$1,100,000,000,000 Pours Into US Banks Amid High Interest Rates As JPMorgan Chase, Bank of America Pay Pittance To Depositors: Report – The Daily Hodl
After two and a half years of the Fed's “prolonged high interest rate” policy, US banks have reportedly collected more than $1 trillion. The high interest rate system has allowed thousands of U.S. banks to earn higher yields on their Fed deposits, according to data from the Federal Deposit Insurance Corporation (FDIC). report Financial Times. […]
Australian Dollar receives support from divergent policy outlooks between central banks – FXStreet
The Australian dollar strengthened as the RBA and Fed adopted diverging policy outlooks. The RBA's Financial Stability Review suggests that Australia's financial system remains resilient and risks are broadly contained. China plans to inject 1 trillion yuan of capital into its major banks. The Australian dollar (AUD) recovered some of its recent losses against the […]
China weighs injecting $142 billion of capital into top banks, Bloomberg News reports – Yahoo Finance
HONG KONG (Reuters) – China is considering injecting up to 1 trillion yuan ($142.39 billion) in capital into the country's biggest state-owned banks to boost their ability to support its struggling economy, Bloomberg News reported on Wednesday. The move is part of a wide-ranging stimulus package introduced by Beijing this week to jump-start China's sluggish […]
Biden-Harris feds shut down solvent banks in an unconstitutional move against crypto banking
Many of you may remember my coverage of “Operation Chokepoint 2.0” in the spring of 2023. To recap, Biden’s financial regulators, namely the Fed, FDIC and OCC, began cracking down on banks dealing in the cryptocurrency space. The first victim was the Silvergate Bank. Voluntary LiquidationThe standard reporting on Silvergate was that the bank lent […]
Another Outer Banks home collapses, third home lost on Rodanthe street this week
A home on the Outer Banks has collapsed into the Atlantic Ocean, the third house on that stretch to meet the same fate since Friday. The home, located in GA Kohler Court, Rodanthe, sank into the sea on Tuesday afternoon. It's the 10th home in Caller Court, Georgia, to be swallowed by the ocean in […]
New York City Schools Chancellor David Banks to step down amid federal investigations
New York City Superintendent of Education David Banks, the head of the nation's largest education system, offered to resign at the end of the year on Tuesday. Banks' decision to resign came after federal agents seized his cellphone and other devices earlier this month. Associated Press Other New York City officials also reportedly Subject to […]
Chase abruptly shuts 7 branches in just one week – amid total closures of 14 from major US banks – Daily Mail
By Alice Wright, Dailymail.Com Release date: September 23, 2024 11:42 AM EDT | update: September 23, 2024 11:52 AM EDT Chase closed seven local branches in just one week, forcing customers to travel farther away for essential services. The largest US bank is not alone in closing branches, with Wells Fargo and Capitol also following […]
Security firm linked to Adams aide Phil Banks under investigation by feds, DOI
In a surprising escalation in the investigation surrounding City Hall, federal and New York City investigators are scrutinizing a security company formerly owned by Mayor Eric Adams’s chief public safety officer, sources told The Post on Saturday. Both the U.S. Attorney's Office and the city's Bureau of Investigation are investigating City Safe Partners, a company […]
Justice Department probes banks for alleged collusion in Archegos liquidation
The Justice Department is reportedly investigating several major banks for allegedly conspiring during the liquidation of Archegos Capital Management, the ill-fated $36 billion investment firm led by Bill Hwang, who was convicted of fraud. Federal investigators in San Francisco are looking into whether Credit Suisse, Nomura Holdings Inc. and UBS Group Inc. conspired to control […]
Embattled NYC schools chief David Banks recites Nelson Mandela’s favorite poem
The city's embattled superintendent of education delivered a thin speech in his annual address on Tuesday that offered no metrics on student achievement, before bizarrely having the audience recite a poem that Nelson Mandela “recited every day during his incarceration.” The famous poem “Invictus,” written by English poet William Ernest Henley in 1875, includes lines […]