35 Burst results for "Bank Of"

Robby Mook: Clinton Agreed to Feed Trump-Russia Material to Reporter

Mark Levin

01:23 min | 16 hrs ago

Robby Mook: Clinton Agreed to Feed Trump-Russia Material to Reporter

"People are saying oh my the lawyers were shocked During testimony today by the campaign chairman for the Hillary Clinton decide this campaign Robbie mook and my okay As reported by the Washington examiner Hillary Clinton personally signed off on sharing since debunked Trump Russia allegations related to alpha bank With the media during the 2016 election according to our campaign manager Robbie moved testified today he was briefed about the alpha issue first by Clinton campaign general council Mark Elias There's another reprobate In this summary 2016 you said the campaign leadership quickly had a meeting about whether the share the information with the media which they decided to do Now they had to know the information was false Do you know how They concocted it They're also present in the meeting where campaign chairman John Podesta A longtime scud Communications director Jennifer palmieri policy adviser Jake Sullivan who is now President Biden's national security adviser according to mook So they all get together and they're trying to figure out how to put this false information out In October as an October surprise to ruin the Trump campaign

Robbie Mook Hillary Clinton Clinton Campaign General Counc Mark Elias Robbie Russia Scud Communications Washington Jennifer Palmieri Jake Sullivan John Podesta President Biden Mook
Will There Be Charges Against Hunter Biden & Joe Biden?

Mike Gallagher Podcast

01:59 min | 1 d ago

Will There Be Charges Against Hunter Biden & Joe Biden?

"For two years, people were shut down. Donald Trump tried to raise Hunter Biden's shady business deals with China. Oh, he's crazy. He's just Donald Trump. Biden said there's nothing to it. Well, settle in and witness the unfathomable. Here is NBC's Hallie Jackson, the morning on The Today Show. Hey there, Craig. Good morning to you. And this morning, we're learning more about the president's son and the paying off of a multi-million dollar tax bill he owed. Now the open question for both Hunter Biden legally and President Biden politically is whether or not there will be any charges in this federal criminal investigation. With federal prosecutors poring over Hunter Biden's finances, investigating whether he violated federal tax law this morning a representative for the president's son tells NBC News, his IRS Bill totaling about $2 million has been paid off. Two people familiar with the matter. Say the money was arranged by one of the younger Biden's new attorneys. Hollywood lawyer Kevin Morris, best known for brokering a deal for the South Park TV show. Does paying that tax bill wash away any liability that Hunter Biden may have now? Paying the tax bill. If in fact that's what he did, doesn't undo the crime. It would be like returning money to a bank that you robbed. You still rob the bank. The president's son and his company brought in about $11 million between 2013 and 2018 working as an attorney, a board member to a Ukrainian gas company accused of bribing a prosecutor, and for a joint venture involving a Chinese businessman. Now accused of fraud, according to an NBC News analysis of a copy of Biden's hard drive, and iCloud account obtained by NBC from a representative for Rudy Giuliani, as well as documents released by a Senate committee. During the campaign, then candidate Biden denied his son profited off of China connection.

Hunter Biden Donald Trump Hallie Jackson Biden President Biden Kevin Morris The Today Show NBC Nbc News Craig China IRS South Park Hollywood ROB Rudy Giuliani Senate Committee
Patrick Assalone Gives Us the Inside Scoop on Investing

The Doug Collins Podcast

01:37 min | 3 d ago

Patrick Assalone Gives Us the Inside Scoop on Investing

"A step further. For the average person who would like to learn more besides, you know, target trading and you're actually doing this, is just regular investing the best ways you're looking at is just become passive. Is that why one of the underpinnings of our economy has become one of those and I've been on the other side. I had a series 7 to 66. I was on the retail side. I saw what the institutional side did when I was at wachovia securities. And it was strange how the institutional side would always tell you XYZ was a conviction by make sure your clients are all in it. The reason was is the institutional side had already run it up as much as they possibly could, and they needed a bunch of suckers to offload the stock on. Because without those buyers, they couldn't sell. And that's essentially what these big banks are. If you think for one moment that there's this Chinese wall protecting them from you, there's not. They know exactly what you're holding. They know exactly what you're being sold. They know what positions you're in. They know this because why? Your financial adviser is most likely selling them one of their products that create the biggest rip or commission for them. They're not managing for you. They call you when they need more money. They call you when they've got something that's a great buy and you should do this. I don't make any money off any of my students aside from education. I am the only person in this business that actually calls the levels out the session before. Where to get in, where to get out and how to do it with how many the day before. Nobody else does that. You can go

Wachovia Securities
Target Trading Academy's Patrick Assalone on Futures vs. Stocks

The Doug Collins Podcast

01:50 min | 3 d ago

Target Trading Academy's Patrick Assalone on Futures vs. Stocks

"I've done this before with other things because I want people to understand as well. We may be a conservative political. We talk alive. We talk politics, but we also talk finances, and I've had people on about Bitcoin. I've had people on about other things in life, but let's break this down. You made a great distinction I was going to let you make it. And that is that you talk about futures trading as opposed to, you know, what we see right now with what in many ways is the stock market, you know, the average investor out here is chasing an invisible car or a dog that they'll never catch. And it's the investors it's the institutional traders and everything else that are really market this market. Explain the difference in, you know, and you talk about how you could go all day without the stock side. Give us a little bit of a difference. And essentially the reason being is because they're open before the pit session in New York is. So let's say that you were holding a position in the S&P 500 and it's for all intents and purposes at 4500. You wake up the next morning, it's at 45 50. Well, how's that possible? It's because the futures market ran it up. That's how it works, okay? So what you don't know about the futures market is enormous. What you do know is it's a lot safer than just about anything else there is. Now, how does it possibly run up? Well, because the same banks, hedge funds, large financial entities. They're the ones running this market up in the overnight. They're the ones that run it down in the pit session. They're the ones that crash the market. And then you call your broker and your broker says, buy the dip. Which one? How do I know this is the last dip, you don't know that, because they don't know. They have no idea. So what makes us different? I'm not trying to beat the big money. I sort of draw the correlation

New York
What Did Robert Hanssen Get Out of Being An Evil Russian Spy?

The Eric Metaxas Show

03:12 min | 5 d ago

What Did Robert Hanssen Get Out of Being An Evil Russian Spy?

"We are talking to Lee's wheel. You probably know her. Remember her from Fox News and many other prominent places talking about many things kind of like this, but nothing can top this. She has a brand new book out called a spy in plain sight. The inside story of the FBI and Robert Hansen, America's most damaging Russian spy. It really is nightmarish. And I always say, Lee's that, you know, apart from my faith in God, I don't know how to process this. I think you would just be frightened at how evil the world is, how dark it is. I have to ask you the most basic question. What do you suppose that Robert Hansen got out of this? In other words, it's kind of a funny thing. I always feel that these traders sell themselves extraordinarily cheaply, you know, that China has billions of dollars to spend. And if there's anybody out there willing to kind of give them a leg up here or there, what was Russia giving this man? And again, we want to be clear. This wasn't Russia. This was the Soviet Union, as wicked as it gets. The evil empire, what were they giving him to make him feel that it was worth his doing this because he could have made a decent job doing the right thing. What were they giving him? Right, exactly. Cash. I mean, they were giving him bundles of $30,000, $10,000, $50,000. At one point he asked for diamonds, they gave him diamonds. And he had a cash flow problem, right? Because you can't put more than $10,000 in cash into a bank without alerting all sorts of things. So he would just honestly put it in a drawer. He put it under the bed. And in fact, Eric, one time when he had the cash in the drawer, Bonnie, his wife, saw the money in the drawer. It was like a sock drawer or something, you know, basic drawer like that. She pulled out the money, sees all this cash. She confronts him. This was early on in his spine, confronts him. She thinks it's money for a mistress because he's got he's done that before. Say that again, money from what? We're a mistress from mister. Oh, because he had cheated on his wife. Right. So she thinks that she confronts him. He says, oh, no, no, Bonnie. I'm not cheating on you. This is just money that I got from the Russians for spying. That was better or something. But he did say that to him. Yes, no, he admitted it to her. And then they, but here Eric, here's a twist. It go to their priests. That's what body his wife wants to do. They go to the priest, the priest basically says, oh, that was bad. Don't do that again. It's fine, that is. And you can be absolved from it if you just give them money that you've already made to the church. Which Hanson does, and he doesn't spy for a little bit, and then he starts up again. But the idea that a priest would say that, that basically, hey, you know, don't do that again, that's bad, but you know, it's all okay if you give the money to the church. And that, of course, you know, Bonnie was okay with

Robert Hansen LEE Russia Fox News FBI Bonnie Soviet Union America Eric China Hanson
Elon Musk Tweets Twitter Deal Is on Hold

The Dan Bongino Show

01:42 min | Last week

Elon Musk Tweets Twitter Deal Is on Hold

"I don't know Again I have no inside baseball on this It would be illegal to share if I was profiting off it and I don't I don't have any inside baseball but I can kind of process what's going on being in the tech space being an investor myself bet there's definitely some signs here that lead me in a certain direction Elon has to do if he has banks and financial firms involved in this operation to take over Twitter which he obviously does He's not paying in suitcases full of cash He's not walking up to piragua we're like hey is this suitcase kicking it under the table I mean it's a multi-billion dollar deal There's going to be financial institutions and banks involved and Elon being the richest man in the world Obviously has a legal team and a financial team that does due diligence So I'm guessing here did they go into Twitter Have Twitter open up the books here on this deal Do their financial due diligence And find out some really shady stuff Now he was asking if Elon says listen the deal is on hold until we can verify basically how many Twitter users are real That's what he's saying in the tweet He says it and he phrases it in terms of the percentage of bots but what Elon's really asking in that tweet is are these Twitter users real people Now why is that important Well outside of the obvious you want to believe on a social media platform that you're talking to people socially correct I mean there's no point being on Twitter if it has 239 million users but it really has a million users all the way up 220 plus fake accounts and then you got a couple of spam bots in

Elon Twitter Baseball
Al Jazeera Reporter Killed During Israeli Raid in West Bank

The Hugh Hewitt Show: Highly Concentrated

01:06 min | Last week

Al Jazeera Reporter Killed During Israeli Raid in West Bank

"Turn to that. Because I've tried to figure out who shot whom and the Palestinians are not the Palestinian authority is not cooperating with the idea. What is your assessment of the situation, doctor Oren? So last night I was talking to an Israeli journalist and I said, just watch your authority is going to say that they found a 5.56 bullet in the journalists. Now the Israeli forces use 5.56 palisades usually use 7.62 at the colossal cost bullet, but they also do have American a fours and M 16s. And I also think that the Palestinians wouldn't cooperate with an Israeli offer for a joint investigation. And they rejected it, even though the Biden administration asked Allison is to do it. They quickly closed the case. I heard this morning that they've already buried the body. And the passwords are making a calculation. Yeah, maybe the Biden administration will get a little aggravated, but the international community is going to come down hard on Israel. I was looking at the international press coverage, NBC had an item on it where they did an interview and the Israeli. They only talked about the greeting Palestinians and the implication is that we are guilty before we're judged. And

