Calvin Woodward, Hope Yen and Seth Borenstein Associated Press Published 2:24 PM EDT Sep 9, 2019 Washington – Science took a beating in the political arena as President Donald Trump sowed confusion about Hurricane Dorian’s path and Democratic presidential candidates rang false alarms about the air we breathe and a looming point of no return on the climate. In a head-spinning week, Trump found himself contradicted by his government’s own meteorologists when he warned of danger to Alabama, then spent days defending his outlier forecast. Days later, curiosity over who had drawn a loop on a weather map played out alongside life-shaping questions about who should, and shouldn’t, flee the storm. On broader questions about climate, and air quality in particular, neither Trump nor some Democrats seem to be able to get it right. A look at recent claims from Trump and the Democratic campaign, also covering the Green New Deal, war, the economy and more: Stormy … [Read more...] about Fact check: Trump, Democrats fudge science on climate, storms
High yield investor checking
Susan Tompor Detroit Free Press Published 7:00 AM EDT May 2, 2019 One of the more brazen billion-dollar financial frauds in history, complete with celebrity names and fancy cars, quietly snaked its way into hundreds of retirement nest eggs across Michigan. Often, the sales pitch started innocently enough after a retirement seminar and a free meal at a pleasant restaurant, maybe Andiamo or Maggiano's Little Italy. Nearly two dozen insurance agents and other sellers hooked about 230 Michigan retirees and investors with what seemed like a low-risk, short-term investment in mortgage-related notes connected to the Woodbridge Group, according to a Detroit Free Press analysis. The Michigan investors handed over more than $14 million, according to state regulators. Many never saw that money again. Unlike the Bernie Madoff scandal that unfolded 10 years ago, Woodbridge, based in Sherman Oaks, California, never became a household … [Read more...] about Woodbridge Ponzi scheme snags $14M from Michigan investors
By Howard Schneider and Trevor Hunnicutt WASHINGTON/NEW YORK (Reuters) - Risk-taking has been the rage since the Federal Reserve quit hiking interest rates at the end of last year. U.S. stocks are back near record highs and investors are stockpiling the lowest-grade corporate bonds with only a smidgen of extra compensation for the added risk. That rebounding mood on Wall Street may be welcomed by a president that has been demanding the Fed cut rates after markets fell sharply last year, and complaining that even pausing at the current level is the wrong call. But if anything the 'pause party' on Wall Street makes it even less likely that the U.S. central bank will cut rates. Recent positive news on retail sales and exports, which have eased concerns of a sharply slowing economy, makes the case for a rate cut even weaker. Investors at least have gotten the message, and shifted from projecting a rate cut later this year to now putting the odds at only 50-50 that the Fed will move lower … [Read more...] about Financial market ‘pause party’ makes Fed rate cut less likely
One of the good things about getting older is that you find a myriad of deals and discounts aimed toward seniors and often people several years younger than the typical retirement age. Even your bank might have something for you.Some banks offer special “senior checking” accounts that can come with attractive perks. But these accounts also can have drawbacks that should make you think twice. Here’s how to decide if a senior checking account is worth it for you.What is a senior checking account?Checking accounts for seniors are similar to regular checking accounts, though typically it’s easier to avoid annoying fees. You might qualify for senior checking as early as age 50 or 55. The accounts can offer a multitude of benefits, including:Waived account maintenance feesInterest on your depositsNo overdraft feesFree checksDiscounted or free safe deposit boxesFree personalized financial adviceDiscounts on movie ticketsThese perks might be very appealing to you, … [Read more...] about Should you get a senior checking account?
By Takahiko Wada TOKYO (Reuters) - Japanese banks have stepped up investments in highly illiquid, securitised loans, mostly in the U.S. market, as it becomes increasingly difficult to earn decent interest income from conventional products like government bonds. A Reuters survey showed some of Japan's biggest banks, led by Norinchukin Bank, have nearly doubled their investment in collateralised loan obligations (CLOs) in the nine months to December. While the increased exposure brings back memories of similar, complex products made up of subprime mortgages that triggered a global financial crisis a decade ago, banks say they are managing risks carefully. Moreover, analysts expect institutions to continue buying such assets as Japanese investors seek returns amid a zero interest rate environment at home and a shrinking pool of stable, high yield income abroad. "We are controlling risks and returns from our major asset classes -- bonds, stocks and credit products -- by looking at their … [Read more...] about In hunt for yield, Japan’s banks snap up leveraged U.S. debt