Must Read Money Stories, Thursday, Nov. 20

by November 20, 2014


The Bill Cosby fallout has begun. NBC, Netflix and TV Land are all backing away from the the 77-year-old comedian after four women have come forward recently accusing him of rape, including model Janice Dickinson, the New York Times reports. NBC was developing a pilot with Cosby that would have brought him back to primetime, and Netflix was planning to release a comedy special commemorating his 77th birthday. Here’s Ta-Nehisi Coates on Cosby:

“Believing Bill Cosby does not require you to take one person’s word over another—it requires you take one person’s word over 15 others.”

JetBlue is aiming to please … its investors. The airline that has boasted its free amenities in the past is now introducing new baggage fees and cramming more seats onto its planes, and could make an additional $450 million thanks to these new initiatives, according to Businessweek. This is more of the same for air travelers who have grown accustomed to creeping baggage costs and reduced leg room.

Wall Street banks could be directly manipulating commodities markets. The New York Times reports that a two-year Senate investigation has revealed that Goldman Sachs, JPMorgan Chase and others could be swaying the costs of vital resources like oil, and passing insider information about those markets over to their traders. According to the Times, bankers have bought up large market shares of oil, aluminum and coal since a ban preventing them from owning physical commodities and infrastructure was lifted. Some senators worry that this leaves room for Goldman and other banks to manipulate the markets and have an unfair advantage over their competitors.

Adult Swim pokes fun at the startup world. The channel — broadcasted on Cartoon Network from 8 p.m. to 6 a.m. — satirized Silicon Valley with this hilarious video about a startup that analyzes your fecal matter. “Smart Pipe” is installed into your plumbing system and updates your social media with the contents of your latest bowel movement. And it’s free of charge because the company sells your data! (Sadly, I don’t find this scenario that farfetched.)