Free Republic

there are no banking rules/laws in the Biden Fed/Treasury system. ... The Dodd-Frank laws are still on the books, but the FDIC decision to insure all deposits, regardless of size, now means those laws, rules and regulations are not required to be followed. Additionally, as a result of JPMorgan gaining another $100+/- billion in deposit assets, the law(s) surrounding the 10% U.S. deposit maximum, within too big to fail banks, no longer exists. Noted in the announcement, “JPMorgan Chase is assuming all deposits – insured and uninsured.” JPMorgan is also assuming assets consisting of $173 billion in loans and approximately...

With 'goliaths' like JP Morgan also 'winning', analysts say Jittery customers are flocking to major banks in the wake of the SVB collapse One analyst said 'Goliath is winning' as some speed up their onboarding process to cope with the new demand It comes as SVB's spectacular fall from grace continues to wreak havoc on Wall Street Bank of America has reportedly raked in $15 million in new deposits as customers flee small lenders for 'too big to fail' firms in the wake of the Silicon Valley Bank collapse. So-called 'goliath' banks such as JP Morgan and Wells Fargo are...

Billionaire investor Bill Ackman says the US government should consider a "highly dilutive" bailout of Silicon Valley Bank amid jitters about its financial position. The bank's failure "could destroy an important long-term driver of the economy as VC-backed companies rely on SVB for loans and holding their operating cash," Ackman said in a series of tweets on Thursday. "If private capital can't provide a solution, a highly dilutive gov't preferred bailout should be considered," he said.

Ukraine needs between $3 billion and $4 billion every month to keep its government from collapsing amid the ongoing conflict with Russia, the International Monetary Fund (IMF) said. “Indeed, the Ukrainian authorities have done an impressive job in managing their economy through extremely difficult circumstances following Russia’s invasion,” IMF Managing Director Kristalina Georgieva said.

Ten years ago this week, I was in Madrid on a Monday afternoon, watching as some of the 26,000 employees of Lehman Brothers spilled onto a Manhattan sidewalk, their mighty investment bank suddenly non-existent. As I could plainly see, this was no mere American crisis: the streets around me were already filling with Spanish and Central American workers forced to walk away from construction projects where work had halted, permanently, their U.S. and European bank financing having suddenly vanished. Over the next couple of days, the world economy ground to a halt, some of the mightiest financial institutions of the...

Wells Fargo executives know that everyone hates them. In the last two years, the bank has launched three separate marketing campaigns hoping to clean up its public image, only to see each effort thwarted by fresh, catastrophic scandals ― like wrongly repossessing 27,000 cars and foreclosing on 400 families for no reason. The bank’s latest quarterly filing with the Securities and Exchange Commission dedicates more than 2,000 words to “Additional Efforts To Rebuild Trust,” listing “automobile lending,” “mortgage interest rate lock extensions,” “consumer deposit account freezing/closing,” “certain activities within wealth and investment management,” “foreign exchange business,” “fiduciary and custody account...

Dead malls are popping up all over the states, particularly in the Midwest, where economic decline has sped up the "going out of business" process. This map, put together by a Dead Malls Enthusiasts Facebook group, shows that well. As Americans are faced with multiple shopping options and more stores are leaving malls, it should be interesting to see if malls and mall culture will survive. What you are about to see is what happens when malls are abandoned. It's apocalyptic and really, really creepy....

Ten years after a financial crisis rocked the nation’s economy, the Senate is poised to pass legislation that would roll back some of the safeguards Congress put into place to prevent a relapse. The move to alter some key aspects of the Dodd-Frank law has overwhelming Republican support and enough Democratic backing that it’s expected to gain the 60 votes necessary to clear the Senate. Several Democratic lawmakers facing tough re-election races this year have broken ranks with Minority Leader Chuck Schumer, D-N.Y. and Sen. Elizabeth Warren, D-Mass. The legislation would increase the threshold at which banks are considered too...

Bob Iger (R), CEO of Walt Disney Co. and Rupert Murdoch, Chairman and CEO of News Corp. Disney to buy 21st Century Fox assets in a deal worth more than $52 billion in stock 54 Mins Ago | 03:52 Disney on Thursday announced a deal to acquire many parts of Twenty-First Century Fox for $52.4 billion in stock. The company will get Fox's movie studios, network Nat Geo, Asian pay-TV operator Star TV, stakes in Sky and Hulu and regional sports networks. The acquisition bolsters Disney's plans to become a dominant streaming service platform, making it a bigger threat to...

