops. Last week the SEC accidentally published internal commentary along with a speech by Chair Gary Gensler. Here’s one of the comments which was mistakenly included. “I strongly recommend that a sentence be placed here (or somewhere [sic] in the first part of the speech) to reassure markets that you are not making the speech because you think there is an imminent crisis.” These internal comms were quickly deleted from SEC.gov, but not before the page was archived for posterity. The slip-up reveals anxiety among regulators over messaging. And it sure feels like something is brewing… ⇒ Read More Here | |
America: Byron King – Electricity, Investments, and Your Quality of Life Generally, and it depends on where you live, the backbone of your regional and local power grid might date back to the 1930s, 40s, and 50s. Yes, it’s that old; in many cases, it’s from your grandparents’ era. On top of the legacy issue for much of the U.S. power complex, over the past half-century, much of the U.S. electric buildout has been piecemeal and patchwork. Still, the lights work, right? But even on the best days, the U.S. electricity complex requires constant care and maintenance because things are always breaking… which gives us plenty of places to invest in the growing build of the U.S. electric grid. ⇒ Read More Here That’s all for today, we’ll be back tomorrow with more topics and articles from our editors. Email us here with whatever crosses your mind that you want us to cover. We look forward to hearing from you! Looking forward to your financial future, | | | | | |
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