Biden Administration Palestinian Authority Oren Allison Israel NBC
Parents hunting for baby formula as shortage spans US

AP News Radio

00:59 sec | Last week

Parents hunting for baby formula as shortage spans US

"Parents parents parents parents are are are are hunting hunting hunting hunting for for for for baby baby baby baby formula formula formula formula supply supply supply supply disruptions disruptions disruptions disruptions have have have have led led led led to to to to a a a a nationwide nationwide nationwide nationwide shortage shortage shortage shortage infant infant infant infant formula formula formula formula is is is is getting getting getting getting harder harder harder harder to to to to find find find find analytics analytics analytics analytics firm firm firm firm data data data data simply simply simply simply says says says says forty forty forty forty percent percent percent percent of of of of big big big big box box box box stores stores stores stores are are are are out out out out of of of of stock stock stock stock up up up up from from from from thirty thirty thirty thirty one one one one percent percent percent percent in in in in mid mid mid mid April April April April it it it it started started started started with with with with spot spot spot spot shortages shortages shortages shortages during during during during the the the the pandemic pandemic pandemic pandemic then then then then in in in in February February February February abit abit abit abit the the the the company company company company that that that that makes makes makes makes similac similac similac similac recalled recalled recalled recalled several several several several major major major major brands brands brands brands and and and and shut shut shut shut down down down down a a a a large large large large plant plant plant plant in in in in Michigan Michigan Michigan Michigan after after after after federal federal federal federal officials officials officials officials concluded concluded concluded concluded for for for for babies babies babies babies suffered suffered suffered suffered bacterial bacterial bacterial bacterial infections infections infections infections after after after after consuming consuming consuming consuming formula formula formula formula from from from from the the the the facility facility facility facility two two two two of of of of the the the the infants infants infants infants died died died died Missouri Missouri Missouri Missouri mom mom mom mom Laura Laura Laura Laura Stewart Stewart Stewart Stewart tells tells tells tells the the the the AP AP AP AP she she she she has has has has had had had had used used used used four four four four different different different different brands brands brands brands in in in in the the the the past past past past month month month month for for for for her her her her ten ten ten ten month month month month old old old old daughter daughter daughter daughter who who who who normally normally normally normally gets gets gets gets a a a a type type type type of of of of formula formula formula formula made made made made for for for for sensitive sensitive sensitive sensitive stomachs stomachs stomachs stomachs on on on on Monday Monday Monday Monday White White White White House House House House spokeswoman spokeswoman spokeswoman spokeswoman Jen Jen Jen Jen Psaki Psaki Psaki Psaki said said said said the the the the food food food food and and and and drug drug drug drug administration administration administration administration is is is is working working working working on on on on the the the the issue issue issue issue what what what what they're they're they're they're trying trying trying trying to to to to do do do do and and and and the the the the shorthand shorthand shorthand shorthand of of of of it it it it is is is is increased increased increased increased supply supply supply supply but but but but working working working working with with with with a a a a range range range range of of of of manufacturers manufacturers manufacturers manufacturers for for for for now now now now experts experts experts experts are are are are urging urging urging urging parents parents parents parents to to to to contact contact contact contact food food food food banks banks banks banks or or or or doctors doctors doctors doctors offices offices offices offices if if if if they they they they can't can't can't can't find find find find formula formula formula formula and and and and cautioned cautioned cautioned cautioned against against against against watering watering watering watering down down down down the the the the formal formal formal formal or or or or using using using using online online online online recipes recipes recipes recipes I'm I'm I'm I'm Jennifer Jennifer Jennifer Jennifer king king king king

Michigan Missouri Abit Abit Abit Abit Babies Babies Babies Babies Su Laura Laura Laura Laura Stewar Ap Ap White White White White House House House House Jen Jen Jen Jen Psaki Psaki Ps Food Food Food Food And And An AP Jennifer Jennifer Jennifer Jen
Biden pushes 'ultra-MAGA' label on GOP as he defends record

AP News Radio

00:50 sec | Last week

Biden pushes 'ultra-MAGA' label on GOP as he defends record

"President president president president Biden Biden Biden Biden is is is is defending defending defending defending his his his his record record record record while while while while upping upping upping upping his his his his criticism criticism criticism criticism of of of of Republicans Republicans Republicans Republicans as as as as being being being being ultra ultra ultra ultra mag mag mag mag the the the the president president president president says says says says he he he he knows knows knows knows voters voters voters voters are are are are frustrated frustrated frustrated frustrated by by by by high high high high prices prices prices prices and and and and Washington Washington Washington Washington gridlock gridlock gridlock gridlock you you you you can can can can taste taste taste taste it it it it and and and and says says says says Republicans Republicans Republicans Republicans are are are are banking banking banking banking on on on on that that that that come come come come the the the the November November November November mid mid mid mid term term term term elections elections elections elections if if if if you're you're you're you're gonna gonna gonna gonna will will will will hand hand hand hand power power power power over over over over them them them them in in in an an an act act act so so so they they they can can can enact enact enact their their their extreme extreme extreme agenda agenda agenda he's he's he's taking taking taking aim aim aim at at at a a a plan plan plan released released released by by by one one one of of of the the the Senate's Senate's Senate's GOP GOP GOP leaders leaders leaders Rick Rick Rick Scott Scott Scott that that that would would would boost boost boost taxes taxes taxes on on on some some some of of of the the the lowest lowest lowest paid paid paid Americans Americans Americans the the the president president president argues argues argues that'll that'll that'll make make make it it it even even even harder harder harder for for for people people people to to to deal deal deal with with with inflation inflation inflation while while while his his his own own own plan plan plan will will will help help help them them them Scott's Scott's Scott's not not not buying buying buying it it it this this this present present present has has has no no no ability ability ability to to to deal deal deal with with with inflation inflation inflation and and and says says says the the the president president president should should should resign resign resign Sager Sager Sager mag mag mag on on on me me me at at at the the the White White White House House House

President President President Washington GOP Senate Rick Rick Rick Scott Scott Sco Scott's Scott Scott Sager Sager Sager White White White House House
So How Is Job Growth Really Going?

Mike Gallagher Podcast

01:11 min | 2 weeks ago

So How Is Job Growth Really Going?

"Try calling the airlines. Color rental car agency. Make a call to any place that's manned by customer service. One of the big, you know, heritage companies, AmEx, to be on hold for four hours. Aren't there still staffing shortages at banks and fast food restaurants and grocery stores all over America, but hey, according to the jobs report that came out, employers added 428,000 positions last month. Unemployment rate stays just a smidge above its 5 decade low. Like 3.5%. I like what Tucker Carlson said though about Biden's, we can't let that go and we shouldn't. When he condemns people by the millions, you should stand up and take notice. This man has no intention of unifying America. He has no intention of reaching out to the people who didn't vote for him. As proven by his smear and his attack on the maga people.

Amex Tucker Carlson America Biden
"bank of" Discussed on TIME's Top Stories

TIME's Top Stories

02:04 min | 2 weeks ago

"bank of" Discussed on TIME's Top Stories

"Whether the Central Bank should play a greater role in combating climate change. Indeed, for over a decade now, the fed has remained stuck in emergency mode, expanding its programs with each new economic shock. The root causes of this transformation, however, go much deeper than the fed itself. The problem is our broken banking system. Since 2008, Congress has failed to address the dramatic expansion of unregulated money creation by shadow banks, firms that operate like banks without complying with bank regulation. Some of the best known and biggest shadow banks like Lehman Brothers and bear Stearns collapsed or were conglomerated with chartered banks in 2008. Today, some shadow banks operate as stand-alone hedge funds or broker dealers. Others are part of banking conglomerates, yet others operate overseas under the jurisdiction of other governments. But whatever their form and wherever their location, our economy depends on the money instruments, the shadow banks issue, and these firms depend on and expect public backing from the fed when times get tough. To understand the role that shadow banks play in our economy today, it is necessary to take a step back and examine the structure of the U.S. monetary framework. Congress designed the fed to administer a network of government chartered banks. These banks, which range in size from local community banks to conglomerates like Bank of America, JPMorgan Chase and Wells Fargo are designed to create most of the money in the economy. The money they create is called deposits, although the fed issues the cash we carry around in our wallets, bank deposits not cash are what employers generally use to pay salaries. EG direct deposits, and households use to pay credit card bills. There are $18 trillion of deposits circulating today, with only around $1 trillion of cash in use domestically. The government does not run these banks itself, and outsources that work to private investors and management.

fed Central Bank Congress bear Stearns Lehman Brothers JPMorgan Chase Bank of America Wells Fargo U.S.
Next Installment of the Fact-Checker Clown Show

The Dan Bongino Show

01:59 min | 2 weeks ago

Next Installment of the Fact-Checker Clown Show

"Never Remember Jacob ray is Jakob Rees is a alleged fact checker He works for politics and nonsense outlets like that He wrote a fact check a while ago Let me read this to you This one's hilarious He wrote this fact check About Maria bartiromo where Maria bartiromo said that you know we were importing half of something half of our oil from Russia and in the fact check admitted that Maria bartiromo was right And then gauge that the fact checked that it was mostly false Jacob Rees we covered it in pretty intimate detail So Jacob ray is strikes again Again he claims to be a fact checker He emailed Christina pushaw Christina push up is a media rep for governor Ron DeSantis in Florida She is terrific She is a bulldog right So Jacob Reyes who tried to and failed to fact check Maria bartiromo and inadvertently proved what she was saying was accurate He sends an email to Christina Pusha from Ron DeSantis is always saying hello I'm writing a fact check on a quick deadline here regarding the following governor desantis claim The claim is this The student debt that is out there almost 60% of it is graduate school debt Jakob says if you'd like to provide supporting material for the claim I would need to hear back by 9 p.m. Meanwhile I'll continue my own research and interviews best Jacob brass Jakob maybe you should have started at your own pointer institute where you worked where the pointer institute wrote an article about exactly this So Christina responds back Jacob you wrote employer pointer recently published research about this topic finding that 56% of outstanding student debt is owed by households that hold graduate degrees I think 56% qualifies as almost 60 Banks Christina pushaw Can it get any worse

Maria Bartiromo Jacob Ray Ron Desantis Jakob Rees Jacob Rees Christina Pushaw Christina Jacob Reyes Christina Pusha Governor Desantis Russia Jacob Brass Jakob Pointer Institute Jakob Florida Christina Jacob Christina Pushaw
Former Acting Atty Gen Matt Whitaker on the Durham Investigation

The Doug Collins Podcast

01:39 min | 2 weeks ago

Former Acting Atty Gen Matt Whitaker on the Durham Investigation

"Now that Durham has sort of revealed how fusion GPS, how Perkins cooey, how the Clinton campaign, how it all worked and exactly kind of how they were pulling this DNS server information, somehow intercepting it from the Trump Tower and essentially they saw spam emails going from Trump org, which essentially is marketing their winery, their golf clubs and whatever. And going to alpha bank and then saying that that was a back door for communications. I mean, the whole thing is farcical. And I think those that the intelligence community knew better. And so this to me is, you know, there are several people that need to be held to account. And explain, knowing that this was created, that this rumor, these facts were created by the Democrat committee, how was this allowed to turn into a criminal investigation of the president of the United States? I got there too late and there's going to be people that hear me say that and say, well, that's just an excuse, Matt. Well, I mean, so you're running the Department of Justice and the Mueller investigation is already going and you're trying to get it landed. You know, this kind of this original sin is so far away and there's people that know it and nobody is telling you the truth. And maybe you're not asking the right questions, but my God, you know, how do you get to the right question to ask the right person when there's just so much muck to dig through?

