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Sheila Bair is former FDIC chair and senior fellow, Center for Financial Stability. President Biden has finally made a decision about student debt cancellation, going significantly beyond the $10,000 in forgiveness that he embraced as a presidential candidate. Of the 43 million borrowers eligible for his plan, 27 million Pell grant recipients will qualify for $20,000 of relief, with the remainder qualifying for $10,000. Conservative estimates put the cost at about a half trillion dollars. But… Source link

New England Patriots head coach Bill Belichick answered questions about the NFL’s investigation into the Miami Dolphins’ tampering with Tom Brady in true Belichickian fashion: With indifference. When asked twice Wednesday about the NFL’s decision to take two draft picks from the Dolphins – including the team’s 2023 first-rounder – as well as fine and suspend owner Stephen Ross for “impermissible communications” with Brady while he was on the Patriots in 2019 (as well when he was the Tampa… Source link

Recession calls are growing by the day, but the stock market remains wary of fully pricing in this scenario for the economy. Despite enduring the worst start to a year since 1970, the benchmark S&P 500 (^GSPC) is still trading 13% above a widely-cited recessionary target of 3,400, which would mark a ~29% decline from the record high reached on January 3, 2022. In the average recession since World War II, the S&P 500 has dropped 31%. “Investors and business managers alike tend to play the hand… Source link

With the 150th British Open just five days away, Tiger Woods got in a full 18-hole practice round on Sunday at St. Andrews. It’s not something he has previously done ahead of major tournaments since his return to the PGA Tour. Woods played just nine-hole practice rounds in the lead-up to both the Masters and PGA Championship earlier this year because of the physical limitations he is still experiencing in the aftermath of the February 2021 car wreck that nearly cost him his right leg. Those… Source link

NORTH PLAINS, Ore. — Jediah Morgan finished 21 over and 34 shots behind winner Branden Grace at the LIV Golf Invitational Series event this week, and for his efforts he’ll take home $120,000. Welcome to golf’s new era. Grace won by two shots at 13 under at Pumpkin Ridge Golf Club and earned a whopping $4 million, a third of what he made in his entire PGA Tour career ($12,226,197). Dustin Johnson and his 4 Aces GC ran away with the team title by seven shots at 23 under, earning his… Source link

SAN FRANCISCO — It’s easy to paint Steve Kerr as a sentimentalist, the championship coach with the magic touch and a moral compass to boot. But he’s been on the business side of at least one abrupt ending to an incredible run, then found himself decades later trying to complete a mission the Boston Celtics could never reach the finish line on. In 1992, the Cleveland Cavaliers and Celtics engaged in a seven-game slugfest for the right to play the defending champion Chicago Bulls in the… Source link

Way back in 1977, the final year in which NFL teams played a 14-game schedule, seven different running backs handled at least 300 touches. Lydell Mitchell of the Baltimore Colts led the league with 372, averaging 26.6 per game. In 2021, the first year in which teams played a 17-game regular season, only four running backs reached 300 touches, led by Najee Harris at 381 (22.4 per week). During the intervening years, we collectively witnessed — and eventually developed fantasy strategies in… Source link

Warren Buffett’s portfolio is full of buyback opportunities which he calls ‘the best use of cash’. Here are 3 companies with the biggest hidden dividend potential The fact that the world’s most famous investor, Warren Buffett, appreciates shareholder rewards shouldn’t be surprising. After all, a sizable and predictable return is the whole point of investing. Buffett takes this philosophy seriously and seeks out companies with the most generous shareholder rewards program. All five of his… Source link

Russian President Vladimir Putin.Pool Sputnik, AP Andrei Illarionov, Putin’s former chief economic adviser, was interviewed by the BBC. He said Putin would likely halt the Ukraine war if the West stopped buying Russian oil and gas. Many Western nations remain heavily reliant on Russian energy exports. Vladimir Putin’s former chief economic adviser has suggested that Russia would halt military operations in Ukraine “within a month or two” if Western countries stopped buying Russian oil and gas. In… Source link

(Bloomberg) — Whatever hardships are afflicting global stock investors, it’s worse in other markets, and that alone may be enough to keep the equity rebound going for now. Most Read from Bloomberg Stocks recovered in record time from the initial shock of the war in Ukraine and the havoc it’s wreaked on global commodity supplies. That followed their resistance to successive waves of the coronavirus pandemic since 2020. Now, they’re refusing to be undone by ominous portents in bond… Source link