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2nd Circ Won t Revive Market-Rigging Suit Against Big Banks

ADVERTISEMENT 2nd Circ. Won t Revive Market-Rigging Suit Against Big Banks Law360 (July 19, 2021, 8:42 PM EDT) The Second Circuit on Monday affirmed a partial final judgment dismissing antitrust claims lodged by investors who alleged that Citigroup, Barclays, Credit Suisse and others rigged the market for bonds issued by foreign governments, finding that the investors cast a net so wide that their claims are implausible. In its summary order, the panel rejected claims brought by the Alaska Department of Revenue, the Alaska Permanent Fund Corp. and the Iron Workers Pension Plan of Western Pennsylvania accusing the financial institutions of a continuous and ongoing conspiracy to collude with one another in the secondary market for U.S. dollar-dominated SSA bonds..

Generation Z should fear a guaranteed income

Read Article It’s a simple, utopian idea. If we give everyone a monthly check, we can eliminate poverty and do away with the inefficiencies of our cumbersome and flawed welfare state. Minneapolis is the latest city to give a “universal basic income” (UBI) a try. It’s offering $500 a month for 18 months to 150 of its low-income residents with no work or spending restrictions. But others worry it’s not so simple. A universal basic income would be expensive, and what if it discourages people to work, which could inadvertently increase inequality and lead to social instability? A new paper suggests the skeptics may be right: UBI may cause more harm than good for a very high cost.

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