Perkins Cooey Trump Org Alpha Bank Trump Tower Democrat Committee Durham Clinton Golf Department Of Justice Mueller United States Matt
Sgt. John Mattingly Describes the Details of the Breonna Taylor Raid

America First with Sebastian Gorka Podcast

02:10 min | 2 weeks ago

Sgt. John Mattingly Describes the Details of the Breonna Taylor Raid

"Written a book that is 12 seconds in the dark, a police officer's firsthand account of the Brianna Taylor raid. The mainstream legacy line media would say that this was a no knock warrant. You guys burst in, you started firing and this woman was killed in her sleep or in her bed. When you tell us who Kenneth walker is and who Brianna Taylor was. Okay, Kenneth walker was Brianna's current boyfriend. Now the guy that she was associated with in this narcotics ring's name is JaMarcus clever. And that's an ex-boyfriend and on and off boyfriend that she still had very close ties to. Matter of fact, just in January 2 months prior to this incident, she had bailed him out of jail for the same thing drugs and guns that used her address for that. He used it that her address for his license for his registration of his vehicle for his phone service for his bank account. So everything tied those two together. However, she was dating Kenneth walker at the time. And he happened to be at her house that night. We didn't know he was there when we were going the Intel we had was very limited, and it said that they thought she was going to be alone. Breonna Taylor was she did work in the hospital's part time. They keep saying she was a nurse. She went to nurse. She was a, she had been certified as an EMT in early or late 2015. She only did that for 5 months and was fired by the city of Louisville with a no rehire, claws in there because a lot of rumors going around. I can't justify those rumors, so I won't, I won't say when we requested the information for her file, they refused to give it because they said they didn't want to disparage her name. All the while they threw us under the bus every chance they got. We're not going to talk about certain accusations. Let's just say, was it rumors of criminality or something she did inappropriately related to possible crimes? Well, all the guys I know that are taught in the EMS, even some of the higher ups say that there was accusations of selling narcotics from the ambulance. Wow. Or maybe transport them to JaMarcus Glover. But again, those are unsubstantiated rumors and I hate because of the way I've been treated for the last two years. I hate to paint somebody in that picture.

Kenneth Walker Brianna Taylor Breonna Taylor Jamarcus Brianna Intel Louisville Jamarcus Glover
Trish Sits Down With KeyCity Capital's Charlie Dombeck

The Trish Regan Show

01:27 min | 3 weeks ago

Trish Sits Down With KeyCity Capital's Charlie Dombeck

"I'm joined. Again, on the program by my friend Charlie DOM, great to have you back, Charlie from key city capital, who, by the way, has been predicting this, thinking that we were heading in this direction, maybe not as soon as it's happening, but at Charlie, you've been warning about this for quite some time. Give us your reaction to the GDP numbers. Yeah, so in the pandemic, in the early stages, we saw GDP decline, but we expected a recover. We got the recovery. This is a little bit different. We have been talking about this event since I have been working with you on your show. It was a bit unexpected by the markets, but not unexpected by us. And I believe we are in the early stages of an economic correction, potential economic recession. And here's the thing, we have not even experienced the significant interest rate increases at the Federal Reserve is poised to enact. And 13 out of the last 16 times the Federal Reserve increased interest rates, we ended up in a recession. And now you have major banks around the world predicting potentially very severe economic recession coming forward. Yeah. I mean, that was a new report out of Deutsche Bank, just this week. A couple of weeks ago, they said maybe it would be a mild recession. Now they're talking about a major recession. I don't know how the fed manages to move rates that much higher and not actually cause an economic

Charlie Dom Charlie FED Deutsche Bank
Economists See Increasing Possibility of a Recession

The Trish Regan Show

01:11 min | 3 weeks ago

Economists See Increasing Possibility of a Recession

"Start first with this kind of schizophrenic market. I mean, I think that's the best way to describe it, right? This is like a form of schizophrenia here because the markets are suddenly higher despite a lot of the bearish signals that we've seen and both from tech companies and their earnings. You've seen bank reports, Deutsche Bank, recent one this week coming out warning of a major recession. We got the GDP report today, showing that the U.S. economy declined by 1.4%. And as I said, you get two quarters of that, and that is the definition of recession, two quarters of consecutive losses in growth, negative growth. But people seem encouraged and part of that reason may be maybe that they're thinking, well, the fed really can't do what it wants to do, right? I mean, the fed is not really going to be able to raise rates the way perhaps it had hoped in light of the negative numbers on GDP. It's also possible that they're looking at some of the consumer spending numbers and saying, well, you know, consumers seem to be holding up, okay? So maybe we'll get through this. I will say this, if Jerome Powell can pull this off, if we can avoid a recession, then he will go down as the greatest fed magician in history.

Schizophrenia Deutsche Bank FED U.S. Jerome Powell
How Coign is Fighting Woke Banks With Founder Rob Collins

The Charlie Kirk Show

01:48 min | 3 weeks ago

How Coign is Fighting Woke Banks With Founder Rob Collins

"And with us right now is the founder of this effort, rob Collins, rob, welcome to the Charlie Kirk show. Hey, Charlie. Glad to be on here. Want to give a shout out to my nephew, who's a member of one of your Georgia chapters at turning point. I was recently with him and he had a bunch of stickers on his computer and he's loud and proud and I love that I'm glad to be on the show. That's awesome. Well, congratulations on the launch. You guys are now public. So talk about the need. And there's a huge market out there to have kind of a non woke credit card. Yeah, I think stems from the fact that ten times a week, 40 times a month, 480 times a year per credit card, and the average American has four credit cards. Your commerce is being used as a weapon against you. And it's not reflecting your values. And I just think there's an opportunity where the largest conservatives are the largest ideological lock in America, yet we don't work together. We don't have a place where we can have a voice. And this is just an opportunity for us all to come together. Move our commerce through one vehicle. And not only increase our voice, but really, really bundle up millions of dollars, and hopefully be trillions, billions of dollars of commerce, and invest in conservative charities. We have a real challenge that people who give aren't listened to by corporate America, people who use their products, aren't listened to by corporate America. And the idea that we can have a credit card that is catered for conservatives but also invest in conservative charity is a huge opportunity and a huge advantage. I believe in the future to reassert our voice into corporate America. Yeah, so it's coin dot com.

Rob Collins Charlie Kirk ROB Charlie Georgia America
How Did US Elections Become So Fraudulent? Dinesh D'Souza Explains

The Eric Metaxas Show

02:08 min | 3 weeks ago

How Did US Elections Become So Fraudulent? Dinesh D'Souza Explains

"Though the level of criminal activity, it is nothing less than astonishing. When I saw the film and I have the privilege of being in the film because with me, a number of Salem radio hosts were in the film commenting on some of the information that we saw. But I just have to tell you, it is the level of crime that's astonishing to me. Now, this is not just a couple of people. This is something that was thoroughly planned involved thousands of people, thousands of people. How is it possible that we could live in a country where something like this has happened? I mean, the fact that you have it, you have the videotapes. You have all of the evidence. This is not conjecture. I wish it were. Part of me wishes it were, you know, and just an idea. But there's no question it happened. But my question to you is, how is it possible that this level of criminal activity fraud with the U.S. election could have happened in our lifetimes? How do we get to this place? I think I can answer that in two different levels. One is that a lot of the let's call institutional guardrails of our society have come crumbling down. We can't trust the FBI to investigate. We find secretaries of state who colluded in, let's just say, you know, reducing the signature requirements of the bank, which actually made it much easier to forge checks at the bank. So what you have is a whole political party, the Democrats who have traditionally, by the way, have been the party of voter fraud. They've been doing voter fraud since tammany hall in the 19th century. I think what makes the 2020 election different is there was a massive ramping up of the mail in ballots. And so this absentee ballot fraud, which is the most common type of fraud, normally affected two or 3% of an election because it was a small number of votes, but now you suddenly had large numbers of votes being cast by mail, the opportunity for ramping up the fraud became huge, and the Democrats couldn't avoid succumbing to the temptation.

Salem FBI Tammany Hall U.S.
Deutsche Bank Warns of a Looming Major Recession

The Trish Regan Show

02:30 min | 3 weeks ago

Deutsche Bank Warns of a Looming Major Recession

"Right, I want to turn to another big one we're covering Deutsche Bank coming out and saying that there could be a major recession. I told you that. Probably a year ago. I actually have been very, very concerned about inflation as you well know, since July of 2020, I have echoed those concerns over and over and over and over again on this show, urging you course to be prepared for it, which is why we're going to talk about gold in just a moment. But I recently came out and said I did expect a recession, 85% chance anyway of a recession, because I don't know how the fed pulls this one off. I mean, they got to get a rabbit out of the hat somehow, you are telling me that you were going to stop printing all this money. You were going to raise interest rates, which makes everything more expensive, right? So businesses don't want to invest as much. People don't want to go out necessarily and buy that new house because it's going to cost a whole lot more for that new house because interest rates are higher. When you cause the price of money effectively to go up, it has a dampening effect on the economy. Now, best case scenario, the fed is watching this as they go along, right? They always wanted two to 3% inflation. I've always wondered why you even need a 3%, frankly. But I think the idea is you want a little bit, right? Just to incentivize people to be in markets and to do things in the here and now as opposed to waiting 5 years or ten years because there's the threat, the prices will go up. But somehow, this all got off track. They did what they needed to do in March 2020. And then they went crazy. And they just kept spending and spending and printing and printing to the tune of a $120 billion a month that they were buying of mortgage backed securities and treasuries in order to artificially suppress interest rates and keep the money spigot open. Well, now the chickens are coming home to roost, so to speak. And what a bad time. I mean, if it were normal time, maybe they could pull this off although I'd still argue it would be pretty challenging. But this is not a normal time. You get a whole bunch of other things going on. We are looking at worldwide inflation. We've got massive problems on the energy front in terms of what energy is going to cost us and our European allies. I mean, this is what you call one big old giant mess. And I would also add the historically, the fed has never been able to pull this off. Something Deutsche Bank, by the way, noticed in its notes. They said that history shows the fed has quote never been able to correct. Even smaller overshoots of inflation and employment quote without pushing the economy into a significant recession. I mean, I've looked back over the last 80 years. They've never been able to do it.

