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Episodes

Bet on It: Sports World Gears Up for Gambling

5/18/2018
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Sports bettors have a lot to celebrate this week. On Monday, the Supreme Court struck down a 1992 federal law that had banned betting on sports in most states. In effect, the decision paved the way for any state to legalize gambling on sports. The ruling comes from a years-long court battle led by the state of New Jersey, which is expected to be among the first states to implement legal gambling. Tax-collectors, leagues, owners and fans are seeing a lot of dollar signs. But who will...

Duration:00:07:50

The 'King of Debt' Bought in All Cash. Why?

5/11/2018
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For years, Donald Trump has boasted that he's the "king of debt" and routinely uses financing to make lots of money. "Nobody knows debt better than me. I've made a fortune by using debt," he said on CBS This Morning in 2016. "There’s nothing like doing things with other people's money," he said during a 2016 campaign rally. But new evidence suggests Trump abandoned his own playbook for debt-backed business deals a long time ago. The Washington Post reports that in the nine years before...

Duration:00:07:38

Buyer Beware: Life After the Fiduciary Rule

5/4/2018
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Back in 2015, President Barack Obama proposed new regulations with a straightforward-sounding aim: Protect everyday investors by ensuring financial professionals serve in the best interests of their clients — "above their own financial interests," he said at the time. Right away, the new measure, known as the "Fiduciary Rule," was opposed and criticized by many in the financial industry. It's implementation was challenged and then further delayed after Donald Trump became President. Now,...

Duration:00:07:38

Getting Uber Back on Track

4/27/2018
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Since its founding less than a decade ago, Uber has grown from a taxi-booking start-up in San Francisco to a multi-billion dollar company operating in 73 countries with 18,000 employees. And the fast-growing company has big ambitions, including plans to go public next year. But while it prepares for that milestone, Uber is facing a lot of challenges. The company is fighting regulations, protests and competitors all over the world. It's also trying to recover from a string of scandals,...

Duration:00:07:31

#MeToo and Wall Street’s ‘Black Hole’

4/20/2018
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As women, and men, the world over reckon with a tidal wave of disclosures about sexual harassment in many industries, an investigation has found a troubling history at the organization that oversees workplace misconduct on Wall Street. For decades, the Financial Industry Regulatory Authority — or FINRA — has supervised disputes involving 630,000 brokers who buy and sell securities. That can also include claims of sexual harassment and hostile work environments. An analysis by The...

Duration:00:07:31

Are ‘Rocket Billionaires’ the New NASA?

4/13/2018
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In February, the billionaire Elon Musk took a big step toward his goal of a manned mission to Mars: His aerospace company, SpaceX, launched a rocket into space carrying a huge payload — including his red Tesla Roadster, complete with a spacesuit-wearing dummy named Starman in the driver's seat — and two booster rockets used in the launch successfully flew back to earth and landed to be used again. The launch was considered a huge success, and is the latest in a series of rocket tests and...

Duration:00:07:45

Sinclair Seeks to Expand as ‘False News’ Script Raises Eyebrows

4/6/2018
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It's a bizarre viral video: Dozens of local news anchors in markets all over the country, reading word-for-word from a script decrying "false news" and media bias. The compilation — created by the website Deadspin — comes from stations owned by the Sinclair Broadcast Group, the local news giant known for its conservative management and right-leaning commentary. Sinclair gave the scripts for the promotional television spot to every station in its network, noting they were "must-run"...

Duration:00:07:46

Will It Get Worse For Big Tech?

3/30/2018
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Investors call them the FAANGs — Facebook, Amazon, Apple, Netflix and Google — and in recent years, Wall Street has put a lot of faith in their continued success. But in the last few weeks, tech sector stocks have fallen amid negative headlines: The scandal involving Cambridge Analytica has sent Facebook's stock sharply down. Then, after Axios reported that President Donald Trump asked if there was a way to "go after" Amazon, the online retailer's price fell sharply as well. Tech...

Duration:00:08:06

‘The Low Road’ of America’s Free Market Capitalism

3/23/2018
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From the start, the United States has embraced the free market, founded as economists and philosophers were developing theories about laissez-faire capitalism. Perhaps one the most famous of those thinkers was Adam Smith — considered by some to be the father of modern economics. Smith coined the phrase, the "invisible hand" — the idea that people acting in their own self-interest will benefit the entire society. It's a belief in the power of the market (with limited to no government...

Duration:00:08:01

Trump DOJ Gears Up to Fight AT&T and Time Warner Merger

3/16/2018
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AT&T, the nation’s second largest wireless company, has been trying to buy the entertainment giant Time Warner for nearly a year and a half. The deal, valued at $85 billion, would create a colossal media and internet company. But in November of last year, the Justice Department under President Trump sued to stop the merger, bringing an antitrust lawsuit that claims the deal would stifle competition. Trump himself has been vocally critical of the merger, saying when he was a candidate that...

