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How Scott Bessent used financial engineering to finance the $2 trillion deficit while leaving it untouched—and created a $1.45 trillion shortfall

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1

How Scott Bessent used financial engineering to finance the $2 trillion deficit while leaving it untouched—and created a $1.45 trillion shortfall

2

The emerging deal to reopen the Strait of Hormuz reportedly recognizes Iran’s control—and the U.S. may have to accept it

3

The tables have turned: Florida and Texas are the biggest losers in the housing market as Ohio emerges a surprise winner
Broadsheet

The Broadsheet: March 3rd

By
Deena Shanker
Deena Shanker
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By
Deena Shanker
Deena Shanker
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March 3, 2015, 7:28 AM ET
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Good morning, Broadsheet readers! Hillary potentially broke State Department rules by using her personal email account for government business, the longest-serving female senator ever announces her retirement and Judge Judy promises us five more years.

And sorry for yesterday’s delayed ‘sheet. We had some technical difficulties that I can proudly say were not my fault! Huge thanks to Fortune editor Dan Primack for sorting through the problems and getting the newsletter out.

EVERYONE'S TALKING

• Raising a red flag. Hillary Clinton exclusively conducted U.S. State Department business from her personal email account, possibly breaking violating federal requirements for retaining official records. In fact, she didn't even have a government email account. Clinton recently turned over more than 55,000 pages of correspondence upon request from the State Department, and her spokesman says that she has complied with the “letter and spirit of the rules.” NY Times

ALSO IN THE HEADLINES

• The retiring type? Sen. Barbara Mikulski (D-MD), the longest-serving female senator to date, announced her plans to retire at the end of her term in 2017. Sen. Mikulski's accomplishments are many over her 28 years in office, including being the first woman to lead the all-powerful Senate Appropriations Committee. And she protested skirts-only rules on weekends, making the pantsuit a fashion staple for congresswomen.

• Doxxers beware. Twitter safety chief Del Harvey last month told The Wall Street Journal that the company was getting serious about dealing with abuse that takes place on its network. Now the company is taking concrete steps, including a "report dox" option that allows users to tell Twitter when personal information has been inappropriately posted.   Ars Technica

• Mind the gap. You can't escape the wage gap, but you can find out if your industry is worse than most. Fortune lists the 20 jobs with the biggest gender wage gaps.  Fortune

• Warren words. Warren Buffett thinks Sen. Elizabeth Warren (D-MA) needs to simmer down. "I think that she would do better if she was less angry and demonizing." Bloomberg

• An honorable legacy. Women's shelters in Afghanistan, which often house targets for honor killings, "are one of the most successful — and provocative — legacies of the Western presence," writes Alissa Rubin in The New York Times. NY Times

• Free advice. Popeyes CEO Cheryl Bachelder and public health lawyer Michele Simon offer some thoughts about how new McDonald's CEO Steve Easterbrook can turn around his flagging company. Fortune

• Wynn-ing and losing. Wynn Resorts Ltd. is attempting to keep Elaine Wynn, a major shareholder and the ex-wife of the Chairman and CEO Steve Wynn, off its board when her term expires April 24. “This news is extraordinarily disappointing, not just because I, as the co-founder of Wynn Resorts, have devoted my life to making this company a success, but because the decision excludes the last woman director from the board,” Ms. Wynn said.  WSJ

• Time for a new look. 37% of Americans are non-white minorities, but last year only 16% of major fashion magazines featured women of color on their covers. Fusion

• Starving artist. Performance artist Marina Abramovic once sat for six days a week, 8-10 hours a day, and didn't even get up to eat or use the bathroom. Her one-woman show brought in 1,500 visitors, including Sharon Stone and Lou Reed. So why is it so hard for her to make a living?  Bloomberg

• MOVERS AND SHAKERS: Mary Lou Jepsen has reportedly left her position as a high level executive at Google X for Oculus, a virtual reality startup acquired by Facebook last March.  Re/code

IN CASE YOU MISSED IT

• The devil is actually very empathetic. Anna Wintour says getting fired is a good thing. And you know what? I believe her. Fortune

• Um... thanks? PowerToFly co-founder and president Katherine Zaleski says she's sorry about all the insensitive things she to did to working mothers — now that she's a working mother herself. Fortune

• A path to true independence. Let's be honest for a minute: That moment of panic you experience when you think you left your smartphone at home is not good for you. It's time to break the shackles of constant availability and incessant communication. No day like today.  Inc.

• Mama's boys. The theme of Dolce & Gabbana's fall/winter 2015 collection is mothers. Designers Domenico Dolce and Stefano Gabbana even sent a pregnant model and three models carrying their own children down the runway on Sunday in Milan.   NY Mag

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ON MY RADAR

Why Marisa Mayer embraces micromanagement  Quartz

The 'Shark Tank' judges are asking these questions and so should you  Inc.

"Divergent" author Veronica Roth is working on a new book series  Cosmopolitan

Here's a reminder: Laughter makes meetings better  Entrepreneur

QUOTE

Don't pee on my leg and tell me it's raining.

Judge Judith Sheindlin, who yesterday signed on for another five years of her show, <em>Judge Judy</em>
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By Deena Shanker
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