All Articles Finance Modern Money While You Were Working - March 2

While You Were Working – March 2

Wilbur laughs last, Wells Fargo trims the fat, LCH powers LSE, the beauty of a powerless president, and fun with headlines

2 min read

Modern Money

Wilbur Ross

Maybe Wilbur Ross was just 'playing possum' during all those sleepy meetings? (Daniel Leal-Olivas/AFP/Getty Images)

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.

WYWW Appetizers

  • BlackRock is giving lip service to the gun debate.
  • As far as headlines go, this one couldn’t be more remedial. I mean, duh.
  • Conversely, this is a great headline.