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“THE GRAND JURY OF THE COUNTY OF NEW YORK, by this indictment, accuses the defendant of the crime of FALSIFYING BUSINESS RECORDS IN THE FIRST DEGREE, in violation of Penal Law §175.10, committed as follows: The defendant, in the County of New York and elsewhere, on or about February 14, 2017, with intent to defraud …
GCN – The Commerce Department’s Regional Economic Research Initiative will provide accessible data tools, visualizations and expert services help to federal, state, local and tribal decision-makers better understand what kind of projects will promote growth: “A new data initiative aims to increase the understanding of local regional economies and help them compete. The Department of …
FACT SHEET: “President Biden Urges Regulators to Reverse Trump Administration Weakening of Common-Sense Safeguards and Supervision for Large Regional Banks…As the President said when his administration announced actions to stabilize the banking system, he is committed to “continuing our efforts to strengthen oversight and regulation of larger banks so that we are not in this position again.” …
“CNN’s John Miller on-air Thursday evening announced, “I am told by my sources that this is 34 counts of falsification of business records, which is probably a lot of charges involving each document, each thing that was submitted, as a separate count.” Upated April 4, 2023 – ALL 34 counts are Class E felonies – …
Bloomberg via Wealth Management: “Ransomware gangs didn’t come out with any big new innovations last year, but “what 2022 lacked in innovation it made up for in volume,” according to a report by a financial services group. In its annual outlook on cyber threats, the Financial Services Information Sharing and Analysis Center, or FS-ISAC, reported that …
San Francisco Fed: “Consumer Help Center and FDIC Resource Guide – If you have questions about a business or personal bank account, please visit the Federal Reserve’s Consumer Help Center at www.federalreserveconsumerhelp.gov, or contact the center at 1-888-851-1920 or [email protected]. Information about the Federal Deposit Insurance Corporation (FDIC) can be found at www.fdic.gov. For questions …
The New York Times – (It Involves Doing Some Math – Opinion / Video) “Partha Dasgupta is a Cambridge University economist who in 2021 prepared a more than 600-page report for the British government about the financial value of nature. Not your average bedtime reading. But believe us when we say his report, the culmination …
Washington Post: ‘The AR-15 thrives in times of tension and tragedy. This is how it came to dominate the marketplace – and loom so large in the American psyche. The AR-15 wasn’t supposed to be a bestseller. The rugged, powerful weapon was originally designed as a soldiers’ rifle in the late 1950s. “An outstanding weapon …
Via NBER – Loose Monetary Policy and Financial Instability. Maximilian Grimm, Òscar Jordà, Moritz Schularick & Alan M. Taylor “Do periods of persistently loose monetary policy increase financial fragility and the likelihood of a financial crisis? This is a central question for policymakers, yet the literature does not provide systematic empirical evidence about this link …
Jiang, Erica Xuewei and Matvos, Gregor and Piskorski, Tomasz and Seru, Amit, Monetary Tightening and U.S. Bank Fragility in 2023: Mark-to-Market Losses and Uninsured Depositor Runs? (March 13, 2023). Available at SSRN: https://ssrn.com/abstract=4387676 or http://dx.doi.org/10.2139/ssrn.4387676 “We analyze U.S. banks’ asset exposure to a recent rise in the interest rates with implications for financial stability. The …
The Atlantic – “The Fed, among others, is blameworthy. But the ultimate culprit is COVID-19…After COVID-19 hit the U.S., bank deposits soared. The pandemic-relief measures—including stimulus payments, expanded unemployment insurance, and Paycheck Protection Program funds—put more money in people’s hands, even as consumer spending fell. At the same time, businesses cut back sharply on spending …
Banking on Climate Chaos – Any bank supporting any company that is expanding fossil fuels is driving climate chaos: “Fossil fuel financing from the world’s 60 largest banks has reached USD $4.6 trillion in the six years since the adoption of the Paris Agreement, with $742 billion in fossil fuel financing in 2021 alone. This …
