Driving the Day Listen to Playbook in 90 Seconds http://bit.ly/2nvrOMZ ... Subscribe on iTunes http://apple.co/2eX6Eay ... Visit the online home of Playbook http://politi.co/2f51Jnf Good Monday morning from South by Southwest in Austin. PRESIDENT DONALD TRUMP will sign an executive order today to reorganize the federal government. The order will require "a through examination of every executive department and agency, to see where money is being wasted, how services can be improved and whether programs are truly serving American citizens," according to a White House aide. Story Continued Below IN THE AFTERNOON, the president will meet with “victims of Obamacare to hear their stories and discuss how Obamacare is failing them,” according to a White House aide. The president is lunching with Transportation Secretary Elaine Chao and eating dinner with National Security Adviser H.R. McMaster and Secretary of State Rex Tillerson, who is heading off to Asia this week. SNOW UPDATE … [Read more...] about TRUMP to meet with ‘victims’ of Obamacare — SNOW slated to begin tonight — HELLO FROM AUSTIN: Join us this morning for PLAYBOOK EXCHANGE at SXSW — SPOTTED: JARED and IVANKA brunching on 14th Street
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Driving the Day Listen to the Playbook Audio Briefing http://bit.ly/2o4WFTU ... Subscribe on iTunes http://apple.co/2eX6Eay ... Visit the online home of Playbook http://politi.co/2f51Jnf BULLETIN -- AP at 4:46 a.m.: “TEHRAN, Iran (AP) - Boeing Co. says it has signed a $3 billion deal with Iran’s Aseman Airlines for 30 737 MAX airplanes.”Story Continued Below Good Tuesday morning. THE NEW REALITY: BIG MONEY AT EVERY TURN -- MAKING AMERICA GREAT, a non-profit group aligned with big GOP donor Rebekah Mercer, is dropping six figures on a digital advertising campaign to both tout the Trump administration’s accomplishments and pressure senators to confirm Neil Gorsuch to the Supreme Court. The ad is running nationally, but will have boosted spending in Michigan, Pennsylvania, Ohio, Florida, Missouri, Montana, Wisconsin, Maine and D.C. -- all markets where Democratic senators face re-election in 2018. This campaign comes a week after a $1 million buy boosting … [Read more...] about TRUMP outside group puts up another six-figure ad buy — PAUL RYAN’s MILLION-DOLLAR day – House Republicans and W.H. discuss way to break health-care logjam — STEVE THOMMA’s new job — B’DAY: Jo Becker
Driving the Day Good Tuesday morning. CONFUSION AT 1600? Here is what the White House has asked the Hill to do immediately: 1) Pass a repeal of Obamacare before August recess. 2) Lift the debt ceiling before August recess. 3) Agree on the outlines of a broad-based overhaul of the nation’s tax code before the August recess. 4) Clear outstanding executive and judicial branch nominations. UHH, GUYS ... There are 13 legislative days scheduled until the August recess. Obamacare repeal is in a tough spot. Congress is extremely unlikely to lift the debt ceiling before the August recess. And we can’t see any agreement on the horizon on tax reform. Story Continued Below HILL FOLKS TELL US that the timeline for tax reform has not changed -- the White House wants it done by the end of 2017 -- but you have to wonder why the administration is suddenly changing its tune. HEADS UP -- WHAT TO EXPECT -- Expect a growing chorus of voices to call for Congress to cancel all -- or part -- of … [Read more...] about What 1600 PENN wants Congress to do in next 3 weeks — WHAT TO EXPECT: Hill to remain in session for PART of August recess — LEIBOVICH’s cover story on TRUMP’S WASHINGTON: ‘This Town Melts Down’
While many industries struggled to recover from the recent recession, a few were growing naturally, in large part due to the worldwide belt-tightening. One example? High-end pawn brokers. With banks still hesitant to give loans, people with jewelry, art and even vintage wine, have gone to these brokers for a quick trade of assets for cash. Borro, one of the primary firms in the business, offers personal-asset loans for up to $2 million -- many on the same day or within days. Launched in London in 2008, Borro arrived in the U.S. last year. Recently, we spoke to founder and CEO Pail Aitken about Borro's model -- and why the company dislikes the term "pawn broker." CBS MoneyWatch: Borro has been defined as a high-end pawn broker. Why don't you like this term? Paul Aitken: Technically that's right. But technically a bank that has loans is also a high-end pawn broker. It doesn't totally encapsulate what we do, and our customers don't see us that way. We're online and have offices in big … [Read more...] about Borro’s CEO: We’re much more than “pawn brokers”
Last Updated Jun 18, 2010 1:45 PM EDT Much ink has been spilled heralding the announcements that Schwab, Fidelity and Vanguard were eliminating commissions on exchange-traded funds (ETFs) to one degree or another. And as both I and my Moneywatch colleague Allan Roth have written, that development has the potential to be a good one for investors. But as appealing as commission-free trades might seem to be at first glance, those trades might come with a cost that doesn't show up in any prospectus or on your quarterly statement. When you place a trade for an ETF, that order is routed to and fulfilled by one of several "market centers," which match buyers and sellers of those securities. But not all market centers are alike. When you place an order, the SEC requires that buyers receive the best available ask price, and sellers receive the best available bid price, which is known as the national bid and best offer (NBBO). Orders fulfilled at large, liquid market centers are likely to be … [Read more...] about Do Commission-Free ETF Trades Have a Hidden Cost?