facebook twitter instagram linkedin google youtube vimeo tumblr yelp rss email podcast phone blog search brokercheck brokercheck Play Pause

Friday's Fast Five: Week of 3.28

Sam Bankman-Fried’s journey from crypto king to convicted conman (CNBC): Two years ago, Sam Bankman-Fried was a 30-year-old multibillionaire living in a $35 million Bahamas penthouse, partying with his pals while running one of the world’s most valuable crypto companies. Today, he’s a 32-year-old inmate at the Metropolitan Detention Center in Brooklyn, waiting for a judge to tell him how long he’ll spend behind bars for masterminding “one of the biggest financial frauds in American history,” in the words of U.S. Attorney Damian Williams.

Visa, Mastercard reach $30 billion settlement over credit card fees (Reuters): Visa and Mastercard reached an estimated $30 billion settlement to limit credit and debit card fees for merchants, with some savings likely to be passed on to consumers through lower prices. The antitrust settlement announced on Tuesday is one of the largest in U.S. history, and if it receives court approval would resolve most claims in nationwide litigation that began in 2005.

How Does Paris Stay Paris? By Pouring Billions Into Public Housing (The New York Times): One quarter of residents in the French capital live in government-owned housing, part of an aggressive plan to keep lower-income Parisians — and their businesses — in the city.

Costco’s Former CFO Talks Membership Fees, Hot Dogs, and Charlie Munger (Barron's): Barron’s recently interviewed Galanti, who will stay on in an advisory role until the end of January 2025. He touched on many topics, including the company’s formula for success, the prospect for an increase in Costco’s $60-a-year basic membership, the outlook for the popular hot dog and soda combination still priced at $1.50, and the influence of longtime Costco director Charlie Munger, who died in November at 99.

States Have Spent $25 Billion to Woo Hollywood. Is It Worth It? (The New York Times): Dozens of states have lured film and TV production with financial incentives. Years after gutting its program during a budget crisis, Michigan wants to rejoin the arms race.