Noncompliant: A Lone Whistleblower Exposes the Giants of Wall Street by Carmen Segarra, 2024
A first-hand account of the oversight of the big banks in the wake of the financial crisis, from the Federal Reserve examiner who refused to be silencedIn 2011, Segarra took a job as at the Federal Reserve Bank of New York supervising for Goldman Sachs. It was an opportunity, she believed, to monitor the big bank's behavior in order to avoid another financial crisis.
By Rebecca Gordon, originally published by Tom Dispatch April 17, 2024
"...Project 2025 doesn’t launch the typical conservative attack on the very concept of such a wage. It does, however, go after overtime pay (generally time-and-a-half for more than 40 hours of work a week), by proposing that employers be allowed to average time worked over a longer period. This would supposedly be a boon for workers, granting them the “flexibility” to labor fewer than 40 hours one week and more than 40 the next, without an employer having to pay overtime compensation for that second week.
What such a change would actually do, of course, is give an employer the power to require overtime work during a crunch period while reducing hours at other times, thereby avoiding paying overtime often or at all..."
In case you were wondering if the GOP still supports destitution.
Today in Labor History March 29, 1948: Police attacked striking members of the United Financial Employees’ Union and arrested forty-three in the “Battle of Wall Street.” This was the first and only strike in the history of the New York or American Stock Exchanges.
"The share price of Donald Trump’s social media company jumped by more than 50% minutes after it began public trading under the ticker DJT on Tuesday morning."
CNBC reports: "Trump Media’s merger with the shell company Digital World Acquisition Corp. was completed Monday, allowing it to become publicly traded, it added almost $4 billion in paper profits to Donald Trump’s net worth."
Today In Labor History March 26, 1910: Congress amended the Immigration Act of 1907 to specifically bar entrance of “paupers, anarchists, criminals and the diseased.” The amendment was specifically designed to limit entry of Eastern and Southern European immigrants, many of whom were becoming radicalized by the deplorable working and living conditions in late 19th and early 20th century America. The law came in the midst of a wave of anti-immigrant hysteria, whipped up by government and media-generated pro-eugenics propaganda. The original law included the following statement of “undesirables” to be prohibited entry into the United States: “All idiots, imbeciles, feebleminded persons, epileptics, insane persons, and persons who have been insane within five years previous; persons who have had two or more attacks of insanity at any time previously; paupers; persons likely to become a public charge; professional beggars; persons afflicted with tuberculosis or with a loathsome or dangerous contagious disease.”
“Jeff Yass, the billionaire Wall Street financier and Republican megadonor who is a major investor in the parent company of TikTok, was also the biggest institutional shareholder of the shell company that recently merged with former President Donald J. Trump’s social media company.”
"This is where Yass comes in. Most people who currently hold stock in the DWAC, which will soon merge with TMTG, are individual retail investors who support Trump. But the stock's largest institutional investor, which owns more than 2% of the firm, is Susquehanna International Group, Yass' firm."
"If Yass dumps the stock quickly, it could precipitate a broader sell-off that could dramatically reduce the value of Trump's holdings. In other words, Trump has a large personal financial interest in keeping Yass happy."
@geerlingguy I have a #PowerBook#Wallstreet that needs the motherboard battery replaced but after reading the #ifixit instructions it looks too daunting and invasive to attempt.
BANK OF AMERICA IS BACKING DESTRUCTION OF THE RAINFOREST
The #Amazon rainforest is at a critical tipping point — and the world's largest butcher, #JBS, is pushing the world's largest rainforest over the edge, and setting up a global #catastrophe.
In fact, right now, JBS is being sued for lying to consumers about their #EnvironmentalImpact, #ClimateGoals, and their pseudo-plan to achieve net zero carbon #emissions by 2040 —
You may not have heard of #JBSFoods before, a Brazilian beef producer that's made a name for itself as one of the most destructive, rights-abusing, politically-corrupt #corporations in the world.
JBS has been linked to 1.7 million hectares of rainforest destruction in the #Amazon — an area 1.5 times the size of Hawaii's Big Island —
The rule, which had been delayed for >1 yr as industry groups have threatened lawsuits, is less robust than #WallStreet#regulator’s original #climate disclosure plan, which would have forced public companies to account for not just their own #emissions, but also those throughout their #SupplyChains. But it still represents 1 of the most far-reaching measures by the #federal#government to push companies toward climate #accountability….
#Stocks on #WallStreet recorded their biggest gain in more than a year on Thurs, a day after #Nvidia, which has become an emblem of the growth potential offered by #ArtificialIntelligence, reported record profits.
The #SP500 rose 2.1%, its best 1-day performance since Jan 2023. The #Nasdaq Composite index, which is chock-full of #tech stocks like Nvidia, rose 3%, also its biggest 1-day jump in over a year.
Through about two-thirds of the S&P 500's fourth quarter 2023 reports, companies are posting an average 6-percentage-point earnings per share beat this quarter.
EquiLend, a financial technology company owning a platform that executes $2.4 trillion of securities transactions each month, has confirmed unauthorized access to its systems on January 22. The incident has disrupted some of its services. The company has taken immediate steps to secure its systems and is working with external cybersecurity firms to restore the services as quickly as possible. Clients have been informed that this may take several days. The company is working closely with the U.S. Department of the Treasury to monitor the situation. The impact of the cyberattack on financial markets is yet to be determined.
“Blue states like California and New York have high housing costs in part because these states tend to house “superstar” industry #clusters like #SiliconValley, #Hollywood, and #WallStreet.”
Stellar Price Prediction - 2023, 2024, 2025, 2026 - 2030 (coinpedia.org)
Stellar Price: CoinPedia's XLM price illustrates the possible price projections for 2023 - 2025 and the years to come.