You can skip the background info by going directly to about the 2 minute mark to see what it looks like inside a watch containing 2,800 components.
More tarnish on the Deutsche Bank shine (i.e., rate rigging scandals, record fines, etc.) comes in the form of what was first reported as a “fat finger” mistake by a rookie trader, but later revised to a misunderstanding about “gross vs. net” according to Bloomberg.
Either way, it’s not going to be a fun day for the responsible individual when he goes in for his next performance review, that is, if he survives at Deutshe Bank between now and then.
In a speech at the University of Massachesetts last night, Federal Reserve Chair Janet Yellen said that the prospects for the U.S. economy “generally remain solid” and that the central bank is “on track” to raise interest rates in the months ahead.
Then dehydration is said to have caught up with her and she cut her speech short:
She received medical attention then resumed her schedule as the stock market ripped higher, traders concluding that she was just fake vomiting, something that Stephen Colbert popularized on his Comedy Central show and brought to CBS with Emily Blunt the other day.
Hedge fund manager turned pharmaceutical company wunderkind Martin Shkreli made a grand entrance onto the national stage yesterday by defending his company’s decision to raise the price of an AIDs related drug from $13.50 per pill to $750.
His actions prompted a tweet from Hillary Clinton that sent Biotech stocks plunging (no doubt endearing himself to other Biotech CEOs) while generating headlines like these:
- Martin Shkreli Is Big Pharma’s Biggest A**hole
- Former Hedge Fund Bro Buys Rights to Life-Saving Drug, Sells $1 Pill for $750
Not sure if that old saying “any publicity is good publicity” applies in this case.
Perhaps the IMF, EU, and ECB should try attaching a pair of these to the legs of Greek Prime Minister Alexis Tsipras and Finance Minister Yanis Varoufakis prior to their next meeting.
From this story at the Atlantic which is actually kind of disturbing due to the enjoyment that law enforcement professionals get from this, particularly the test subject.