Walter Keane's paintings of waifs with big tearful eyes were frowned on by art critics, but their huge popular success made him a fortune. Years later, the truth emerged: the works were actually not created by Walter, but by his wife Margaret - who painted them in secret while her husband took the credit.
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You might then think of each reserve bank as a corporation that pays a high tax rate. For instance, in 2013, all of the reserve banks combined earned current income of more than $91 billion, $50 billion of which came from the New York Fed alone. From that, the reserve banks paid almost $80 billion in interest on Federal Reserve notes back to the U.S. Treasury, $46 billion of which came from the New York Fed alone. That’s quite a corporate tax rate.
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Rather than consider the reasons why he might make a good president or engage in an in-depth analysis of the eight years he spent as chief executive of what has just recently become the nation’s third most populous state, the search is on to find things that might disqualify him for the job.
"I suspect it was the GDP numbers that had a bigger impacton the market," said Simon Derrick, head of currency research atBank of New York Mellon in London. "GDP is just kind of an earlymarker for the problems the pound may face next year."
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Last Friday the FBI formally accused Pyongyang of taking a central role in the attack based on the virus’ coding and the use of a global network of computers, both of which were employed in attacks against South Korea in the last two years. The FBI claims to have previously tied North Korea to those attacks, and in conjunction with other information the bureau declined to elaborate on due to the ongoing investigation, declared Pyongyang “responsible” for the hack.