My afternoon train reading:

• Weak Job Markets, Washington Rancor Mean No Taper in 2014 (MoneyBeat)
• Lifestyle ETFs and investment products based on belief systems (Reformed Broker)
• Bankruptcy industry getting a taste of its own medicine (Crains New York)
• Welcome To The Unicorn Club: Learning From Billion-Dollar Startups (TechCrunch)
• Shopping for a fund? Here’s how to find out what the fund prospectus won’t tell you. (WSJ) see also Some hedge funds are converting to mutual funds. Here’s why. (WSJ)
• Food stamps will get cut by $5 billion this week — and more cuts could follow (Washington Post) see also What it means to be “rich” in America (The Money Illusion)
• U.S. Set for Smallest Deficit in 5 Years (Real Time Economics)
• MIT Wristband Could Make AC Obsolete (Wired)
• Meet The Guy Who Drove Across The U.S. In A Record 28 Hours 50 Minutes (Jalopnik)
• ‘Smarter Than You Think,’ by Clive Thompson (NY Times)

What are you reading?

 

Breaking Down Big Banks’ Bargaining
MI-BZ458_SETTLE_G_20131103193610

Source: WSJ

Category: Financial Press

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5 Responses to “10 Monday PM Reads”

  1. rd says:

    Ray Lewis and a number of athletes are suing BBT bank for allegedly allowing their financial advisor to forge their signatures on documents and lllegally transferring money into failing business ventures:

    http://sports.yahoo.com/news/nfl–nfl-players-suing-bank-for-nearly–60m-over-alleged-investment-losses-193748891.html

  2. hue says:

    It’s the End of Net Neutrality — And the Internet — As We Know It (Wired)

    An Article Has A Lifespan Of 37 Days, And Other Findings From Pocket (Fast Company) Is that a story in your “Pocket,” or are you just happy to read me?

    Whoa. Conclusive Proof That Obambi Lied (Borowitz Report)

  3. Bob A says:

    Having received the letter from one of the companies mentioned in the article I can confirm what they’re saying. And contrary to all the seeming horror stories from people who were most likely opposed to ACA from the git-go my new policy will give me vastly better benefits for much less that a similar policy with the same provider would have cost before. Not to mention it can’t be cancelled, I have the ability to move to another city or state and not have to worry about being denied coverage for a pre-existing condition. I’ll have prescription coverage which I haven’t had on a similar priced policy for more than 10 years. How many people were aware that a large percentage of cancer therapies aren’t covered without prescription coverage? And in most cases people are discounting or pretending to have forgotten that their old policies were going up 10-20% per year anyway before the ACA came along.

    http://talkingpointsmemo.com/dc/insurance-companies-misleading-letters-obamacare

  4. rd says:

    Re: Bankruptcy industry

    I was chatting with an attorney who does construction litigation a few days ago. We were chatting about the changes in our respective businesses. He said that his legal business has completely changed over the past decade or so. They used to have armies of junior lawyers who would spend weeks sifting through paper files. Now, an experienced attorney can do keyword searches on scanned files to generate the same information in hours that a junior attorney would have done in days and weeks a few years ago. So their need for junior attornies and all of their billable hours has dropped significantly. The clients are also requesting much more controlled billings as well. I would imagine the bankruptcy industry isn’t much different.

  5. RW says:

    Sequester Watch, #29

    Sequestration continues to whack budgets, programs, and communities across the land. The longer these cuts persist, the more they become the “new normal,” i.e., an accepted and expected component of future budgets/CRs. It’s good to hear that the White House recognizes this danger and would like to see sequestration replaced. But that will take compromise, and that’s something you see very little of these days.