What we’re reading (3/25)
“Cargo Ship Blocking Suez Canal Could Take Weeks To Move” (CNBC). “The massive container ship that ran aground in the Suez Canal, halting traffic in one of the world’s busiest waterways, is still stuck as tug boats continued to try to dislodge the ship on Thursday. A team of expert salvors from Smit Salvage have been called in to assist with the operation.”
“Powell Says Now Is Not The Time To Focus On Reducing Federal Debt” (Wall Street Journal). “Federal Reserve Chairman Jerome Powell said that the federal government can manage its debt at current levels but that fiscal-policy makers should seek to slow its growth once the economy is stronger.”
“Who Are The Biggest Tax Cheats? The 1% — And Here’s How They Get Away With It” (Los Angeles Times). “It’s widely assumed that the biggest tax scofflaws are those with the most money. A new study by a team of IRS analysts and academic economists, however, tells us that things are much worse than anyone suspected.”
“Facebook, Twitter And Google CEOs Testify Before Congress On Misinformation” (CNN Business). “Congress is set to grill the chief executives of Facebook, Google and Twitter about misinformation and online extremism on Thursday, in the executives' first appearance before lawmakers since the Jan. 6 Capitol riots and the rollout of the coronavirus vaccine.”
“U.S. Regulator Opens Inquiry Into Wall Street's Blank Check IPO Frenzy - Sources (Reuters). “The U.S. securities regulator has opened an inquiry into Wall Street’s blank check acquisition frenzy and is seeking information on how underwriters are managing the risks involved, said four people with direct knowledge of the matter.”
