Jeff Mason is a White House Correspondent for Reuters and the 2016-2017 president of the White House Correspondents’ Association. He was the lead Reuters correspondent for President Barack Obama's 2012 campaign and interviewed the president at the White House in 2015. Jeff has been based in Washington since 2008, when he covered the historic race between Obama, Hillary Clinton and John McCain. Jeff started his career in Frankfurt, Germany, where he covered the airline industry before moving to Brussels, Belgium, where he covered the European Union. He is a Colorado native, proud graduate of Northwestern University and former Fulbright scholar.
Twitter handle: @jeffmason1
The investor wants to help U.S. companies bring back $2 trln of overseas cash in return for a reduced tax that will fund infrastructure. A massive so-called super PAC will back like-minded candidates in 2016 elections. The idea makes sense, but a longer-term fix would be better.
The socialist U.S. candidate would shake up the economy with dramatically more government spending. But promises from free college tuition to a government health system would cost more than $12 trln over a decade – far short of additional revenue, like a Wall Street trading tax.
The White House hopeful has unveiled a slew of ideas for reining in financial excess. Initiatives like imposing risk fees on big banks and improving hedge fund reporting won’t win many friends in the industry. But they’re manageable blows that Wall Street could roll with.
Regional U.S. lender BB&T’s $1.8 bln swoop for National Penn is its fourth deal in a year. The acquisition makes financial sense and is more proof the Fed supports industry tie-ups. The longer other banks stay on the sidelines, the more it’ll look like they fear rejection.
Barney Frank, whose name adorns the law that reshaped Wall Street, has followed former FDIC Chair Sheila Bair through the revolving door to a bank board. Only the crusading U.S. senator joining them would be more surprising. Breakingviews imagines how it might play out.
Borrowing for education has soared over the past decade, ballooning to $1.2 trln and growing far faster than GDP. With serious delinquencies at 11 pct and Washington on the hook, there’s a mess in the making. A Breakingviews calculator shows how big Uncle Sam’s exposure could get.
The Canadian bank is paying $5.4 bln for U.S. lender City National, a 26 pct premium that planned cost cuts don’t justify. The so-called banker to Hollywood stars is growing well. But RBC’s last venture into American retail banking was a mess. It needs to prove it can do better.
(Reuters Breakingviews) - Barack Obama has turned the tables on Elizabeth Warren. The president bypassed the U.S. senator's opposition to Treasury nominee Antonio Weiss with a familiar trick: naming the Lazard banker to a similar post not requiring congressional approval. That's the same ploy that allowed Warren - Weiss' harshest critic - to help steer the Consumer Financial Protection Bureau in 2010. Even with a broken confirmation process, the White House gets the expertise it needs.
CHICAGO/WASHINGTON (Reuters Breakingviews) - Peter Thiel may reckon regulators are just blowing smoke on weed. The PayPal billionaire's Founders Fund is backing the marijuana business, investing in Seattle-based farming firm Privateer Holdings. Though the stake could run up against U.S. anti-drug laws, Thiel - like sharing-economy upstarts Airbnb and Uber - is wagering that the legal haze will clear. His reward could be sky-high returns.
The post-crisis rebound boosted home prices 25 pct even as sales and construction lagged. Increasing household formation, job creation and easing credit look set to give the market another leg up, despite rising interest rates and the headwind of sliding affordability.