Cassidy’s Libertarian Victory Committee raised only $200 — all from Cassidy’s own pocket — before throwing in the towel earlier this month, but the pro-Johnson Libertarian Action Super PAC has raised $107,500 as of the end of June. The bulk of that money — $100,000 — came from wealthy entrepreneur Joe Liemandt, the Stanford University dropout who founded and runs the software company Trilogy. … [Read more...] about Third-Party Candidates may Hurt Romney in Key States: Super PACs Increase Potential Impact
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— Ackman faces exodus. WSJ's David Benoit: "William Ackman, the famed shareholder activist, is losing investors at a rapid pace and facing a future that would no longer include managing a private hedge fund. After three years of subpar performance, most investors in his Pershing Square Capital Management LP have asked for their money back, with about two-thirds of the cash that could be withdrawn at the end of the year being pulled... Longtime backer Blackstone Group LP has been taking cash out, and JPMorgan Chase & Co.’s asset-management group told clients it could no longer recommend the fund... While a sharp reversal in performance could stem the tide, the fund declined again in the first quarter, trimming its total assets 12% to $8.2 billion... Mr. Ackman is paring staff, stepping back personally from investor relations and isn’t seeking to replace departing money." … [Read more...] about The Finance 202: Trump tariffs aren’t going to impede economic growth (yet)
Tax cuts will deepen trade deficit. WSJ's Greg Ip: "Among... Trump’s most deeply held economic convictions is that trade deficits are bad, yet his signature economic policy—a major tax cut—likely will deepen the trade deficits he abhors for years to come. For now, that’s more a problem of optics than economics, albeit one that may prompt Mr. Trump to dial up trade tensions with other countries. But in the long run wider trade deficits will make Americans poorer. That’s not because foreigners are stealing American jobs, as Mr. Trump often contends. Rather, it’s because Americans will increasingly borrow from foreigners to sustain their standard of living. Paying them back will wipe out a sizable chunk of the tax cut’s benefit." … [Read more...] about The Finance 202: Fed report shows business execs worry about Trump’s trade moves
“Let’s rebuild the wall of separation between corporate treasury wealth and American political elections,” said Raskin, who as a lawmaker has supported efforts in Maryland to pass a constitutional amendment and introduced legislation to create public financing. … [Read more...] about After ‘Citizens United,’ is Constitutional Amendment Needed?
There has been scandal within the administration, like at the Environmental Protection Agency with its former head Scott Pruitt, as well as with Zinke. Mattis' resignation was a stinging rebuke to the president. The secretary of defense was the first Cabinet official to bow out with sharp criticisms of the commander in chief since perhaps Cyrus Vance as Jimmy Carter's secretary of state, NPR's Tom Bowman has noted. … [Read more...] about The Top 10 Most Important Political Stories Of 2018, As Chosen By Readers