Duration:00:07:58

Trade Wars: Return of the Tariffs

3/9/2018
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Amid controversy over new tariffs on aluminum and steel, the president’s chief economic adviser, Gary Cohn announced his resignation from the White House. His departure — the latest in a string of recent, high-profile exits from the Trump administration — leaves many unanswered questions about how the president will handle trade policy going forward. Former president and chief operating officer at Goldman Sachs, Cohn was a veteran of Wall Street who many in the financial world saw as one...

Duration:00:07:39

Spotify to Go Public on Its Own Terms

3/2/2018
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The music streaming company Spotify filed plans on Wednesday to start trading shares on The New York Stock Exchange in the next few weeks. The decision to go public also revealed more information about the company's financial health, including a $1.5 billion loss last year. Ben Sisario, who covers the music industry for The New York Times, thinks Spotify could make money down the line "if they’re able to pay a little bit less for the music that they stream, and they come up with new...

Duration:00:07:53

Should CEOs Weigh in on the Gun Debate?

2/23/2018
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In the aftermath of the deadly Parkland, Florida, school shooting last week, the question is being asked again: What can be done to prevent these attacks from happening? Students have been lobbying lawmakers in Tallahassee and meeting with the president to push for gun control, especially for the assault weapons used in so many recent mass shootings. But is there another route to change in gun laws, not through legislators, but through CEOs and shareholders? In the New York Times and in...

Duration:00:07:53

Reversing Course on Consumer Protection Agency

2/16/2018
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In the wake of the 2008 financial crisis, the Obama administration created the Consumer Financial Protection Bureau, or CFPB, to be the watchdog agency to protect consumers from predatory lenders, aggressive debt collectors and bad actors in the financial industry. Since its creation, the agency has reported that it has returned $11.8 billion to nearly 30 million consumers because of its enforcement activity. But the CFPB now appears to be headed in a very different direction, led by a...

Duration:00:07:25

The Many Questions of ‘Trump Inc.’

2/9/2018
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Before he took office last year, President Trump promised to separate his family business — the Trump Organization — from the White House. But we still know very little about whether or not he, or the rest of his family, are keeping their word. Investigative editors and reporters from ProPublica and WNYC are trying to answer that question and many others about the president’s family business in a new podcast, Trump Inc. In the first episode, reporters examined how Trump said he would...

Duration:00:25:44

‘Hedge Fund King’ Steven Cohen Gets Back to Business

2/2/2018
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Before he was known for an insider trading scandal, Steven Cohen was known as the “hedge fund king,” bringing sky-high returns to clients at his super successful firm, SAC Capital Advisors — and serving as an inspiration for the Showtime series “Billions.” Now, Cohen is looking to get back into business after a two-year ban on trading other people’s money ended at the start of this year. With his new company, Point72 Asset Management, Cohen is once again courting clients and their...

Duration:00:07:44

Trump on Trade: Go Global, or Go it Alone?

1/26/2018
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As President Trump speaks to heads of state and top business leaders at the World Economic Forum, his administration says he’ll focus on “free, fair, open and reciprocal trade,” in the words of Trump’s chief economic advisor Gary Cohn. But at the same time, Trump put tariffs on foreign-made solar panels and washing machines this week and is threatening to pull out of NAFTA as negotiations to revise the nearly 30-year-old trade agreement get underway in Montreal. So, do we really know the...

Duration:00:07:40

New Tax Plan: It's Good To Be a Banker

1/19/2018
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As the new Republican tax bill goes into effect, big banks are reporting billions of dollars in losses thanks to one-time charges stemming from the new rules. But in the long-term, the tax rules give financial firms a lot to celebrate with the corporate tax rate dropping from 35 percent to 21 percent. And some banks expect to pay an effective tax rate as low as 17 percent. It’s a boon expected to push profits higher in 2018, just as Congress is debating rolling back banking regulations...

Duration:00:07:39

Facing a Federal Government Shutdown. Again.

1/12/2018
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In the past fiscal year, Congress has delayed permanently funding the government three times, choosing to pass short-term "continuing resolutions" instead. Now, lawmakers are facing another hard budget deadline: if they don’t pass a funding bill Friday, January 19, the federal government will shut down. But Republicans and Democrats are further apart than ever and a bipartisan solution seems like a tall order, especially as legislators wrangle over immigration. Just funding the...

Duration:00:07:40

What You Should Know About Bitcoin and Other Digital Currencies

1/5/2018
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In the past year, the cryptocurrency Bitcoin has jumped in value by nearly two thousand percent — and then, in the last days of 2017, saw a double digit percentage drop. Other digital currencies are seeing similar value jumps, like Ripple, which rose in price by 25 percent this week and is now the second-most traded cryptocurrency. But how do these volatile digital currencies work, who uses them? Are they investments or a way to pay for goods and services? And if you don't own any...

Duration:00:07:37

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