Posted on 07/18/2020 10:13:26 AM PDT by SeekAndFind
We covered previously the dark past of Jay Clayton which made His name and fortune at Sullivan & Cromwell helping Goldman Sachs, JP Morgan, and other big banks skirt the SEC regulations. Even crazier is He is now the head of the SEC, Another shocking set of events was the prosecutor in a criminal probe into Goldman Sachs and JP Morgan was just removed by Barr and He was attempting to replace Him with none other than Jay Clayton.
The newest shocking action is the SEC just rendered the 13F filing required by institutional money managers useless. In fact the threshold has been held at $100 million since the regulation went into effect designed to bring oversight into large investment players. For the first time in 40 years the threshold has been raised to $3.5 billion and has priced out 90% of firms who usually file. Meaning an end of firms being required to disclose their stock investments unless they manage more than $3.5 billion.
He said the rule was to help small firms and save them money but you have to admit jumping from 100 million to $3.5 billion is a large jump and now is has disabled the disclosure rules for 90% of companies.
Bank runs have begun at Chinese banks after what is being described as “rumors” were spread on social media warning depositors of bank failures. The thing is, before the beginning of the global economic collapse China’s banking system was already seeing bank failures and being the largest banking system in the world it is extremely significant for the global economy.
Confidence in China’s banking sector has never recovered since the first state takeover of a bank in decades took place in 2019 following a spree of bank runs at other struggling lenders. The growth of non-performing loans at China’s banks is revealing the fragilities that many only find out when it’s too late.
China also has the largest amount of bank depositors with over 1 billion banking customers any rush to withdraw their savings could crush many struggling institutions. The same thing is happening in the US as the big banks have set aside billions for loan losses so far. and the FDIC was running infomercials last year that echo the messages from Chun’s banking regulators which is (DO NOT WITHDRAW YOUR SAVINGS FROM THE BANK). Typically when your start to see these types of messages it means the problem is serious.
CLICK ABOVE ARTICLE LINK FOR THE VIDEO...
Remember the rumors of a coup at the beginning of the pandemic? They were traced to China.
We get to play games too.
Very good points.
When the government says you don’t need a gun, YOU NEED A GUN!
I wonder if the ongoing economic collapse of the ChiCom regime has been covertly helped along as payback for the ChiComs inflicting the U.S. and the rest of the world with the ChiCom virus (not that anyone would ever admit it).
Those American institutions who heavily invested in the ChiCom market should NOT be protected by SEC DeepState Swamprats from having to report their own serious financial problems.
13F filings are overrated anyhow for the most part. They are well behind trade date and the position could have been unwound even before it is reported.
China’s banking system will become even worse because of their Hong Kong actions. HK banks were even more levered than their mainland compatriots.
When the government says you don’t need a gun, YOU NEED A GUN!The government wants to disarm us after 243 yrs 'cuz they plan to do things we would shoot them for!
At no point in history has any government ever wanted its people to be defenseless for any good reason ~ nully's son
Nut-job Conspiracy Theory Ping!
To get onto The Nut-job Conspiracy Theory Ping List you must threaten to report me to the Mods if I don't add you to the list...
p
When Three Gorges Dam bursts, the downstream banks will be flooded. /just_a_guess
And the dam is breaking
What’s the latest?
People being evacuated. Trying to open all outlets. Not looking good
Been wondering where the most reliable news source is for the latest on the dam. Since Drudge became unbearable, it is hard to get a good aggregator or single newspaper for breaking news.
Is this person some kind of Deity or something?
Maybe they should drop that cap from 3.5B to between 0.5B and 1.0B. If they’re going to protect small firms, wouldn’t that lower cap allow them to scrutinize both medium and large firms, and not just the large firms?
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.