Sheila Bair, former chair of the FDIC, offers her own perspective on the civil suit by the New York attorney general against JPMorgan. Here is a direct link.
There is no greater deterrent to fraudulent, reckless behavior than individual prosecution and liability. Where culprits are allowed to hide behind their corporations, fines will always be seen as a cost of doing business.
Both presidential candidates have been pressed for details on how to control Federal spending. Social Security is one entitlement that politicians are afraid to touch. But ignoring the issue of solvency for the government’s largest entitlement program won’t solve the growing problem of ballooning costs, as more workers retire and fewer Americans cover their benefits. In this CNBC animation, reporter Steve Leisman explains the overall problem facing Social Security. Here is a direct link.
Nouriel Roubini, the New York University professor who predicted the 2008 financial crisis and Ian Bremmer, president of Eurasia Group, talk about the performance of the U.S. economy and outlook. Here is a direct link.
Cory’s Chart Corner
In both directions. h/t @LanceRoberts
This is really pretty incredible.
US household holdings of equities and mutual funds reached a record 278% of disposable personal income in the second quarter of 2026, up from just 29% in 1982, amplifying the stock market’s influence on consumer spending and economic activity.
