Tag: Wall Street

Biden Admin in Talks to Potentially Bail Out a Third Bank: Report

Arizona Sun Times Staff

The U.S. government is considering backing a potential deal to rescue the struggling First Republic Bank, in a bid by U.S. officials and Wall Street executives to head off the chance of a third major bank failure, Bloomberg reported, citing people with knowledge of the discussions.

Wall Street investors have expressed an interest in helping stabilize the struggling San Francisco-based bank, which has been selling assets — which lost value amid the Federal Reserve’s aggressive campaign of interest rate hikes designed to combat inflation — to pay out a surge in customers pulling their funds from the bank, according to Bloomberg. While the extent of government aid has not yet been decided, the government could cover the cost of First Republic’s losses or offer liability protection to companies involved in a deal.

Read More

Commentary: FTX and the Root of Our Financial Crisis

Arizona Sun Times Staff

Both liberal and conservative commentators, whether talking about the Great Recession, the financial collapse and bailouts of recent vintage, or now the FTX cryptocurrency Ponzi scheme, have neglected the cultural and moral reasons for these repeated episodes of economic mess and criminality. Unless those causes are addressed, all the finger pointing and proposed “solutions” will be about as helpful as putting a bandage on a tumor. 

Read More

Wall Street Is Freaking Out About One Major Recession Indicator

Arizona Sun Times Staff

Wall Street investors and economists are sounding the alarm over a yield curve inversion, one of the most reliable indicators that a recession is coming, according to The New York Times.

The yield curve inversion, or when two-year bonds have a higher return than ten-year bonds, hit its largest spread yet on Wednesday, sending investors into a panic, according to the NYT. Economists and investors see this kind of inversion as a negative omen for the economy, and every recession in the U.S. in the last 50 years has been preceded by a yield curve inversion.

Read More

GOP Calls Out Biden’s Attempt to Impose a ‘Green New Deal’ Through Wall Street Regulation

Arizona Sun Times Staff

A group of 40 House Republicans sent a letter to the Securities and Exchange Commission (SEC) Monday, urging the agency to rescind a regulatory proposal forcing companies to disclose “climate-related risks.”

The Republicans, led by House Oversight Subcommittee on Environment Ranking Member Ralph Norman, slammed the financial regulator, saying it exceeded its congressionally-mandated authority in issuing the climate rule, in the letter obtained exclusively by the Daily Caller News Foundation. The lawmakers added that the rule was especially inappropriate given the ongoing energy crisis.

Read More

Schweizer: The Titans of Wall Street Are Among China’s Closest American Allies

Julie Carr

TRANSCRIPT: McCabe: One of the great ironies in investigative journalist Peter Schweizer’s new book Red-Handed is the degree to which the Chinese Communist Party has infiltrated the very heart of American capitalism on Wall Street. Schweizer told The Star News Network that the titans of Wall Street are among China’s…

Read More

Schweizer: BlackRock CEO Larry Fink, Other Wall Street Leaders Partner with Chinese Coal, Military Enterprises

Neil W. McCabe

The investigative journalist and author of Red-Handed: How American Elites Get Rich Helping China Win told The Star News Network the titans of capitalism on Wall Street are now the partners of the Chinese Communist Party.

“What China wants from Wall Street is access to Western capital with no questions asked, and unfortunately the biggest fans on Wall Street are prepared to give it to them,” said Peter Schweizer, who is the president and founder of the Government Accountability Institute and the host of The Drill Down podcast.

Read More

Woke Investment Firm Will Require Approval to Hire White Men

Peter D'Abrosca

According to several Sunday reports, one of the world’s largest investment firms has set strict guidelines on when white men can be hired in a new diversity initiative. 

State Street Global Advisors will require leaders to seek approval before they hire white men, according to Fox Business. 

Read More

U.S. Consumer Spending Grew Slowly in September amid High COVID-19 Cases, Supply Chain Problems and Rising Inflation

Arizona Sun Times Staff

U.S. consumer spending growth slowed in September, and income dropped due to high COVID-19 cases, supply shortages, rising inflation, and ending unemployment benefits.

Consumer spending increased 0.6% in September, down from a 1% jump in August, the Commerce Department announced Friday. Personal income fell 1% in September, driven by a 72% drop in unemployment insurance benefits that offset a 0.7% spike in wages and benefits, according to The Wall Street Journal.

Economists polled by Reuters projected a 0.5% in consumer spending. Delta variant cases peaked in the middle of September, and the continued supply chain backups have caused shortages and rising prices, making it harder for consumers to purchase their desired goods, the WSJ reported.

Read More

Commentary: Biden’s Desperate Race to the Lying Bottom

Arizona Sun Times Staff

On Monday, Joe Biden uncorked the largest lie of a 50-year political career overstuffed with them.

“My Build Back Better Agenda costs zero dollars,” he tweeted. “Instead of wasting money on tax breaks, loopholes, and tax evasion for big corporations and the wealthy, we can make a once-in-a-generation investment in working America. And it adds zero dollars to the national debt.”

Read More

Commentary: ESG Investing Is Politics by Other Means

RealClearWire

Before Joe Biden’s election, environmental, social and governance (ESG) investing was sweeping all before it. Wall Street was coming to the planet’s rescue and saving capitalism at the same time. It was a self-serving myth. As I show in my new report Capitalism, Socialism and ESG published today, doing well by doing good is no more than Wall Street sales patter. But since the election, financial regulators have been falling over themselves playing catchup.

Read More