President Obama Says He Will Not Tolerate Wrongdoing at IRS

    President Barack Obama on Monday vowed to hold accountable employees of the Internal Revenue Service involved with improperly targeting conservative groups that applied for tax-attempt status.    President Obama said during a briefing with reporters that there is no place for personnel of the IRS ...

Tesla Sales Eclipse Majority of Luxury Automobiles

  The Tesla Model S, which is priced at a substantial $70,000, is now the hottest electric car on the market. In fact, in the first quarter of this year, sales of the Tesla Model S outpaced similar gasoline models from the top three German luxury models. Roughly 5,000 consumers purchased the Model S while a shade over 3,000 purchased ...

Sued: California Accuses JP Morgan of Fraud in Credit-Card Debt Collection

  California Attorney General Kamala Harris filed a lawsuit against banking giant JP Morgan on Thursday, alleging that the financial institution engaged in legal and fraudulent debt collection practice against tens of thousands of California residents.  Harris claims that from January of 2008 to April of 2011, JP Morgan ...

Enron Convict to be released from Jail Early

  Former Enron executive Jeffrey Skilling has reached an agreement to reduce his fraud sentence by nearly a decade. Skilling, according to court documents, will remain incarcerated for years, but could potentially shave ten years off the 15 years remaining in his prison sentence.  Former executive Skilling is now known ...

Slashing Costs: U.S. Deficit Plunges by a Whopping 32 Percent

    The United States’ annual deficit has dropped 32 percent over the first seven months of the fiscal year compared with same period last year, according to a report issued by the U.S. Congressional Budget Office. The primary reason why our nation’s deficit dropped so drastically: a significant jump in tax ...

SEC Charges Traders in Enormous Kickback Scheme Involving Venezuelan Official

    The United States Securities and Exchange Commission charged four individual with ties to a New York City brokerage in a scheme involving millions of dollars in illegal bribes paid to a high-ranking Venezuelan official to secure the bond trading business of a state-owned Venezuelan financial institution.  ...

Another Record: Dow Closes Above 15,000

    Today marked another record-setting on Wall Street as the Dow Jones Industrial Average closed above 15,000 for the first time ever. The Dow officially closed at a record mark of 15,056.    In addition to the Dow’s surge, investors also pushed the S&P 500 to a new record as the broad index ...

Game Changer: Staples to Start Selling 3-D Printers

    3-D Printers, the next generation of printers, have officially gone mainstream as consumers can now procure one from Staples for $1,300.    Staples claims it is the first major retailer in the United States to sell a 3-D printer. Staples began selling the Cube, created by 3D systems on the staples ...

White House Report: The Employment Situation in April

    Although more work remains to be done, today’s employment report offers further evidence that the United States’ economy is continuing to strengthen after undergoing  one of the worst recessions since the Great Depression. The White House states that it is crucial to remain focused on pursuing initiatives ...

SEC Charges Two Mutual Funds for Inaccurate Disclosures about Decisions on Behalf of Shareholders

    The United States Securities and Exchange Commission today charged the gatekeepers of two mutual fund trusts with misleading disclosures regarding the factors they deemed when renewing or approving investment advisory contracts.  A decent percentage of trusts are created as turnkey fund operations that launch ...

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