FED Deutsche Bank
"bank of" Discussed on Code Story

Code Story

08:31 min | Last month

"bank of" Discussed on Code Story

"Slash code story. This episode is sponsored by verb data. Dashboards need to be high quality, easy to create and simple. Yet developing them can tend to be the complete opposite. The team at verb wants to change that. Verb speeds up the initial dashboard building process and limits the ongoing maintenance required, so development teams can stay focused on their core product. With verb, you control how and when your data is ingested. You can build models across data sources. You can segment and transform your data all while knowing that the product utilizes encryption, secure storage, and isolates your data away from other customers. If you want to get a dashboard up and running in a few days, or replace an existing and slow dashboard, get started with verb now. Learn more about the product at verb data dot com slash code story. That's V ERB data dot com slash code story. So okay, you got your MVP. You mentioned earlier. We sort of changed how we make decisions. Now, tell me about that. Tell me about how you progress the product and matured it and built your road map and specifically in terms of how do you decide what the next most important thing to build is. What we realized is that with the very large customers and partners, Bank of America being one of them, like a very large bank, the requirements and non functional requirements that we had for architectural design in the way that we shipped products and the way that we wrote code needed to pretty profoundly evolve. There were requirements for things like security and compliance that as a business we had already obviously worked on because we need to take that stuff seriously from the beginning, but it needed to have a new level of focus. And it had a new level of investment. And so as we've gone down that journey, we're breaking out services from our kind of rails monolith to more easily enable enable us to meet the very high levels of resiliency and reliability and security and compliance that are necessary for a payment network. What we've done is not try to do a kind of boil the world. We're going to stop everything that we need to be able to that we've done in order to be able to kind of completely re architecture the platform. But to take a much more pragmatic approach and say, actually, where are the opportunities that we have as we build new products as we broaden your features as we do new things to be able to build a more resilient, reliable, secure, scalable architecture. And so classical example of this is moving from Heroku to GCP and actually enabling us to get a much wider set of knobs to turn in order for us to be able to meet the kind of SLOs and SLAs that are an organization where Bank of America would expect. That has implications for the way we think about architecture, right? We think about security in a new way. We do bring your own keys and HSMs in a way that two or three years ago in the business wouldn't have been something that was higher priority for us. That journey has been an incremental one, but the speed at which we've been able to achieve it is something I'm actually very proud of the team for doing. As the teams grow and as the engineering teams, 35, 40 people now, we can actually have the capacity and the bandwidth to be able to make somebody really deep changes to our platform in a really kind of safe, reliable, secure and scalable way. Let's switch to team then, so how did you build your team? And what did you look for in those people to indicate that they were the winning horses to join you? I think that the people journey is broadly analogous to the technology journey in many ways. In that the kind of experience, the kind of culture to optimize for. At an early stage, pre seed and seed stage business is very different to that of a post a stage, a B round and gross stage business. And ultimately, that journey is one of generalism to specialism. Early in the art in our journey, hiring people onto the team who were technology generalists, who could work on front end user experience who could build APIs, who could build backend services who could help us with ops. So the ultimately the groups of people that we could put together to work on things could be independent, right? We could work in teams of one and be able to do things in parallel and to do things really quickly and have built a culture that was kind of an ownership culture. Which was to say, I'm going to take this on and I can push this thing through. And I can have all of the context of this thing in my head at one point. And I can take a bunch of it throughout the process. Now, obviously, that's still important to us, but as the complexity of things that we've done has grown, as the number of things we do concurrently has grown, it's just not possible for one human to be able to maintain that level of information in their brain. It's not something humans are very good at. And so that journey of specialism has kind of come in where we've hired people with more specific skills, right? Rather than sort of generalists are building a team of SREs is a great example of this. Hiring platform engineers whose job is to actually build tooling and libraries and an ecosystem of developer ecosystem internally to enable other teams, whereas before that might have been something that one of our more generalist engineers would take on day to day. And so that culture of generalism to specialism is a journey that the all engineering teams take, but has been one that's been particularly valuable about because it's enabled us to, as I said, go on that technology journey of kind of something that was massively optimized for one use case of iteration, trying to find product market fit to something where we've now found product market fit and we need to go super deep as a business on the technology that we build. This episode is sponsored by web app IO. Web app IO helps developers build world changing web applications. Faster than ever before. Add things like product screenshots, cypress test recordings, technical SEO health, and even full stack review environments to get feedback without being blocked by staging servers. Web app IO takes care of speeding up end to end test, disposable staging environments, and continuous integration, all in one place. You can focus on shipping website changes instead of managing your DevOps. Try it for free at web app IO slash code story. That's WEB APP dot IO slash code story. This message is brought to you by immediate. Did you know that financial stress is impacting 9 out of ten of your employees performance? This means that the quality of your employees work is being compromised. And essentially, robbing your bottom line. That's where immediate comes in. Immediate helps businesses recruit, retain and engage employees in a rapidly changing job market by providing on demand pay solutions. The immediate solution provides employees with on demand access to their earned but not yet paid wages. This is accomplished through simple integrations with the employer's current payroll and time tracking providers at no cost to the employer. The media is the premier on demand pay solution designed to improve the quality of life and financial well-being of employees. Allow employees responsible access to their pay when they need it most. Find out more about immediate at join immediate dot com slash code story. Let's flip the scalability and this will be interesting. Did you build this to scale efficiently from day one or have you been fighting this as you've grown and gained traction? We've tried to do the impossible thing and try to do both. It is an impossible task, but our goal has always been just in time optimization. To use a compiler, what we didn't want to do is because we're a payment network, right? Like there are customers have a very low tolerance for a resiliency and reliability issues. One of the most amazing things that people like feature and Mastercard have done over their lifetimes is set the bar so high. So as.

Bank of America Mastercard
"bank of" Discussed on Code Story

Code Story

07:52 min | Last month

"bank of" Discussed on Code Story

"Product utilizes encryption, secure storage, and isolates your data away from other customers. If you want to get a dashboard up and running in a few days, or replace an existing and slow dashboard, get started with verb now. Learn more about the product at verb data dot com slash code story. That's V ERB data dot com slash code story. So okay, you got your MVP. You mentioned earlier. We sort of changed how we make decisions. Now, tell me about that. Tell me about how you progress the product and matured it and built your road map and specifically in terms of how do you decide what the next most important thing to build is. What we realized is that with the very large customers and partners, Bank of America being one of them, like a very large bank, the requirements and non functional requirements that we had for architectural design in the way that we shipped products and the way that we wrote code needed to pretty profoundly evolve. There were requirements for things like security and compliance that as a business we had already obviously worked on because we need to take that stuff seriously from the beginning, but it needed to have a new level of focus. And it had a new level of investment. And so as we've gone down that journey, we're breaking out services from our kind of rails monolith to more easily enable enable us to meet the very high levels of resiliency and reliability and security and compliance that are necessary for a payment network. What we've done is not try to do a kind of boil the world. We're going to stop everything that we need to be able to that we've done in order to be able to kind of completely re architecture the platform. But to take a much more pragmatic approach and say, actually, where are the opportunities that we have as we build new products as we broaden your features as we do new things to be able to build a more resilient, reliable, secure, scalable architecture. And so classical example of this is moving from Heroku to GCP and actually enabling us to get a much wider set of knobs to turn in order for us to be able to meet the kind of SLOs and SLAs that are an organization where Bank of America would expect. That has implications for the way we think about architecture, right? We think about security in a new way. We do bring your own keys and HSMs in a way that two or three years ago in the business wouldn't have been something that was higher priority for us. That journey has been an incremental one, but the speed at which we've been able to achieve it is something I'm actually very proud of the team for doing. As the teams grow and as the engineering teams, 35, 40 people now, we can actually have the capacity and the bandwidth to be able to make somebody really deep changes to our platform in a really kind of safe, reliable, secure and scalable way. Let's switch to team then, so how did you build your team? And what did you look for in those people to indicate that they were the winning horses to join you? I think that the people journey is broadly analogous to the technology journey in many ways. In that the kind of experience, the kind of culture to optimize for. At an early stage, pre seed and seed stage business is very different to that of a post a stage, a B round and gross stage business. And ultimately, that journey is one of generalism to specialism. Early in the art in our journey, hiring people onto the team who were technology generalists, who could work on front end user experience who could build APIs, who could build backend services who could help us with ops. So the ultimately the groups of people that we could put together to work on things could be independent, right? We could work in teams of one and be able to do things in parallel and to do things really quickly and have built a culture that was kind of an ownership culture. Which was to say, I'm going to take this on and I can push this thing through. And I can have all of the context of this thing in my head at one point. And I can take a bunch of it throughout the process. Now, obviously, that's still important to us, but as the complexity of things that we've done has grown, as the number of things we do concurrently has grown, it's just not possible for one human to be able to maintain that level of information in their brain. It's not something humans are very good at. And so that journey of specialism has kind of come in where we've hired people with more specific skills, right? Rather than sort of generalists are building a team of SREs is a great example of this. Hiring platform engineers whose job is to actually build tooling and libraries and an ecosystem of developer ecosystem internally to enable other teams, whereas before that might have been something that one of our more generalist engineers would take on day to day. And so that culture of generalism to specialism is a journey that the all engineering teams take, but has been one that's been particularly valuable about because it's enabled us to, as I said, go on that technology journey of kind of something that was massively optimized for one use case of iteration, trying to find product market fit to something where we've now found product market fit and we need to go super deep as a business on the technology that we build. This episode is sponsored by web app IO. Web app IO helps developers build world changing web applications. Faster than ever before. Add things like product screenshots, cypress test recordings, technical SEO health, and even full stack review environments to get feedback without being blocked by staging servers. Web app IO takes care of speeding up end to end test, disposable staging environments, and continuous integration, all in one place. You can focus on shipping website changes instead of managing your DevOps. Try it for free at web app IO slash code story. That's WEB APP dot IO slash code story. This message is brought to you by immediate. Did you know that financial stress is impacting 9 out of ten of your employees performance? This means that the quality of your employees work is being compromised. And essentially, robbing your bottom line. That's where immediate comes in. Immediate helps businesses recruit, retain and engage employees in a rapidly changing job market by providing on demand pay solutions. The immediate solution provides employees with on demand access to their earned but not yet paid wages. This is accomplished through simple integrations with the employer's current payroll and time tracking providers at no cost to the employer. The media is the premier on demand pay solution designed to improve the quality of life and financial well-being of employees. Allow employees responsible access to their pay when they need it most. Find out more about immediate at join immediate dot com slash code story. Let's flip the scalability and this will be interesting. Did you build this to scale efficiently from day one or have you been fighting this as you've grown and gained traction? We've tried to do the impossible thing and try to do both. It is an impossible task, but our goal has always been just in time optimization. To use a compiler, what we didn't want to do is because we're a payment network, right? Like there are customers have a very low tolerance for a resiliency and reliability issues..

