Markets climb in stride with pessimism
Plus: Janet Yellen's dovish optimism, Ernst & Young's $4 million lobbying settlement, how Citigroup agreed on that $7 billion figure, and QE has had almost no impact on unemployment
- When stocks and pessimism rise as one it is time to start applying the dreaded ‘bubble’ word. Bizarro market
- Get used to an extremely accommodative Fed policy from a chairwoman who believes ‘we can help to make the world a better place.’ The economy is still facing headwinds
- Ernst & Young settles lobbying suit for a cool $4 million. ‘We regret these instances that arose many years ago’
- The dirty details on how Citigroup’s big settlement landed at $7 billion. A brisk email exchange and bad negotiating skills. The government wanted $12 billion, plus ‘consumer relief’
- Turns out the Fed’s quantitative easing experiment had almost no impact on unemployment. But thanks for creating $5 trillion worth of new money. QE experiment trims unemployment by a scant 0.13%
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