Your daily dose of financial news - The Brief – 8.29.16

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One of the big themes running through the Fed’s Jackson Hole conference that wrapped last weekend: whoa, there.  Just take it easy.  It’s time for legislatures to kick government spending into high gear—not for central bankers to play around with interest rates any more – NYTimes and Bloomberg

Insiders are expecting a “flood of share debuts” around Labor Day to help give a shot in the arm to the otherwise “anemic” 2016 IPO market – WSJ

If you’ve been watching much of any TV these days, you’ve likely seen GE’s efforts to recast itself as a tech start-up as much as it is a manufacturing company.  Here’s the backstory – NYTimes

PwC’s reportedly reached a midtrial settlement over claims brought by the trustee for Taylor Bean accusing the accounting giant of enabling a $5.5 billion fraud at the bankrupt mortgage lender – Law360 and WSJ

How nervous markets anticipating a crash have helped push tech start-ups to streamline – NYTimes

News last week that activist archrivals Carl Icahn and Bill Ackman were in talks over the sale of Icahn’s Herbalife shares raised more than a few eyebrows given the rocky history between the two.  Now there’s even more intrigue, with Icahn denying the offer was made in the first place – NYTimes and WSJ

Yale’s Robert Shiller on the societal (and physical) dangers of extreme economic inequality – NYTimes

Big Data’s serious threat to free will may prove more intense than any religious belief or government surveillance.  The main takeaway: “Once Big Data systems know me better than I know myself, authority will shift from humans to algorithms.”  Yikes – Financial Times

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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