Benefits

Convicted Killer Scott Peterson Among Death Row Inmates Who Scammed Over $400,000 In Fraudulent COVID Benefits

Today in “why the Federal government and the state of California should not be in the business of capital management” news… The infamous Scott Peterson was among other death row inmates who were able to fraudulently receive Covid unemployment benefits administered by California, according to analysis released Tuesday.  Prosecutors in California say they uncovered a…

14 Million People Will Lose Their Unemployment Benefits, 30 Million At Risk Of Eviction On January 1

By Tyler Durden While markets remain on edge over the sudden tension between the Treasury and the Fed, following Mnuchin’s surprise notice to Powell that the Treasury would let 8 of the key 13(3) “emergency” programs currently in place (including the critical for the bond market Corporate Credit facilities, PMCCF and SMCCF) at the Fed…

Over 20 Million Americans Remain On Jobless Benefits

By Tyler Durden 709,000 Americans filed for first-time unemployment benefits last week, better than the expected 731k and and a big drop from the prior week’s revised 757k print. Source: Bloomberg Washington state and California saw the biggest jumps in jobless claims. Georgia and Texas saw the biggest improvements. The good news for the headline-creators…

JPMorgan Finds No Benefits From COVID Lockdowns

While the latest vaccine progress news out of Pfizer was welcome by the market (and its CEO who sold over 60% of his PFE stock on the day of the announcement) in a week where global infection resurgence continued with cases jumping 8% W/W last week (537k vs. 309k in Aug-Oct) and EU/ UK re-imposed…