Bank of America
"bank of" Discussed on Code Story

Code Story

08:26 min | Last month

"bank of" Discussed on Code Story

"Heard that right. Without passwords. The mission of the company is to eliminate friction on the Internet, while also improving security. Stitch is building tools that make it easier, faster, and safer to build authentication into your apps and websites. Stitch customers have experienced significant increase in user sign up conversion, post implementation, while reducing deploy and test time for months to hours. Have a look at their easy to use APIs today. At stitch dot com slash code story. That's STI TCH dot com slash code story. This episode is sponsored by verb data. Dashboards need to be high quality, easy to create and simple. Yet developing them can tend to be the complete opposite. The team at verb wants to change that. Verb speeds up the initial dashboard building process and limits the ongoing maintenance required, so development teams can stay focused on their core product. With verb, you control how and when your data is ingested. You can build models across data sources. You can segment and transform your data all while knowing that the product utilizes encryption, secure storage, and isolates your data away from other customers. If you want to get a dashboard up and running in a few days, or replace an existing and slow dashboard, get started with verb now. Learn more about the product at verb data dot com slash code story. That's V ERB data dot com slash code story. So okay, you got your MVP. You mentioned earlier. We sort of changed how we make decisions. Now, tell me about that. Tell me about how you progress the product and matured it and built your road map and specifically in terms of how do you decide what the next most important thing to build is. What we realized is that with the very large customers and partners, Bank of America being one of them, like a very large bank, the requirements and non functional requirements that we had for architectural design in the way that we shipped products and the way that we wrote code needed to pretty profoundly evolve. There were requirements for things like security and compliance that as a business we had already obviously worked on because we need to take that stuff seriously from the beginning, but it needed to have a new level of focus. And it had a new level of investment. And so as we've gone down that journey, we're breaking out services from our kind of rails monolith to more easily enable enable us to meet the very high levels of resiliency and reliability and security and compliance that are necessary for a payment network. What we've done is not try to do a kind of boil the world. We're going to stop everything that we need to be able to that we've done in order to be able to kind of completely re architecture the platform. But to take a much more pragmatic approach and say, actually, where are the opportunities that we have as we build new products as we broaden your features as we do new things to be able to build a more resilient, reliable, secure, scalable architecture. And so classical example of this is moving from Heroku to GCP and actually enabling us to get a much wider set of knobs to turn in order for us to be able to meet the kind of SLOs and SLAs that are an organization where Bank of America would expect. That has implications for the way we think about architecture, right? We think about security in a new way. We do bring your own keys and HSMs in a way that two or three years ago in the business wouldn't have been something that was higher priority for us. That journey has been an incremental one, but the speed at which we've been able to achieve it is something I'm actually very proud of the team for doing. As the teams grow and as the engineering teams, 35, 40 people now, we can actually have the capacity and the bandwidth to be able to make somebody really deep changes to our platform in a really kind of safe, reliable, secure and scalable way. Let's switch to team then, so how did you build your team? And what did you look for in those people to indicate that they were the winning horses to join you? I think that the people journey is broadly analogous to the technology journey in many ways. In that the kind of experience, the kind of culture to optimize for. At an early stage, pre seed and seed stage business is very different to that of a post a stage, a B round and gross stage business. And ultimately, that journey is one of generalism to specialism. Early in the art in our journey, hiring people onto the team who were technology generalists, who could work on front end user experience who could build APIs, who could build backend services who could help us with ops. So the ultimately the groups of people that we could put together to work on things could be independent, right? We could work in teams of one and be able to do things in parallel and to do things really quickly and have built a culture that was kind of an ownership culture. Which was to say, I'm going to take this on and I can push this thing through. And I can have all of the context of this thing in my head at one point. And I can take a bunch of it throughout the process. Now, obviously, that's still important to us, but as the complexity of things that we've done has grown, as the number of things we do concurrently has grown, it's just not possible for one human to be able to maintain that level of information in their brain. It's not something humans are very good at. And so that journey of specialism has kind of come in where we've hired people with more specific skills, right? Rather than sort of generalists are building a team of SREs is a great example of this. Hiring platform engineers whose job is to actually build tooling and libraries and an ecosystem of developer ecosystem internally to enable other teams, whereas before that might have been something that one of our more generalist engineers would take on day to day. And so that culture of generalism to specialism is a journey that the all engineering teams take, but has been one that's been particularly valuable about because it's enabled us to, as I said, go on that technology journey of kind of something that was massively optimized for one use case of iteration, trying to find product market fit to something where we've now found product market fit and we need to go super deep as a business on the technology that we build. This episode is sponsored by web app IO. Web app IO helps developers build world changing web applications. Faster than ever before. Add things like product screenshots, cypress test recordings, technical SEO health, and even full stack review environments to get feedback without being blocked by staging servers. Web app IO takes care of speeding up end to end test, disposable staging environments, and continuous integration, all in one place. You can focus on shipping website changes instead of managing your DevOps. Try it for free at web app IO slash code story. That's WEB APP dot IO slash code story. This message is brought to you by immediate. Did you know that financial stress is impacting 9 out of ten of your employees performance? This means that the quality of your employees work is being compromised. And essentially, robbing your bottom line. That's where immediate comes in. Immediate helps businesses recruit, retain and engage employees in a rapidly changing job market by providing on demand pay solutions. The immediate solution provides employees with on demand access to their earned but not yet paid wages. This is accomplished through simple integrations with the employer's current payroll and time tracking providers at no cost to the employer. The media is the premier on demand pay solution designed to improve the quality of life and financial well-being of employees. Allow employees responsible access to their pay when they need it most. Find out more about immediate at join immediate dot com slash code story..

Bank of America
"bank of" Discussed on CNBC's Fast Money

CNBC's Fast Money

02:44 min | 4 months ago

"bank of" Discussed on CNBC's Fast Money

"So we're not necessarily looking at PE. We're looking at what is the price versus the book? Well, you look at something like JPMorgan, it's more than two times book. That's expensive. Then all of a sudden you look over at Wells Fargo, which has already been ripping and outperforming through past JPMorgan anyway, and you're looking at basically about one and a half times book. Maybe even a little less than that. So I think you have to look at each one of these names in a different manner to see where they are, which one's a little bit more expensive than the other. Also, when you heard today and you looked at the guidance for JPMorgan, that didn't look all that great. Meanwhile, you look at Wells Fargo, that did. So I think there are differentiations between a lot of these different banks. And I think, you know, for instance, I own Bank of America, I also own U.S. bank a little bit of a smaller bank. I had Wells Fargo. We had some huge call activity just two days ago to go Tyler where they were buying the February 57 and a half calls. They bought 28,000 of those calls. And boy did they work almost immediately by today with the big run up to new 52 week highs. Those calls nearly doubled on the day. So it gives you a little bit of an idea. So that was the rental side of it. Wells Fargo, I'm actually out of that trade, but I still think I'm very confident in Bank of America. I'm very confident in some of these other banks as well. U.S. bank as one of those names as well. But I do think there are some regionals that have a lot of room to run to the upside still. Yeah, and so I don't know whether people can see the chart that we have over there to your point. Wells Fargo up 21% so far this year city ten Bank of America 7. Morgan Stanley and JPMorgan just basically flat. Steve, I'll come back to you for a final word here since the others have chimed in. Any final reactions or thoughts? Yeah, so Pete's exactly right. And the U.S. bank I was trying to rifle through all those charts, Pete speaks fast, runs fast, lifts a lot of weights, and he throws things around a lot. But he's a gentleman and he knows the stock market extremely well. So I was trying to rip through these charts as he was saying it. I think the best chart that he mentioned was U.S. bank. U.S. bank had what looked to be a double top and is actually breaking higher from there. Wells Fargo for me, too overextended. And I agree with everything handsome Pete said, but the problem I have is that when you look at this and you see on a relative strength index, you don't even have to pull up an RSI on this. I don't care what it is. When I see a nosebleed chart like that, it's going to warrant a lot of selling. And I don't disagree with any of the fundamentals pizza. All right, folks we're going to move on now. I can't take my eye off the artwork over Nadine's left shoulder. I love that painting of that little girl there. That's lovely. All right, meanwhile, the S&P, it's fun when we get to see all houses. Isn't it? It's great. The S&P has been climbing a perfect slope over the last year and a half, but the chart master warns perfection never lasts..

Wells Fargo JPMorgan Bank of America U.S. Pete Tyler Morgan Stanley Steve Nadine S
"bank of" Discussed on KOMO

KOMO

01:30 min | 5 months ago

"bank of" Discussed on KOMO

"Next morning you've got your tax records your credit reports your credit cards your bank account login you've got everything else across the board That's one of the major problems So you're not up against some teenager eating froot loops so sitting in his house and bayonet Jersey You're up against complicated sophisticated algorithms that can run what millions of password combinations every minute or so Absolutely So someone gets your credentials Now they don't manually input those credentials into Bank of America and Chase and all these other financial institutions No it's an automated program I simply load up the credentials They go off and do whatever they're going to do Meanwhile that program is scouring the Internet trying to enter into those credentials into every single website it possibly can And it comes back with a list saying hey this is what you've got access to That's the way cybercrime operates It's very efficient It's very fast and speaking of tools let's not forget the phone is still the number one way scammers steal money and personal information whether it starts with a robocall or a live human being for the tech support scam for the Medicare scam for your account is being shut down for the car warranty that you don't need to renew The phone is still a great tool one on one for a con artist to Kanye It is the best tool be best If you could actually get someone on the phone and you're a good social engineer the idea is to get that person to not act rationally You want them to give a knee jerk reaction to react emotionally to whatever you're saying and get them to give you the cash or your data your information access to computer any number of things like that So the phone is the best tool to commit crime That spread Johnson a former cyber thief who now runs a.

