Independent thinking for complex markets and current events
Is the regional bank crisis ending or just starting? Recent developments, such as the sharp decline in New York Community Bancorp’s stock from commercial real estate losses, signal potential trouble. With $500 billion in debt maturing this year and falling property values, small banks are bracing for a crisis.
(Bloomberg) — Federal Reserve Chair Jerome Powell will appear on CBS News’s 60 Minutes this Sunday and will discuss inflation risks, expected rate cuts and the banking system, among other topics, the network said. CBS announced his appearance on the social media platform X on Thursday, the same day that the interview was conducted. Powell …
The House GOP’s top tax writer doesn’t just face blowback over the surprise deal he unveiled this month: Now the background chatter suggests Rep. Jason Smith (R-Mo.) could lose his gavel. Why it matters: Senior Republican sources said Rep. Vern Buchanan (R-Fla.) — who narrowly lost a heated three-way race for the position in 2023 …
Arizona Senate candidate Kari Lake called on the state’s GOP chair Jeff DeWit to resign after a recording emerged of him trying to bribe Lake to stay out of politics for two years. In the recording, first reported by the Daily Mail, DeWit, 51, can be heard asking lake to name her price not to …
Source: https://t.co/mLJa5anCgw — Chief Nerd (@TheChiefNerd) December 15, 2023
The Inside Story on How FBI Sources Who Professed Biden Crime Family Corruption Were Shut Down ‘Breaking Biden’ Author: Biden ‘Crime Family’ Will Crumble if Forced to Testify Before Congress Top Hunter Biden Prosecutor Needed Authorization From DOJ Tax Division to Bring Charges, Testimony Shows Family who sold out our country…
BREAKING : G7 Chair Japan refuses support to Canada Japan has not yet agreed to a suggestion to raise the issue of killing of Khalistani separatist Hardeep Singh Nijjar on Canadian soil at the Quad foreign ministers’ meeting in New York on the sidelines of the UN General Assembly on Saturday. Read more at: https://economictimes.indiatimes.com//news/india/g7-chair-japan-refuses-support-to-canada/articleshow/103874390.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst …
On Friday’s broadcast of the Fox Business Network’s “Maria Bartiromo’s Wall Street,” Select Committee on the Chinese Communist Party Chairman Rep. Mike Gallagher (R-WI) argued that there are “startling parallels” between the investments in subprime mortgages in 2008 and American investments in China and argued that businesses are not sufficiently disclosing or factoring in the …
Vice chair of Minnesota Democrat Party who advocated for dismantling police gets violently beaten and carjacked A far-left Minneapolis activist was the victim of a brutal armed car-jacking that occurred in the driveway of her home on Tuesday evening. Shivanthi Sathanandan, a radical leftist and second vice chairwoman of the Democratic Farmer Labor party in Minneapolis, who was left …
https://twitter.com/_/status/1689368427729747968
by confoundedinterest17 The Biden Administration is gushing about Q2’s Real GDP report of 2.4% QoQ. Wow, after trillions of dollars of stimulus spending and The Fed going wild with monetary stimulus, all we got was 2.4% growth?? But let’s turn the cameras on the housing market. Pending home sales crashed -14.8% YoY in June. Is …
via newsbusters: It’s not just that the 51 former members of the intelligence community theorized Hunter’s laptop was Russian disinformation, it is that they did so for explicitly partisan purposes and the media just went along with it. McDaniel is making a case about fake news and implicitly, the media’s unwillingness to combat it when that fake …
WASHINGTON, July 10 (Reuters) – The Federal Reserve’s top regulatory official laid out a sweeping plan to increase capital requirements for the nation’s largest banks in the wake of recent bank failures, a move that was immediately met with criticism from the industry. In a widely-anticipated speech, Fed Vice Chair for Supervision Michael Barr said …
by Dismal-Jellyfish Fed Vice Chair for Supervision Michael S. Barr Proposes Major Banking Regulation Overhaul. Proposed changes aim to make banks more cautious in lending and trading practices by requiring them to hold more capital & wouldn’t be able to use their own models for certain hard-to-model market risks. Source: https://www.federalreserve.gov/newsevents/speech/barr20230710a.htm Highlights: Barr’s speech gets …
by Dismal-Jellyfish Source: https://www.fdic.gov/news/speeches/2023/spjun2223.html TLDRS: After the 2008 financial crisis, banks were found to be undercapitalized and over-leveraged, leading to a complete overhaul of capital requirements through a set of rules known as Basel III. The aim was to ensure banks held enough capital to weather economic storms. However, Basel III is not yet complete, with …
via WSJ: Federal ethics rules require executive-branch employees to recuse themselves when circumstance would cause a “reasonable person with knowledge of the facts to question his impartiality.” FTC ethics official Lorielle Pankey wrote in a 14-page memo dated Aug. 31, 2022 that Ms. Khan’s past statements about Meta were such a circumstance. “In my view, …
