Old Guys Rule
Amid all the furor over the Trump administration’s move to slap tariffs on steel an aluminum, one person taking a victory lap is Commerce Secretary Wilbur Ross. He even took to CNBC this morning and used cans of Campbell’s Soup, Coca-Cola and Budweiser to explain how the tariffs are, in the words of Carl Spackler, “No big deal.”
The funny thing is I am old enough to remember when the news story of the day was how Ross was being frozen out of the administration amid embarrassing rumors that he was falling asleep during meetings and pretty much couldn’t keep his focus much past 11am. I mean, stories from incredibly well-sourced reporters literally had headlines like “The decline and fall of Wilbur Ross.”
Those stories were just 39 days ago.
Wells Fargo trimmed it board fat
It comes as no surprise, but Wells Fargo announced it has let go four members of its board. But then again, when one of those people is the boss of Blackberry, it makes one wonder why he wasn’t let go a decade or so ago.
The power and glamour of a clearing juggernaut
It has been a rough couple of years for the London Stock Exchange Group, but its fortunes appear to be on the rise thanks LCH’s global dominance in clearing.
The power and glamour (or lack thereof) of the presidency
If you think a country where few people can name the president and that president possesses little to no power sounds like some sort of Third World, dysfunctional backwater; think again.