Bank of America Johnson
"bank of" Discussed on Made By Women

Made By Women

07:01 min | 7 months ago

"bank of" Discussed on Made By Women

"Past month or so. You've been given many additional responsibilities at bank of america and you are now one of the more senior women one of the most. I should say senior women in banking. Can you tell us a little bit about how you got started. Pylon you've been at the bank and whether this was a career you envisioned for yourself or that's sad. That's a great question kim. I started with the bank twenty five years ago and began my career as a financial adviser helping clients plan for retirement education planning You know all different sorts of of items that we help by with every day. And i did that for ten years and really enjoyed it. And i moved into a leadership role within wealth management And from there have moved to different cities across this country to work with clients to work with our teammates across the country and five years ago was asked to lead small business. And did i think this was something i was ever going to do. No i had no experience really other than helping clients that were small business owners with their personal finances and you know from five years ago to today every day. I get up so excited because entrepreneurs are the most spirited positive can-do group and really the backbone of our economy so they inspire me every day And yes recently. I also had added responsibility for specialty lending so our mortgage Lending for our wealth management clients as well as banking for wealth management and our auto lending business so it is certainly a great honor and privilege to be able to work with more clients and more teammates across our company. So you're not busy at all. Not at all and i have two kids to so i'm a mom i and it says so. It is interesting. And so i understand As we talk about women and women business owners and competing priorities. I i'm right there will. We aren't so glad that five years ago the bank made that decision because you have been a huge supporter bore small business owners but particularly for women owned businesses. so As you well know a significant number of small business owners have been hit really hard by the pandemic and women owned businesses especially bore the brunt of that with childcare issues homeschooling changes in consumer behavior. That had a negative impact on their businesses but bank of america recently did a survey of women small business owners and found some good news in that. What did you learn well. Women business owners are optimistic and most of them reported to us that they felt that their business was in good shape and they've adjusted to the pandemic conditions by giving employees more flexibility. So these are the conversations were having with our business clients and we know how challenging it has been and there has been so many competing priorities for all of us and as you mentioned especially women we do the brunt of child rearing and Wearing multiple hats. If you're a business owner you're wearing even more hat. So it is very encouraging what we did hear from our clients during this Survey was amazing. How resilient women on businesses were we were seeing so many businesses pivot in all different interesting ways and i think. Hopefully we're gonna come out stronger. But what is the bank because it's important to focus on women owned businesses. I mean how do you feel. Women owned businesses. Tie to the economy. Well they're just everything. I mean when i think about women and the importance of women entrepreneurs in our country i mean. They are fundamental to driving a strong economy and we also know that women invest into their local communities and they are opening businesses faster that are male counterparts. So it's so important to us to understand at bank of america. How women business owners are feeling. How can we help them. And we're proud that over forty percent of our business clients are women and so it is very important to us actually a pretty staggering number. And i'm happy to hear you talk about what some call the double dividend. Because i don't think most of us recognize that women. Women owned businesses not only tribe economic growth because of their own businesses. Which as you said. They're starting at a faster clip than men. But they're also reinvesting back into their communities secreting almost doubled dividend one. We support women owned. So that's that's a really great point and you've invested. I know the bank has invested more than two billion dollars in cdfi's or she community development financial institutions. I think most people don't understand or just don't have familiarity with what a cdfi is And how kind of critical about is to our economy for small businesses for those. Who don't know. could you tell us a bit about what. Cdfi's are and why they're so important in supporting women businesses. Well they're known as local loan centers and there's typically. They're not for profit providers of affordable responsible lending and technical assistance and so we feel at bank of america. It is so important to serve clients of all types and we especially want to make sure that we are serving in low income and underserved fines and community. So when you think about cdfi's we partner with over two hundred fifty across the country and we have invested over two billion dollars to provide lending into communities. Where perhaps they wouldn't get ordinary lending and so it is important that were there And we wanna sure that we're providing capital in areas where there's opportunity gaps and. We do know that. Almost sixty percent of women entrepreneurs told us in our survey that they don't have the same access to capital as their male counterparts. And so that is a troubling statistic as we think about rowing business. accumulating wealth and really Providing that growth in the local economies access to capitalist key. And i think. I'm hoping that the women owned businesses listening to this show look into their local. Cdfi's and we'll talk about other sources of capital in a few minutes. But the other thing. That that i know you found and that i'm excited to partner with you. On is the importance of education business education in particular a lot of people Kind of our great actually running their businesses great ideas. They've got the kind of business savvy but they might lack the formal education. That can just help them. Along a little bit faster. And so i know In two thousand eighteen we.

bank of america cdfi kim rowing
"bank of" Discussed on The Content Strategy Podcast

The Content Strategy Podcast

02:38 min | 9 months ago

"bank of" Discussed on The Content Strategy Podcast

"And produce and take care of content and this topic has really become a little bit of like a passion of yours and can you. Can you talk to me a little bit about how you see content ops. What is that and the relationship between that and content strategy right love that phrase used there about good practices. I think the the word governance in and of itself is probably always scared me a little bit at. I think scares a lot of people because it just implies top-down policing right. Yeah yeah i i. Every time i hear governance that picture my head like this giant bag of rules. That just goes thunk on the desk in front and and i remember reading probably about the same as a concept twenty fourteen. I remember reading a digital cash. Lisa welshman's book about that time too and that just blew my mind. I really am a fan of good good practices. Just you know what are the. I'm a big fan. I think that's what i like about content a lot. It's it's a big gray space there you know. There's no there's no extremes the content it's all messy and it's all ambiguous and you have to get comfortable with that ambiguity and just navigating that gray space and and and i think what i like about my favorite part governance it's sort of setting those boundaries. What's the frame we can set up. That people can work within. It's it's the last organization. I work as the color freedom within a frame. That's my approach to governance operations repeatable process. What are the good practices. The things that we've tried that we know work. Let's do more of those things that we know that don't work. Let's stop doing those things and is that something that is coming from centralized ownership. Because i know that that can often be as struggle as that teams will introduce here are best practices here are guidelines. I think we would all sort of play from the same content. Playbook we could create really cohesive user experiences across all these touch points. How tell me a little bit about how that works specifically at the bank of canada actually back over and tell me talk to me a little bit about the specifics of your role at the bank of canada right. Yes so we we really are really are half-and-half at least with within my team. So when i started the bank for almost five years ago now i was hired as the banks web content strategist on the web team and over time. I thought it made sense to to sort of fold both the publishing operations and and i really wanted to get into more..

Lisa welshman bank of canada
"bank of" Discussed on The Breakdown with NLW

The Breakdown with NLW

05:31 min | 9 months ago

"bank of" Discussed on The Breakdown with NLW

"Chokepoint. One point eventually came to an end when a number of policy makers realized what the doj was doing and raised concerns missouri. Representative blaine luca meyer. A republican led the charge to shame the doj into ending the practice in two thousand seventeen but the damage was done. Chokepoint did not disappear rather it was simply internalized by banks and payment processors the message to payment processors while implicit remains clear support politically exposed businesses and face a loss of banking one must merely observed. Today how wary financial services companies are of servicing politically exposed individuals or firms. Examples abound in two thousand eighteen bank of america and citigroup abruptly platform firearms manufacturers twelve democratic senators promptly followed that move by demanding that eleven other major banks follow suit not satisfied with merely d platforming firearms companies. Bank of america has begun voluntarily informing the federal government about its customers. Gun related activity all without getting subpoenas firebrand progressive alexandria ocasio cortes has indicated her willingness to employ her seat on the house financial services committee to prosecute social issues including private prisons in response to a pressure campaign. Numerous banks withdrew their support. For the dakota access pipeline. And this tone extends to the very top while the brian brooks lead office of the comptroller of the currency under then president. Donald trump pass a fair access rule designed to prohibit chokepoint style selective platforming by banks. The biden promptly rolled back the rule. This belief that financial services should be weaponized for policy. Outcomes explains enthusiasm for central bank digital currencies among progressives who worryingly extol the virtues of chinese social credit scheme with american characteristics chokepoint was just an appetizer. This dismal future portends a world where. It's not just alex jones. Nick fuentes who are kicked off the financial internet but any conservative expressing subversive thoughts online. Naturally the would be architects of these schemes did not devote much to the risk of a holy politicized payment system falling into the hands of their political opponents. Trump was not particularly interested in deputising financial infrastructure for political adventurism but his successor biden certainly is liberals decrying. The only fans ban should consider it a mere taste of what a holy politicize financial sector might look like had trump and more competent. He might have sought to use such underhanded tactics to d platform abortion clinics progressive nonprofits educational institutions peddling critical race theory teachers unions or other causes. He politically objected to it. Just so happens that the instruments of state power in this context have largely been wielded against conservative so far but that may not last forever. If there's a silver lining in the only fans episode it's a reminder that it can happen to you to the only plans d platforming is an exception that for once. It was a liberal. 'cause that was threatened with bank exclusion the current anti sex worker agenda despite a solidly. Blue administration is simply a reminder that censorship wants normalized always strays from its initial confines. If cho- pointing knowledge it's unacknowledged revival under biden the progressives who by and large support selective financial exclusion just witnessed the jubilation when writers platforms like gavin parlor. Have their payment. Relationship stripped should consider what a similar program might look like under a president. Cotton descent or holly. The bottom line is that platforms like only fans shouldn't be marginalized via an opaque process involving extralegal guidance emanating from unaccountable bureaucrats regulators. We're still nominally. A nation of laws and constitutional constraints instead of petitioning the state to ban ones ideological enemies from financial infrastructure and being taken by surprise when the political pendulum swings back. We ought to embrace neutral apolitical financial infrastructure. Only fans is a potent reminder. You simply never know when you'll be on the receiving end of the stick all right back ten. L. w. i've now talked about the only fans dust up enough at this point that you probably have a pretty good sense of my feelings about it and instead what i want to hone in on about knicks piece which is the thing that i find myself so fiercely agreeing with is the sort of ends justify the means thinking that people always always always throat history fall into when it comes to politics the point of laws of democratic process of all of these things that have allowed america to become what it is and to last for so long are they apply equally when your people are in power or when the other folks are in power when we allow these sort of extra political means of making policy by default to become the norm. We risk normalizing the very thing that might undermine the system as a whole. I believe that progressives even those who wished to fight as hard as they can the second amendment i think nick puts it perfectly under obama. It was guns under someone else. It's gonna be something else and something else that might really matter to progressives this comes back to why the entire affair around the infrastructure bill has been so frustrating to me by passing that law unamended. They've effectively ceded the authority that was given to them by their electorates to a group of people who weren't elected but instead were appointed there will inevitably be some of that in the way that things are actually run in the american democratic process. But that's not something we should strive for. We want laws to be written by those who can be held accountable for the laws that they right. Not those who can just give. Anonymous quotes two papers. And tell us that. Everything's gonna be fine and just trust us but for now. I hope this was an interesting look into a part of the weaponization of financial history that we don't talk about too much and i hope you're having a great weekend until tomorrow guys be safe and take care of each other piece..

doj Representative blaine luca mey biden alexandria ocasio cortes house financial services commi bank of america brian brooks Nick fuentes Blue administration citigroup gavin parlor Donald trump alex jones missouri federal government L. w dakota Trump cho holly
"bank of" Discussed on I Weigh with Jameela Jamil

I Weigh with Jameela Jamil

04:21 min | 10 months ago

"bank of" Discussed on I Weigh with Jameela Jamil

"I'll never forget that interview. That i mean. Obviously we don't know her anymore but trump when he said again. I think there should be some punishment for the woman. And what about the man because he's also partners like no. I don't think any punishment for them. Extra it was one of the things. I think i've ever seen on television. I was like wow. You're saying that in the in the northeast on television. Like that's genuinely how you feel. That's extraordinary and so many people breeding really fucking powerful. People agree with you. So how can anyone out there. Who's maybe just learning about. What a potential serious nightmare and how how very possible. This is to happen in the united states. This could happen. This could this could pretend this is not. It's not out of the round possibility. It was only a matter of decades ago that we first were able to with roe v. Wade make it something that was accessible and safe. I think the important thing should support. How do we those yet. well i know he should. You should support this. Abreu productive writes It's at repo rights on all the social needs But the the other thing is and if you follow me on social media. I post about it pretty regularly. There's there are other organizations. Who are doing that. But the and you can also support emily's list's which advocates for electing a pro choice female office at every level of government so state government all the way up through the federal government. And i find that just even doing that is enough It's important number to that. One in four women will access abortion in their life. So this isn't some rare thing. The other thing is it's made out like it's super controversial. That roe v wade you know. There's so many people are. It's something like eighty percent of americans believe that abortion should remain and legal and safe and the other thing to remember. Is that when you When when abortion becomes illegal. That doesn't mean abortion. Goes away and ends. It just drives abortion underground and makes it way less safe for women to to access and also that this is In the time that we're in right now. And i think everybody's trying to do their anti racism work in their you know their understanding about what systemic issues You know this is absolutely one of them because if you are in. The view are live in certain communities. Abortion is going to. you'll be able to find what And this disproportionately access to abortion or lack thereof. Disproportionately affects low income women women and marginalized communities across america in every community. And so this is also just. It's part of a larger ideas. Is my point confront controls. Gloria steinem talks about this all the time that it's like. Well i always. One of the first moves to. Fascism is to take control of women's reproductive rights and control that buddies eight men have ownership over. Yeah and you know women have been sort of taking care of this since there have been women you know there was family planning always you know you had a baby to carry it. You wanna caravan. You've made sure you didn't have a baby until battling could walk or somebody else could carry it you know. The village was always a part of this and So i this isn't new the other the other thing. It's it's there's a whole history to the abortion rights movement in america in it's very obviously politically motivated and and You know doesn't actually reflect a lot of people's understanding about equality and and morality no but the The minority who believe that we have this rights up very loud. I'm cory latins gently in their papers. There's a headline last week and they'd written. I can't believe this is legal. You know when. You're just too exhausted to sue where they'd written..

