“thankyou thankyou thankyou thankyou thankyou thankyou thankyou thankyou thankyou thankyou thankyou thankyou thankyou…”
600 of them in an email from a Credit Suisse lawyer to the US Department of Labor for the latter’s decision to allow CS to avoid notifying its pension clients that the bank had plead guilty to conspiring to help US investors avoid income taxes and was levied with a record $2.6B fine.
As a result, the bank was able to remain in the US pension business.
42% of the US workforce is the startling answer according to this chart from Fortune.
Exiting a long period of zero interest rates is tricky and a bit unsettling, Some of us feel like the informed citizens of Pompeii around 79 AD: we are grateful for the lovely sea views but worry about the volcano in the background.
Ewen Watt, Chief Global Strategist at Blackrock
Annual percentage change in US healthcare costs.
Whether you love or hate Obamacare, it does seem to be a factor in the decline in national healthcare, costs which have been long recognized as the major threat to US solvency.
With slowly growing prices, even rising demand for healthcare has led to less-than-projected spending, in just about every category. (To be clear: This doesn’t mean healthcare is getting cheaper; it means healthcare is getting more expensive slower than we anticipated.) The government is casually saving hundreds of billions of dollars in Medicare thanks to both direct cuts and other reforms. Insurance companies, despite a rough year due to the arrival of some expensive new drugs, have been spending less than the actuaries projected in 2010. Even with growth in high-deductible plans, out-of-pocket spending is actually coming in below projections from five years ago.
Forecasts of medical spending have undergone round after round of major surgery. Six years ago, the Urban Institute projected that the country would spend $23 trillion between 2014 and 2019. After Obamacare became law, it raised its forecast by half-a-trillion dollars. But the latest projections, published this month, are lighter by $2 trillion and $2.5 trillion, respectively.
From The Atlantic