Your Daily Dose of Financial News

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Incoming Goldman CEO David Solomon has chosen his top deputies, settling on investment banking vets John Waldron (49) and Stephen Scherr (54) as his president/COO and CFO, respectively, and signaling the firm’s shift away from trading – NYTimes and WSJ and Bloomberg

The Fed is all but sure to raise short-term interest rates later this month, as it has been forecasting for months now. The real difficulty the central bank faces is agreeing on “how to frame the path of rate increases next year” – WSJ

Yesterday, we looked at the lost decade for the middle class in America.  Today, we join Breakingviews in shifting focus to AIG—the insurer that was one of the primary companies in the eye of the financial crisis hurricane—that’s repaid all of its bailout loans and shed its SIFI label yet still faces wary investors – NYTimes

And while we’re talking crisis, we should check in with former Fed chair Ben Bernanke, who released a 90-page paper on the 2008 financial crisis yesterday, complete with his thoughts on the two most critical errors policy makers made in trying to right the ship – Bloomberg

Why not get the Oracle’s take, too? – MarketWatch

The NLRB has released a draft rule that would “roll back the Obama board’s controversial Browning-Ferris Industries decision, which loosened the board’s test for determining whether affiliated businesses are joint employers,” finding joint employment only if a company “possesses and exercises substantial, direct and immediate control” over workers – Law360

Deutsche Bank has named Stephan Wilken as its new global head of anti-financial crime and AML chief. He’s replacing Philippe Vollot, who’s decamping for Danske Bank as it reels from a “raft of investigations” into Russian money laundering through its banks – WSJ

The SEC’s foray into crypto enforcement this week against a hedge fund and a pair of broker-dealers shows that agency is extending its reach in the virtual currency sphere past ICOs to “any person or entity that eventually touches these types of securities” – Law360

This Journal feature on the heirs of John T. Dorrance—the inventor of Campbell’s condensed soup—and the role that they (and their 45% stake on the company’s stock) will plan as activist investor Daniel Loeb attempts to remake the company’s board – WSJ

Here’s an interesting challenge for a company focused so much on search: finding its co-founder and de facto leader [that would be Larry Page] – Bloomberg

I’m trying hard to look past the mistake here of lumping key St. Paul locations into what’s now apparently just a massive “Minneapolis” metro area, but still, this is a pretty solid look at the Ju[i]cy Lucy scene here in the Twin Cities to put you in the right mood for a Friday night – BonAppetit

Enjoy your weekend,
MDR

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