Big Debt Plus Rising Interest Rates = Big Danger
If there is anything Wall Street banks crave is relief. Primarily relief from the potential for failure and, next, relief from holding much, if any, equity capital. These banks like their capital tiny and their profits huge. Losses should be socialized. After all, we want the ATMs to keep spitting out cash.
The SLR will be allowed to expire at the end of this month before most of us knew what it was—”supplementary leverage ratio.” When covid hit the fan last March, as the WSJ explains, “The ratio measures capital—funds that banks raise from investors, earn through profits and use to absorb losses—as a percentage of loans and other assets. Without the exclusion, Treasurys and deposits count as assets [not equity].”
Solutions To America’s 7 Biggest Problems For We, The People
“We the People of the United States, in Order to form a more perfect Union, establish Justice, insure domestic Tranquility, provide for the common defense, promote the general Welfare, and secure the Blessings of Liberty to ourselves and our Posterity, do ordain and establish this Constitution for the United States of America.”
Our central thesis is that as a nation, we are divided and stalled out by deep, cynical, fully paid for partisanship at a time when the stakes of delaying pragmatic decisions to address the Five Fates could not be higher. What is to be done?
Running the World: The Inside Story of the National Security Council and the Architects of American Power
Never before in the history of mankind have so few people had so much power over so many. The people at the top of the American national security establishment, the President and his principal advisors, the core team at the helm of the National Security Council, are without question the most powerful committee in the history of the world. Yet, in many respects, they are among the least understood.
A former senior official in the Clinton Administration himself, David Rothkopf served with and knows personally many of the NSC’s key players of the past twenty-five years. In Running the World he pulls back the curtain on this shadowy world to explore its inner workings, its people, their relationships, their contributions and the occasions when they have gone wrong. He traces the group’s evolution from the final days of the Second World War to the post-Cold War realities of global terror — exploring its triumphs, its human dramas and most recently, what many consider to be its breakdown at a time when we needed it most.