Sound familiar to 2008?: “changes in the 90s enhanced asset securitization, shifting the prevalent mode of financial intermediation from a bank-centric model of taking deposits & issuing loans (holding them to maturity) to a new model where loans were packaged into securities & sold to investors.”

by Dismal-Jellyfish Source: https://libertystreeteconomics.newyorkfed.org/2023/11/the-nonbank-shadow-of-banks/ TLDRS: Fed paper: The evolution of banks and nonbanks is closely linked, particularly since the 1990s. In the 1990s, financial ‘innovation’ and regulatory changes boosted asset securitization. This shifted financial intermediation from a traditional bank-centric model (taking …

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BREAKING: Moodys Changes US Ratings Outlook to Negative

NYT: Moody’s Changes U.S. Credit Outlook to ‘Negative’ Moody’s reaffirmed America’s credit rating at the highest AAA level but expressed concern about the nation’s fiscal trajectory amid congressional dysfunction. https://twitter.com/_/status/1723093232295231929 Yesterday, the US government tried to borrow $24 billion by …

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All major buckets of jobs are showing declining growth…. How many name changes will they go through before they call it a recession?

All major buckets of jobs are showing declining growth. The labor market slowdown has been extremely slow, particularly through the cyclical sectors that have experienced labor hoarding issues. Interestingly, service sector jobs growth has cooled sharply in recent months. pic.twitter.com/ffcIIbzpUm …

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FDIC Chair: “In the near term, the FDIC, together with the Federal Reserve & the Office of the Comptroller of the Currency, will issue a notice of proposed rulemaking to seek public comment on changes to the U.S capital framework to consider how best to incorporate the finalization of Basel III.”

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 …

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Russia moves to ban sex changes

Amendments to two laws are making their way through the State Duma The Russian parliament on Wednesday advanced the proposal to outlaw almost all sex reassignment surgery, as well as gender changes on official documents. Speaker Vyacheslav Volodin cited US …

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