Another day, another data dump. In what is now a daily routine, moments ago Wikileaks released yet another roughly 1,150 emails in Part 7 of its ogoing Podesta Email dump, which brings the total number of released emails to 10,169.
As the powers-that-be play whack-a-mole with various systemic risk indicators, desperately tamping down contagion concerns, amid no progress in strengthening the world's most systemically dangerous bank; we warned two weeks ago of yet another canary in the coalmine of Deutsche Bank's demise (that no one was looking at). This week, that canary... died.
"If Everybody's Watching, You Know, All Of The Back Room Discussions And The Deals, You Know, Then People Get A Little Nervous, To Say The Least. So, You Need Both A Public And A Private Position" - Hillary Clinton
"Even if he’s as bad as he sometimes projects to be, he’s not as bad as Hillary’s policy-record already is." Sometimes, things in politics are the opposite of the way they seem. The Presidential contest between the ‘liberal’ Hillary Clinton’ and the ‘conservative’ Donald Trump is perhaps the most extreme example of this - for these ten reasons...
Last week, the California ACLU released an alarming report about California law enforcement agencies’ covert use of social media surveillance software. The report compiles records requested of 63 police departments, sheriffs, and district attorneys across the state. The ACLU found over 40% are using the software without any transparency or public disclosure.
The Fed clings to status quo. Other central banks are vying to knock it down, or at least loosen its grip on them. But the Fed behaves as if it has no idea there are other powerful central banks that want to grab and harness its power. It carries on refusing to acknowledge that there may come a time, sooner rather than later, where its power is attacked. The ramifications of such an attack will impact the standing of the U.S. in the world. The Fed can carry on being oblivious, but Game of Thrones illustrates the struggles playing out right now.
Wells Fargo Special Committee of Independent Directors announces plan to claw back $60mm in unvested options from Stumpf and Toldstedt in addition to other salary, bonus and severance payments but this may be just the beginning.
"...I don’t understand the policy details and implications of most of either Trump’s or Clinton’s proposed ideas. Neither do you. But I do understand persuasion. I also understand when the government is planning to confiscate the majority of my assets. And I can also distinguish between a deeply unhealthy person and a healthy person, even though I have no medical training. (So can you.)"