FAI: A bunch of Bank of America customers lost $1.2 million after putting a big chunk of money in Puerto Rico

Archive
2 min read

After much back-and-forth over who would be nominated for the role of Treasury Secretary, Trump has settled on former Goldman Sachs banker Steve Mnuchin . Billionaire financier Wilbur Ross has been named nominee for Commerce Secretary, meanwhile.

Here are the headlines:

In other news, Goldman Sachs is trading at its highest level since the financial crisis. And here is the unofficial Goldman Sachs gift guide for 2016.

Elsewhere on Wall Street, it looks like a key Valeant deal might be falling apart, and now the stock is tanking. Whitney Tilson has a new short. And a new player in Silicon Valley dealmaking is snapping up tech bankers

In commodities news, OPEC has finally agreed to a production cut — and oil is rocketing. Oil stocks are going nuts too. But the OPEC deal might not be a game-changer for the Saudis.

China's about to unleash its roller-coaster tech market on the world. And a couple of strange and terrible things are happening to the Chinese economy all at once.

In other news, 6 million Americans have stopped paying their car loans, and it's becoming a "significant concern." Here's how baby boomers became the most selfish generation, according to Business Insider's Linette Lopez.

And lastly, here are the 43 hot cars that stole the show at the 2016 LA Auto Show.

IMAGE:A homeless man improvises his shoes with pieces of cloth in front of a closed down business in Puerta de Tierra in the outskirts of Old San Juan, Puerto Rico, Sunday, Aug. 2, 2015.Ricardo Arduengo/AP

For more on this story go to: http://www.businessinsider.com/financial-advisor-insights-november-30-2016-11?utm_source=feedburner&amp%3Butm_medium=referral&utm_medium=feed&utm_campaign=Feed%3A+businessinsider+%28Business+Insider%29

Published December 4, 2016

Join the discussion — please keep to our Community Guidelines.