-- A big theme in finance over the past two decades has been a shift in power away from investment banks that traditionally dominated the industry to the asset management firms that orbit it. By picking Scott Bessent as Treasury secretary, Donald Trump has chosen a Wall Street type who hasn’t held a senior position at a Wall Street firm. …
The U.S. could run out of cash to pay its bills between July and September Enlarge this image toggle caption Anna Moneymaker/Getty Images Anna Moneymaker/Getty Images The U.S. government will run out of cash to pay its bills sometime between July and September unless Congress raises the nation's $31.4 trillion debt ceiling, the nonpartisan Congressional Budget Office projected Wednesday. The …
