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How to Profit From Wall Street's Biggest Gaffe in Decades

I was perusing the newswires a few weeks ago when the following Reuters news story headline all but physically grabbed my attention.

It stated: “Exclusive: Morgan Stanley Rebuilds in Commodities Trading.”

Most folks probably looked at this and tossed it off as just another of the endless machinations of Wall Street.

But I knew better…

  • Featured Story

    Will Jack Lew be the New U.S. Treasury Secretary?

    Treasurechest1

    U.S. President Barack Obama is preparing to nominate Jacob "Jack" Lew as the new U.S. Treasury secretary, according to a number of reports released today (Wednesday.)

    The nomination could be announced as early as Thursday.

    Lew would replace current U.S. Treasury Secretary Timothy Geithner who made it known he would leave the White House by month's end.

    Sources say President Obama had to convince Geithner, the former head of the New York Federal Reserve Bank, to remain in the position for the duration of the president's first term. Geithner was ready to leave after the nasty debt fight during the summer of 2011.

    The appointment comes as the budget battle on Capitol Hill is heating up.

    Lew would immediately have to tackle major debates in Washington, focusing on what to do with the country's $16.4 trillion debt ceiling (reached on Dec. 31) and how to handle the $1.2 trillion in automatic spending cuts.

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