European Union states are considering measures which would allow them to temporarily stop people withdrawing money from their accounts to prevent bank runs ... The move is aimed at helping rescue lenders that are deemed failing or likely to fail, but critics say it could hit confidence and might even hasten withdrawals at the first rumors of a bank being in trouble. The proposal, which has been in the works since the beginning of this year, comes less than two months after a run on deposits at Banco Popular contributed to the collapse of the Spanish lender. It also come...

Stocks drop after Trump says he's actively considering breaking up big banks Headline only at this time.

Eight-years after taxpayers rescued the U.S. financial system, some of the country's largest banks, including JPMorgan Chase and Wells Fargo, continue to receive billions in bailout money, according to government data. Wells Fargo is eligible for up to $1.5 billion in bailout funds over the next seven years. JPMorgan and Bank of America could receive $1.1 billion and $964 million respectively. The continuous flow of funds is a remnant of the $700 billion bailout effort, known as the Troubled Asset Relief Program or TARP, put in place during the financial crisis. Some of that money, about $28 billion, was carved...

Some banks are too big to fail, whether we like it or not. We learned this in the Great Depression, when bank failures transformed an otherwise ordinary recession into a decade-long economic cataclysm that didn't end until World War II. http://www.fool.com/investing/general/2016/01/31/these-8-banks-are-too-big-to-fail.aspx

The terms "Globalist" and "Globalism" defined.

US officials refused to prosecute HSBC for money laundering in 2012 because of concerns within the Department of Justice that it would cause a "global financial disaster", a report says. A US Congressional report revealed UK officials, including Chancellor George Osborne, added to pressure by warning the US it could lead to market turmoil. The report alleges the UK "hampered" the probe and "influenced" the outcome. HSBC was accused of letting drug cartels use US banks to launder funds.

Germany’s largest lender is set to shut over a quarter of its branches across the country as the company goes through a major restructuring process. The closures are set to take place over the next few months, with 188 of Deutsche Bank’s 723 branches nationwide due to close their doors. […] After recording colossal losses of around €7 billion in 2015, the Frankfurt lender is desperately seeking ways to cut costs. […] The bank said it hopes to redirect funds to digital banking, in which it hopes to invest €750 million by 2020. …

The largest U.S. financial institutions have enough armor to withstand the turmoil of a major and prolonged national and global recession, the Federal Reserve said Thursday. The central bank’s annual “stress tests” show that the 33 largest financial institutions — including JPMorgan Chase, Citigroup, Bank of America and Wells Fargo — all hold more capital than at any time since the 2008 financial crisis. They also hold enough capital that, even if faced with billions of dollars in losses from loans as a result of an economic crisis, they would continue to function. The stress tests were created in the...

Over the course of the last few months, Brexit has become one of the biggest catch-all preemptive scapegoats of recorded human history. Even far beyond the old continent’s porous borders, politicians, central bankers, and economists are warning their respective populations to brace for a serious aftershock if the people of Britain vote to leave the EU. This is is a remarkable feat given that the UK has its own perfectly functioning currency, and as such decoupling from the EU, while bumpy, should not pose an immediate financial threat either to the UK or the EU, let alone the world at...

Donald Trump says Puerto Rico has "far far too much debt," and the U.S. government shouldn't bail out the island....... Puerto Rico is in crisis mode. It has run up $70 billion in debt, a staggering amount for an island of under 3.5 million people..... "You have to cut the debt way down and get back to business," he said.

UPS, and roughly 270,000 retired truck drivers, construction workers, and other service workers can breathe a collective sigh of relief... for now. As we previously reported, the Central States Pension Fund had submitted a plan to Treasury that if approved would have cut member benefits, and triggered UPS to take an estimated $3.8 billion charge. As the WSJ reports, Kenneth Feinberg (who was appointed by the Treasury to review all such applications) rejected the plan presented by the CSPF. Feinberg cited a few reasons for his decision, one being that it imposed cuts in a disproportionate manner, another was that...