Abreu united states Wade emily federal government Gloria steinem cory latins
"bank of" Discussed on The Economist: The Intelligence

The Economist: The Intelligence

07:20 min | 11 months ago

"bank of" Discussed on The Economist: The Intelligence

"At goldman sachs banking. Business is position incredibly well and at citi group if they get offensive optimism fabulous pipeline whenever one of these things that we really have a fabulous pipeline part of the seasonal cheer is down to how customers themselves are doing a fact not lost on. Jp morgan chase it. Consumer their house back up your incomes up throughout the pandemic is hopefully like everyone else. Bankers want the pandemic to stay there in the rear view mirror. In truth though some of those results only seem so bountiful because reactions to the pandemic and stimulus checks rainy day. Cash piles won't affect the seasonal harvest forever for now though. Bank bosses are happy just to take in the current crop numbers. Thanks reported really. Excellent profits in the most recent quarter this week alice. Fullwood is the economists wall street correspondent so total bank profits at bank of america. Citigroup goldman. jp. Morgan chase morgan. Stanley and wells fargo. Which are america's six biggest banks taught it up to meaty forty three billion dollars in the second quarter of the year that was about four times the level from the same period in twenty twenty and around the third higher than they would have posted an average quarter in two thousand eighteen two thousand nineteen so general it was a really excellent quarter bank profits and bank bosses. Were very happy about it. So where are all the prophets. coming from. most large american banks can essentially be split into two functions. So you have the investment banks. These are the banks that deal with markets so they issue equity and debt for they trade shares in stocks and bonds and in general a saw pretty booming market activity. Last quarter in particular business was very very strong in terms of merger and acquisition activity which domestic banks earn fees from an also initial public offering so new companies debuting on stock markets. Those sources of revenues and profits did really really well last quarter at goldman sachs. Jp morgan morgan stanley. The other slice of american banks is the retail bank. Real banks did take a big initial hit during the pandemic as bank bosses expected that they would have to incur a lot of loan losses. But to what's happened over time as i. The stimulus checks and stimulus. Payments helps keep customers afloat and now as the economy is reopening and people are getting jobs again. They've actually over time decided that they probably won't need those loan losses and have gradually been able to revise back up the value of the loans that they had already made and when they do that that creates this windfall for profit so retail banks also posted very strong profits this quarter although on the revenue side. Things were a little more mixed. The hasn't necessarily been that much. Loan grows in part for those same reasons that customers are so flush with cash. And so you say the mood then among bank bosses pretty blunt yes. I'm that felt quite new earlier. In the pandemic bank bosses quite guarded in the way that they described the earnings profits have been strong for a while. Now but thank. Ceo say things like all we expect our investment bank revenues to normalize. It has no way this frenetic trading. And you'll making activity continue and you'd hear retail bank bosses talk very cautiously about the health of the american consumer. They'd be very nervous about how strong their finances were. This quarter really did feel like a complete change in tone. You had to boss of city. Jane fraser david solomon at goldman sachs. Both saying that they had these really strong pipelines going into the next quarter for dealmaking and they felt they were driven by really sustainable factors. That would help keep revenues and profits and investment banks. Very high going forward and on the retail side. You have real roller of animal. Spirits from jamie diamond and brian moynihan. The boss of bank of america pointed out that you could really see the health of american consumers in that credit card behavior. So there's mammoth growth in credit card spending. It's up forty percent year on year and even up twenty two percent on the first half of two thousand nineteen which was when the world looks normal but called repayments remain unusually high to people on necessarily accruing those debts that paying down those balances even though they're spending so much so it is a bit of a mixed picture as you say and in part because of things being knocked so bad as we expected and in part because things look to be actually good in the future here. Do you think that future. Optimism is well-founded there are definitely some headwinds for banks ahead. For example one of the measures put in places support the economy was slashing interest rates to zero and banks tend to make more money when interest rates are higher because they collect interest on loans and so that is starting to weigh on revenues at the really big retail banks bank of america for example Interest income earned fell from close eleven billion dollars to closer to ten billion dollars. So that's one potential headwind american consumers all in such great shape that actually. They aren't borrowing that much. They didn't have need to run up their credit card balances so loan growth has been pretty sluggish at the big retail banks. And it's not abundantly clear when that will pick back up again if you look at that mergers and acquisitions business that investment banks think's going to be so strong. Joe biden has issued an executive order on competition did point to mergers and acquisitions activities potentially being one of the sources of a decline in competition that he wants to combat so it's possible that some of the firms that were planning to do a lot of merger acqusition type activity. They might be scared off by that. So they're awesome clouds on the horizon and finally one big question. Mark is about how the american economy will look. Once all of the stimulus packages begin to end so generous unemployment benefits moratoriums on fictions in foreclosures. These are all due on wind in coming months sort of at the end of the summer. And it's very likely to team finances. We'll start to look a little less solid once that happens so with all that in mind. The bankers at least are happy. What about everybody else. In general analyst on the earning calls investors that hold bank shares are a little more worried than bank. Bosses appear to be one of the reasons. Is that a big source of profit. This quarter was stays provision to loan values writing those backup now that they think customers will we healthier that obviously isn't source of prophets that can enjoy saw forever at some point there won't be any excess writedowns that happened in the past. They can adjust for by writing those loan values back up and that was possibly reflected in how share prices responded to earnings. Even though jp morgan goldman sachs for example both beats profit estimates quite substantially. There ever actually.

goldman sachs banking citi group Jp morgan chase Fullwood Citigroup goldman Morgan chase morgan bank of america Jp morgan morgan stanley goldman sachs Jane fraser david solomon jamie diamond brian moynihan wells fargo Stanley alice
"bank of" Discussed on Money For the Rest of Us

Money For the Rest of Us

03:58 min | 1 year ago

"bank of" Discussed on Money For the Rest of Us

"I recently thought I hadn't received payment from a sponsor to the show. . I reached out to them because I didn't have payment in my checking account. . It turns out they had mailed me a check. . The check was sent to appeal box I have in Phoenix I'M AN IDAHO I won't be able to pick up this check for weeks, , and then when cash it, , it'll take a number of days to clear the actually get the funds. . Now the sponsor could have wired me the funds or used Ach but there, , there would have been a delay as several hours to a day. . They could have paid me and bitcoin or some other crypto currency. . But given the volatility of Bitcoin. . The amount received could be less than the amount sent after I convert the bitcoin payment into dollars. . And, of , course, , they could have just mailed cash but then what if it got lost in the mail? ? Instead that the sponsor and I both had a savings account at the Federal Reserve using a digital token issued by the Fed observe. . The transfer could have been sent and received instantaneously. . The transaction had been verified an added to the Central Banks Ledger transactions in the central banks digital currency. . Unlike a wire transfer which can cost up to twenty five dollars, , the transaction would have cost little if anything. . A recent survey by the Bank for International Settlements the is indicated that eighty percent of central banks are engaged some type of work related to issuing a Central Bank digital currency or CB DC. . For. . Short. . Forty percent of central banks have progressed from conceptual research to experiments or proof of concepts. . Another ten percent have developed pilot projects. . And ten percent of central banks say they are likely to issue a general purpose CBC in the short term and twenty percent in the medium-term. . Just this month six major central banks including the US Federal Reserve, , the European Central Bank the Bank of England and the Bank of Japan issued a joint report titled Central Bank Digital Currencies. . Foundational principles and core features. . Central, , banks are thinking about this they're working on it. . So in this episode, , we're going to take a closer look at central bank digital currencies, , their use case, , their risks, , and why it appears increasingly likely that we will see major central banks including the Federal Reserve issue digital currencies in the coming years. . Central banks already issued two types of money and they provide infrastructure to support a third type of money. . Central. . Banks issue physical cash notes, , and bills. . They are widely accessible. . You can do peer to peer payments anonymously with cash. . A dollar is a Federal Reserve Note. . It is a non interest bearing liability issued by the US Central Bank. . That's one type of central. . Bank, , currency. . Other central banks also issue physical cash. . The second type of money that central banks issue our reserves. . These are electronic deposit accounts held at the Central Bank by qualified financial institutions. . Commercial banks have accounts at the Central Bank. . Those accounts are denominated in central bank created money reserves. . Central banks also facilitate a third type of money. . This is private money. . Electronic Commercial Bank deposits

European Central Bank US Federal Reserve Bank for International Settlem Bank of England Bank of Japan Phoenix
"bank of" Discussed on Sustainability Champions

Sustainability Champions

03:53 min | 1 year ago

"bank of" Discussed on Sustainability Champions

"Customers through the Lloyds Bank and Bank of Scotland Brands and to put that into context we suggest either a hundred thousand clients across a wide range of business sectors from the kind of small local businesses up to a multinational corporations and financial institutions and laws are within that context is then within the sustainability and responsible business team and really that involves working on our longer-term thinking about sustainability and the ridge The opportunities that they presented to us as a commercial bank, but also in supporting our Aquatic and helping them better support their clients in discussions around.

