The chart below illustrates the complete history of the Federal Reserve’s quantitative easing program, along with Goldman Sachs’ forecast for how “QE3” will be wound down.
Source: Business Insider
Some of the largest natural resource exporters with floating exchange rates have seen their currencies come under significant pressure over the past year. The currency selloff was triggered, in part, by a decline in demand for natural resources and news of slower economic expansion in China.
Source: Credit Writedowns
New York Attorney General Eric Schneiderman is expanding an existing criminal bureau to focus more on financial wrongdoing. Gary Fishman, 44, a former state prosecutor in the Manhattan District Attorney’s Office, will serve as chief of the Criminal Enforcement and Financial Crimes Bureau, an expansion of the Criminal Prosecutions Bureau.
Here are more details regarding the new bureau from USA Today:
The attorney general’s new bureau will focus on fighting complex financial crimes in banks and financial institutions, as well as securities and investment fraud, money laundering, mortgage fraud, investment schemes and insurance fraud. It will probe “illicit financial activities” and track the flow of suspicious funds to identify trends and help investigators, according to the statement.
Schneiderman’s office has the power to initiate criminal investigations and prosecutions on its own or at the request of the government or state agencies such as the Department of Financial Services, according to its website.
Source: USA Today
It is hardly disputed that most people want to keep as much of their income as they can. Based on that premise, here is a list of states where one can legally avoid paying state income/wage taxes. Good luck if you decide to move!
- Alaska (no sales tax either)
- South Dakota
- Wyoming (no corporate income tax either)
- New Hampshire (does not tax wage income but does tax residents’ dividend and interest income)
- Tennessee (does not tax wage income but does tax residents’ dividend and interest income)