#FDIC Chair #MartinGruenberg will resign after an outside report found #evidence of a “misogynistic” & “patriarchal” culture at the #banking regulator. #Gruenberg… announced Mon he would resign once President #Biden appoints & the Senate confirms a successor….
An independent investigation led by an outside law firm found rampant instances of #abusive workplace conduct…, incl’g #SexualHarassment, #stalking & inappropriate supervisor-subordinate relationships….
“Marty, you’ve heard me say this to you directly: You should resign,” Sen #TimScott (R-SC), the top #Republican on the #Senate#Banking Cmte, said. “Your employees do not have confidence in you. And this is not a single incident. This spans over a decade+ of your leadership at the #FDIC.”
Sen #SherrodBrown (D-OH), chair of the Banking Cmte, called on Mon for “new leadership” at the FDIC to “fix the agency’s toxic culture & put the women & men who work there —& their mission— first.”
Big banks have funneled nearly $7 trillion in funding to the fossil fuel industry since the Paris agreement on carbon emissions, $3.3 trillion towards expansion.
When the UK’s deputy foreign secretary has to admit that around 40% of all money laundered globally likely flows through London & the Crown Dependencies, you can bet that such an estimate will be on the low side.
There are many reasons that the UK's global reputation is increasingly tarnished & the work in financial services to hide & process criminal/illegal funds is contributing to that malaise.
So much for the value of financial services to the UK
We all think of The Fed as being somewhat "in charge of interest rates"... So I wondered how true that was. I plotted the difference between Banking Prime Rate and Federal Funds rate through time...
Before 1991 this was around 1% +- 1% fluctuating quite a bit. After 1991 it's 3.0 +- 0.05 or something like that. Now, that just isn't plausible without being rigged.
Daten mit "Partnern" Teilen heißt natürlich: Daten verkaufen. Mit Benutzerdaten wird schwunghafter Handel betrieben. Die "Partner" der ersten Stufe verkaufen die Daten weiter, und zwar in beträchtlichem Umfang. So partizipieren plötzlich hunderte andere Firme
I just got emails that sure looked like official messages from my bank saying I'd added a Zelle recipient and sent him a bunch of money.
Of course I didn't click on any of the links; I just went to my bank's website and checked my accounts, and everything is fine. Also: The Zelle messages referenced an account ending in four digits which match none of my bank accounts.
So a warning that fake messages like this are circulating.
“‘while allowing #theFed the flexibility to unwisely expand its remit into inherently #political areas such as #credit rationing & #banking#regulation.’ Here is #groupthink: ‘Despite the biggest #monetary errors in 4 decades,’ Katz & Miran write, none of the 9 recent appointees to the Board of Governors was on record as having made accurate predictions about #inflation’s path.
The #UnitedStates will impose sanctions on Iran’s missile & drone program, as well as entities supporting the Iranian regime or military, #NationalSecurity adviser Jake Sullivan announced late Tues.
Earlier in the day, #Treasury Secretary Janet Yellen said additional sanctions on Iran would be forthcoming in retaliation for its attack against Israel over the weekend.
#US ofcls & their #EU#allies are discussing potential #economic responses to Iran, as leading Western ofcls converged on Washington for the spring meetings of the % #IMF & #WorldBank. Their options are limited because #Iran is already one of the most heavily penalized countries in the world, w/ US #sanctions in effect on its #banking, #manufacturing & #energy sectors.
Trump stands to gain billions… from the merger between TrumpMedia & Tech & the blank-check co [#SPAC] #DWAC, which took the parent company of #TruthSocial public.
The new details are drawn from docs incl’g: #PaxumBank recs showing #Postolnikov having access to the trust’s acct, papers that created the trust showing as its settlor a lawyer in St Petersburg, #Russia, & 3 yrs of its #financial transactions.
The concern surrounding the #loans to #Trump Media is that #ESFamilyTrust may have been used to complete a transaction that Paxum itself could not.
Paxum DOES NOT OFFER LOANS in the #US as it lacks a US #BANKING#LICENSE & is not regulated by the #FDIC.
“[#MichaelShvartsman stated a friend of his owns a bank in the island of Dominica & would be able to provide #banking services to #Russia & #Ukraine Nationals if the [CI] had other clients in need of that service,” the DHS rpt said.
“[Shvartsman’s assoc] told the [CI] that he does not think the #SEC [could] go after [Shvartsman] for his part…but mentioned that [Shvartsman] essentially provided ‘#BridgeFinancing’ for the firm behind… #TruthSocial….”
Historical question! Does anyone know when institutions in the English-speaking world - corporations, government departments, etc - began opening bank accounts in their own names rather than entrusting funds to individual officeholders (who often mixed public and private funds in personal accounts)? I'm currently looking at 1830s-40s Canada where, if I'm understanding the admittedly sparse material correctly, this shift had not yet occurred. @histodons@econhist