Lloyds Bank Bank of Scotland Brands
"bank of" Discussed on Banking Transformed with Jim Marous

Banking Transformed with Jim Marous

06:28 min | 1 year ago

"bank of" Discussed on Banking Transformed with Jim Marous

"Can I do multiple things with a platform why cloud a better alternative for firms as they move direction, so you mentioned open banking right, so it's a good example of the power of a platform so the way I like to think about it is you know? Again. The platform is is a substrate for exposing services through easy to consume API's and one. The concept of open banking is also around a standardization. Those Api's right and it what we're seeing is that that's evolving in different geographies, and there's some very interesting innovation going on there, but. What really makes it very powerful both to the bank and to the consumer is the ecosystem partners. and. We have a client who has done excellent job. They are in Latin. America and they have done an excellent job of bringing together. I. You know third parties that I never even thought of would be on a on a banking bodmer banking ecosystem. I mean they look they look at things from a different different view from the consumer point of view using like some form of. Empathy now nobody wants. To obtain a mortgage, people want to buy a house. Right this is the sesame right so and that's just one piece of it. If they're you know, they also have to worry about turning on the utilities getting getting a moving company getting insurance, so imagine if the bank became. The hub for all those things and the consumer would only need to basically onboard themselves once to the platform. So all the KYC you know your customer. Anti Money Laundering. His checks could be done once, and and could be shared securely obviously, and with the consumer, allowing it to happen, but those credentials and that information could be shared, and it'd be a much more fluid user experience guy so i. think that is a really good example of. How banks need to transform from being financial institution to being an offering of services right there to serve their clients and money, and the transfer of money is fortunately or unfortunately behind just about everything, so let's bring those other things into the mix and make them make it more convenient come. Think about our industries, it's like kids and adults. Adults have a structure outed deal with things, but the kid. If he looks at some toys, it says okay. What can I do with US toys? And and that's. We should become kids again when we locate. Solutions and just say. Instead of saying with this I'm going to do this just like I could. Kato comes up with brand new solutions as you mentioned before the South American companies seems like a start up a kid, or or maybe even if it's an incumbent, has the mindset of a kit of building something. Just fresh. We, we're getting back to the same thing. It's about culture and it's amazing. How many my podcast episodes I've had re go, you know. The biggest hindrance to innovative thinking is legacy culture. And for digital transformation, and when and also it's time you mentioned a firm that looked at it from a different angle, and and we interviewed a couple weeks ago. Gentlemen from Keisha Bank who runs their imagined platform and imagine platform is is really built for the young. Child I mean for the beginning of the Gen Z.. And what's interesting about that is as completely rethought about where the financial services are paid for. It's not paid for by the consumer is paid for by the suppliers at one of get services in front of the consumer, and and pretty much what you talked about time. Is that when you look at this differently want the utility company went. The the company that does lawn care does does other things regarded the house when they pay from the opportunity to be part of a platform that made life easier for the consumer, which is really what we're supposed to do. This financing institutions so. Interesting time it goes without question that financial institutions are saddled with. outdated technology in some cases is compounded by the culture of risk that disag- difficulty and move beyond comfort zones and a lot of times one of the first question when I was on the sales side of the business was cheese. Can You, can you? Can you tell me? Is anybody else doing this well about a year ago IBM? Announced A partnership with Bank of America. America and the concept was created a cloud solution. That wasn't just a bank of America. Cloud solution, but basically looked at overall how to financials to what challenges they have. How many of these can we check off the list and make it so that it could be sold to other financing solutions, but without them going through all the startup steps about starting from scratch because. The cloud is big enough as it is without having to start from scratch and I understood it. The partnership was one that really the the end goal was to make it, so this was a scalable solution NASCAR will just up at scalable down. So that all financial touche's could jump onto the bandwagon now today. It was announced that you have expanded this network and you brought others into this network of financial institutions, not just from the is as but but overseas to be able to provide even greater capabilities. You described a little bit of explain what's going on. Yeah, so thank you for giving me that segue racket. Talk about this announcement today so. So first of all, let me let me just tell you what the what with the motivation for 'cause interesting backstory to this okay, so first of all on Bank of America had, and probably still has one of the largest and most successful private clouds, tremendous investment tremendously successful, but they reached the point where they were uncomfortable. Running some legacy see highly sensitive, highly regulatory sensitive workloads even on their private cloud. to IBM. And said we we need your help. That's one part of their problem the other part of the problem. which has been you know.

America Bank of America IBM Keisha Bank US Kato NASCAR
"bank of" Discussed on Money For the Rest of Us

Money For the Rest of Us

06:18 min | 2 years ago

"bank of" Discussed on Money For the Rest of Us

"Month they had several plus members. Share an article with me. That was published in the Atlantic titled Becoming Bank Collapse. The subtitle was the US. Banking System could be on the cusp of calamity this time. We might not be able to save it. Article was written by Frank Partnoy. He's a law professor at UC Berkeley. That's a pretty ominous title. We WanNa look at the article as well as the state of US banks and banks around the world. Should we be worried given the pandemic is the banking system poised to collapse. I was especially interested in the article, because it came out right after I had increased my allocation to stocks and added a preferred stock et after the money for the rest of US plus model portfolios. The particular preferred stock after us by shares has about twenty six percent allocated to banks and banks are on the cusp of this calamity that does not bode well for preferred stocks. In the article, Partnoy is particularly worried about banks exposures to an esoteric security. A collateralized loan, obligation or see Elo. We Discussed Sea Ellos back in episode two six in May twenty eighteen. collateralized loan obligations are asset backed securities issued by special purpose vehicles or s peeves. The S P V purchases leveraged loans which are non investment grade bank loans that have been syndicated. A, bank will make a loan to a Non Investment Grade Company, a higher risk company and then sell that loan into the marketplace. Many of those purchasers are Clo's is over a trillion dollars of leveraged loans outstanding. and. Most are held as part of these collateralized loan obligation structures. The way it works. Is that s? Cells, debt and equity securities that comprise to see yellow. Those securities are backed or collateralized by the leveraged loans. The CEELO has multiple layers tranches that are sold separately. The debt layers are rated by credit quality, so the senior layer is triple A.. There are lower rated debt layers known as mezzanine layers, and then there's an equity layer which is unrated. The payments on the underlying leverage loans, those payments are pooled together and flow in order. The first payments go to the senior AAA layer then to the lower rated layers, and then finally to the equity layer. That is known as they waterfall. The debt tranches are over collateralized debt ACL Oh might have issued five hundred million dollars in debt securities as part of the L O that are backed by six hundred and twenty five Million Dollars Worth of leveraged loans with the Additional One, hundred, twenty, five million in loans funded from selling the equity trunch. Each Cielo about one hundred and fifty to two hundred and twenty-five loans. And because the leverage loans, themselves are floating rate notes. Their interest rates will fluctuate as short term. Interest rates change the debt tranches within a cll are also floating rate, so there's some protection if interest rates rise. Now because of this waterfall structure, the equity tranches takes the first losses, then the lower rated debt tranches, and finally if it gets to that this senior triple, a. rated debt trench suffered losses. That hasn't happened before. The SNP does a global Cielo report looking at default rates. From Nineteen ninety-six to twenty, eight eighteen overall default rates for CEELO's was zero point five percent. The worst vintage year was sea ellos issued in two thousand eight. there. The default rate was one point seven percent. There have been no defaults in CEELO's issued between two thousand, nine and two thousand eighteen. And from that one, thousand, nine, hundred, sixty, two thousand eighteen period, there has never been a default for the triple eight trunch, and only one default for the AA trunch. Now as you know, we are in a pandemic and defaults within the High Yield Bond and leveraged loan space is increasing. Fitch estimates the twelve month default on leveraged loans is four percent, and that more than two hundred billion dollars of leveraged loans will default through year end twenty, twenty one. Adequate to a two year cumulative default rate of fifteen percent. Just because leverage loans are defaulting doesn't mean all the different tranches of a coo is experiencing a default. So a report on the wall, Street Journal from mid May that showed about ten percent of Cielo managers have been diverting cash flow away from equity investors and going to the debt tranches, which means there have been default that are starting to impact that junior equity trunch. What is different from this cycle, though is leveraged, loans are more risky and we discussed that in episode to a six. The covenants on these loans are less restrictive. The credit quality is lower. The financials are weaker and so we should expect defaults to increase. Question is will see a low default and other defaults and other loans impact banks to where we should be worried about our savings or investments that we might have in banks. In banks securities. Including their common stock and their preferred stock.

US Frank Partnoy David Stein UC Berkeley
"bank of" Discussed on KDWN 720AM

KDWN 720AM

01:52 min | 2 years ago

"bank of" Discussed on KDWN 720AM

"However, I might be that day. Or laptop. All secured all encrypted. And what we'll do is we will look at your credit report on my screen and I will walk you through every piece of everything that's on there and explain it all to you. Get the details, right? Your name is correct. Make sure that spark happens a lot Where you know you got juniors and seniors you've got, you know, common name. There could be emerged Credit file all kinds of different things that we look for. From that perspective. And we'll make sure it's right. We're all working remotely were all available to you 24 7 If anything, we've gotten more accessible with people working at home. We've got a group of credit bureau specialists that has access To these credit reports into the credit bureaus 24 7 They're happy to answer any questions or get your report to me. I review every single report. If you are listening to the show, and you want me to make sure that You know, I'm the one that looks at your credit report. Rest easy because I see them all. Again. Our phone number 702778 2007 02778 2000. Lot of weirdness going on right now with a Bank of America. You know all of these unemployment. Cards are drawn Bank of America. They're having trouble getting people back to work. It's been difficult. I know. A lot of the machines are out of cash, and it's You know, it's an odd thing to be kind of going through. When you look at Bank of America. They are the number two bank in the country. 25 million consumers Banquet. Bank of America Chases number one.

Bank of America
"bank of" Discussed on FT Alphachat

FT Alphachat

03:41 min | 3 years ago

"bank of" Discussed on FT Alphachat

"So that's the American politics. Let's take central banking pelvic point. And then go to China, they have a pretty credible central Bank. And yet they live in a very. Politicized system way more politicized than I was particularly with the current leadership. How does that play? I how should we think about central banking in China and all of the rumors, we he had a, but mosit- debts from corporations, etc. How should we think about this stuff? Well, there's a political economy aspect, and then there's what the central Bank, and the Chinese officials are facing right now in terms of politically con me I want to ask the now retired very impressive governor of the People's Bank. Joe what is this mean? You don't have central Bank independence, like the fed or the or whoever. And he said to me, I'd rather not have central Bank independence because it means. I'm in the room for all the decisions, and I get to talk. If I have independence, then I'm outside the room for a lot of the decisions, and I get critiqued on nice stuff. And again, this is paraphrasing him I can't quote him from memory perfectly. But I've heard that kind of thing also from emerging market central banks that we're the. Repository of technocratic expertise where the one people that are not corrupt or at least less corrupt the data driven. So you want us in the room on fiscal policy. You want us in the room on financial policy and part of the deal to do that. Is you can't do that from from central banking, independent perspective and just one last sentence. I'm actually very sympathetic to that one of the things I got into in disputes. When I was at the Bank of England was the idea that some of my colleagues at the Bank of England were holding fourth ahead of an election on fiscal policy. And I thought that basically ruined the deal they had no business talking about that. If you're going to be independent. It's interesting though, because over the summer when we saw big currency crisis happening in Turkey, one of the major motivations for that was the fact that people questioned as indefens- in the central Bank, and it wasn't until you know, September when the central Bank raise interest rates pretty drastically that the lira stabilized and the economy, basically was able to be on a little bit more. Firmer footing. So in a sense are emerging markets kind of caught between this bind of being the room and making sure that fiscal policy and monetary policy are coordinated, but then also showing this credibility to international investors. Especially those countries that are highly dependent on those capital flows in Kobe, great example, because we did see this in Turkey. And there was a run on the currency in a run on the banks and not a consumer run on the banks capital. Stop and the turning point was when the central Bank of the Republic of Turkey, raise rates disabled that are to one prisoner on coupons at don't do it. You know, so that was a very strong signal. But I think it's important. This goes back to something smart. And I were just talking about it's important to see the cyst less. The central Bank independence factor in itself and more about it's a signal air to on his throne literally tens of thousands of people in jail. He's gotten rid of generals and admirals. He's gotten rid of judges all of which are supposed to be independent as well in Turkey. So it's not so much the legal independence of central Bank in Turkey. It was that there is a coalition of financial markets and people who have an interest in this protected, and so again, it's brave and great that the central Bank of focus Turkey stood up that way, but air wants decision to respect their independence is driven by more deep factors. It's not just the flag, central Bank independence. And so I mean in talking about this connection between central banks and governments setting fiscal policy..

Turkey Bank of England People's Bank China Joe fed indefens