House Financial Services Committee

The Fed Gave Wall Street A Bomb, And The Taxpayers Are Paying Ransom

In 2016, this policy paid $16 billion to big banks, a number that will likely rise as the interest rate payments go up with every increase in the federal funds rate...So this is the true policy issue going forward, how do you stop the taxpayer subsidy to Wall Street while avoiding lighting the fuse to Bernanke’s inflation bomb?

Don't Be Fooled - The Federal Reserve Will Continue Rate Hikes Despite Crisis

"Perhaps investors should consider that they are being duped by central bank ploys, and that they are useful idiots in a game designed to keep the public under control with fraudulent markets until the Fed is ready to pull the plug. When the crash takes place, the Fed will find a way to remove itself from any blame."

Janet Yellen Is About To Speak: Here's What To Look For

Fed Chair Yellen will be testifying to the House Financial Services committee at 1000EDT, followed by testimony tomorrow before the Senate Banking Committee, however her prepared remarks will be released 90 minutes earlier, at 8:30am. Courtesy of RanSquawk, here are the main things to look for in her prepared testimony as well the subsequent Q&A...

Frontrunning: July 12

  • Yellen to Address Interest Rates, Balance Sheet (WSJ)
  • Stocks Rebound as Dollar Dips on Trump Revelations (BBG)
  • Trump Jr.'s Russia emails could trigger probe under election law (Reuters)
  • Trump Jr. Emails Fan the Flames of Russia Probe (WSJ)
  • Trump’s Credibility Dealt Blow by His Son’s Emails (BBG)

CFPB Makes It Easier For Customers To Sue Banks

"But... It’s all but certain that Republican lawmakers in control of the House and Senate will move quickly to overturn the rule as part of their ongoing efforts to cripple the consumer-watchdog agency and create a more business-friendly regulatory landscape"...

Krieger: Wall Street Completely Owns The Trump Administration

"While America’s corporate press remains singularly obsessed with unproven and likely fabricated Russia-collusion conspiracy theories, Wall Street’s well on its way to getting away with financial murder thanks to an army of cronies embedded within the Trump administration."