A hedge fund called The Baupost Group made $3B after wagering on the insurance claims they bought at a significant discount from insurance companies that represent victims of the CA fires sparked by the utility PG&E--fires made worse due to climate change-fueled drought. Tens of thousands of victims are still waiting on settlement money. But insurance companies sold the claims to get paid upfront, and Baupost got billions after PG&E shares rebounded after PG&E's bankruptcy.
BreakThrough News Saudi Arabia has $142 billion in American weapons. Yemen is the poorest country in the Arab world. So why can't Riyadh win? Last month, Ansar Allah seized Mokha and Perim Island, and with them the Bab el-Mandeb Strait, cutting off Saudi Arabia's alternative oil route around the closed Strait of Hormuz. Mohammed bin Salman begged Trump for US airstrikes, then backed "Dawn of Yemen," a 100-warplane offensive aimed at Sanaa, as crude oil again tops $100 a barrel. Veteran war correspondent and analyst Elijah Magnier joins Rania Khalek and Zoe Alexandra on the Red Sea front, as nearly 1,000 Yemenis have been killed and 184,000 displaced since fighting resumed. But Magnier argues Ansar Allah – often referred to in US media as the Houthis – hasn't lost much ground. He explains why Saudi warplanes are largely powerless in Yemen's mountainous terrain, and why he sees the movement advancing on Taiz and Marib. And Magnier breaks down how Hormuz and Bab ...
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