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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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Meet the 33-year-old CEO betting on boomers chasing their grandkids—and millennials selling their first house

3

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

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

Meet the 33-year-old CEO betting on boomers chasing their grandkids—and millennials selling their first house

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: June 24th

Kristen Bellstrom
By
Kristen Bellstrom
Kristen Bellstrom
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Kristen Bellstrom
By
Kristen Bellstrom
Kristen Bellstrom
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June 24, 2016, 7:57 AM ET
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Good morning, Broadsheet readers! Britain votes to leave the E.U., Sheryl Sandberg weighs in on mean girls, and Ivanka Trump gets a lawsuit of her very own. Have a relaxing weekend.

EVERYONE'S TALKING

• Bye-bye, Britain. The United Kingdom has shocked the world by voting to leave the European Union after 43 years. International markets are in disarray, and, frankly, no one knows exactly what's going to happen. What we do know: U.K. Prime Minister David Cameron is resigning and Scotland's First Minister Nicola Sturgeon (who called the vote "democratically unacceptable for Scotland," given that it clearly voted to remain) will prepare the legislation for a second referendum on independence.

Other female leaders to watch in the upcoming few days are Marine Le Pen, leader of France's far-right National Front party, who called the vote a "victory" and called for similar referendums in her country and other members of the bloc; and German Chancellor Angela Merkel, who took the opposite view of events and urged Europe to "stand together."

ALSO IN THE HEADLINES

• Quashing the Queen Bee. Sheryl Sandberg, writing in the NY Times with University of Pennsylvania professor Adam Grant, argues the idea that women don't support each other professionally (think mean girls and queen bees) is a myth or, at the very least, greatly exaggerated. She musters an impressive array of research to prove it—I suggest bookmarking this piece for the next time someone uses the phrase "catfight."  New York Times

• I'm worried. While I consider myself to be pretty desensitized to sexist marketing, a Bayer aspirin ad by Brazilian agency Almap BBDO—which received an award at Cannes Lions yesterday—shocked me. The ad is simple, just this line of text: “‘Don’t worry babe, I’m not filming this.’mov.” To me, that clearly reads as a reference to nonconsensual recording of sex. When people use the phrase 'rape culture,' this is what they're talking about.  Fortune

• Work on it. If, after the Bayer ad, you still need convincing that it's time to overhaul the advertising industry, consider this: Just 3% of global advertisements feature working women. Fortune

• Sitting pretty. Meet Rep. Katherine Clark (D-MA), who first floated the idea that the Democrats stage a sit-in to protest the GOP's refusal to hold votes on two gun control provisions. (The sit-in ended yesterday afternoon, though Dems say they will resume the protest when Congress returns on July 5th.) Time

MOVERS AND SHAKERS: Lockheed Martin has added Ilene Gordon, CEO of Ingredion and  No. 45 on Fortune's list of the Most Powerful Women, to its board. Maria Grazia Chiuri, now co-creative director of Valentino, is expected to be named artistic director of Dior, becoming the first woman to lead the brand in its 70-year history.

IN CASE YOU MISSED IT

• Too close for comfort. Ivanka Trump is being sued by Italian shoe brand Aquazzura, which claims her eponymous retail label has copied its designs.  Fortune

• Better late than never. In 1998, when she was 24, Brenda Tracy was allegedly gang-raped by four football players, two of whom played for Oregon State University. Mike Riley, then the head coach at OSU, suspended his two players for one game, telling the media, "These are really good guys who made a bad choice." Yet, in this moving story, Tracy tells the story of how the coach, now at the University of Nebraska, ultimately took responsibility for his actions, apologizing and inviting her to tell her story to his players.  Washington Post

• Robots have biases, too. A dearth of women and minorities working on artificial intelligence has the potential to create AIs with distinctly white male biases."If un-diverse stuff goes in, then closed-minded, inside-the-box, not-very-good results come out," says Margaret Burnett, an Oregon State computer science professor. Bloomberg

• Using their voices. Lady Gaga, Katy Perry, and Barbra Streisand are among the music superstars who signed an open letter from the editors Billboard telling Congress to “Stop Gun Violence Now.” Fortune

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ON MY RADAR

Yes, couples who share chores have more sex  Motto

Adele’s ‘25’ finally comes to streaming services New York Times

One year after she took down the Confederate flag, activist Bree Newsome looks back  Elle

Sarah Jessica Parker's HBO show Divorce looks like a darker Sex and the City  Racked

QUOTE

When I'm met with sexism, I'm like, 'Are you kidding me?'

<em>Broad City</em> star Ilana Glazer
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