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#bigbanks

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Only 2 INDs in America are thriving:🚨 #BigBanks & #BigTech -both appear to want only 1 IND in America to thrive. So they're taking each other on in a series of regulatory fights.

Private equity mad that crypto is also going to be allowed as an option in 401k plans

Banks & fintech are literal adversaries on the CFPB's open bkg rule

EO planned on "debanking" for the benefit of the tech right

#Privatization #Kleptocracy #AI #FINTech #Crypto #Fascism #Deregulation #USPol prospect.org/power/2025-08-07-

The American Prospect · Silicon Valley Godzilla vs. Wall Street MothraThe only two sectors thriving in Trump’s economy are increasingly sparring with each other.

Filings🚨by 4 #BigBanks flagged >$1.5B in TXs incl: 1000s of wire transfers for the purchase/sale of artwork for rich friends, fees paid to #Epstein by wealthy indivs, & payments to women -came after he was arrested in 2019 on fed sex trafficking charges.

LARGE💰TRANSFERS to indivs, foreign Cs or obscure cos: kind of things banks are supposed to be examining as potentially suspicious.🚨Some of the💰transfers from JPM involved accts at 2 RUSSIAN BANKS, a few: $100M...
#USPol nytimes.com/2025/07/17/busines

The New York Times · Ron Wyden, a Democrat, Won’t Let Go of the Jeffrey Epstein Case, EitherBy Matthew Goldstein

"The biggest banks are planning to sue the Federal Reserve over annual stress tests."

#BigBanks have been criticizing the Fed for 15 years. CEOs want to weaken regulations to increase profits. They want less onerous stress tests, lower capital requirements... They likely assume that Trump make their wishes come true. The stress tests & other regulations came about after the Financial Crisis to protect depositors.

#Deregulation #USPol #CorporateGreed

cnbc.com/2024/12/24/biggest-ba

Continued thread

More from #DemocracyNow's interview with #RalphNader:

JUAN GONZÁLEZ: Ralph? Ralph, let me ask you. For the #progressive movement now, as it faces the return of Donald #Trump, what do you think are the next steps in terms of #resistance or reorganization that have to occur?

RALPH NADER: Well, it’s got to be focused on #Congress. The House is not yet resolved, but only Congress can stop the #Trumpsters. It isn’t just Trump. Trump is a figurehead. Trump is a bullhorn. It’s the Trumpsters. It’s the #HeritageFoundation. It’s [#Project2025]. It’s the takeover of departments that are dedicated to standing up for the people, the environmental protection bureau [#EPA], the Consumer Financial Protection Bureau [#CFPB], the #AutoSafety bureau [I'll bet Trump puts Elon in charge of that], the Federal Trade Commission [#FTC], the Justice Department. These are all going to be turned into virulent, vengeful or inactive governments. They want to destroy the civil service, bring it back to the spoils system. We’re in for huge turmoil. One can say that the election yesterday really elected #PresidentVance. Trump is not going to last. He’s going to disintegrate. And #Vance is in a position to become the next president.

So, what has to be done, Juan, is massive focus on Congress, which is the main constitutionally authorized lever to hold the executive branch #accountable, build for 2026. The Democrats will have far fewer people up for the Senate than the Republicans, unlike this year.

And they’ve got to stop blasting away at people who want to challenge the #DemocraticParty. The party says to everybody on their side, “You know how bad the Republicans are? You got nowhere to go.” They spent a lot of money attacking the #GreenParty, the tiny Green Party, instead of listening to William Barber, Reverend William Barber, who said, “Look, there’s 80 million people who aren’t going to vote. A lot of them are low-wage workers. If you get 15% of low-wage workers who aren’t voting to go to the polls, the Democrats would have won.” They didn’t listen to him. They didn’t listen to all the citizen groups who know how to talk to people, not just liberal patients or liberal workers, but conservative workers, conservative patients. Remember, a vast majority of this country wants to tax the undertaxed #wealthy and the #corporations. They want to break up the #BigBanks. And above all, in poll after poll, they say that corporations have too much control over their lives. Sherrod Brown pulled in his horns and lost. #BernieSanders campaigned on corporate power, and he won in a landslide in Vermont. And Harris refused to campaign with Bernie Sanders, but she campaigned in several states with #LizCheney of the criminal Cheney family and the invasion of #Iraq that killed over a million Iraqis.

So the blunders were endless. And it was basically turning her back on the progressive and the genuine populist constituency in this country. And Bernie, of course, supported Harris, but his positions were rejected constantly. He said, “Get the living wage up. Get universal healthcare up. Crack down on corporate crooks. Increase Social Security benefits that have been frozen for over 50 years. And get the taxation on the wealthy.” She ignored all that. Just throwaway lines.

OUCH!

Read more:
democracynow.org/2024/11/6/ral

Democracy Now! · “This Is a Collapse of the Democratic Party”: Ralph Nader on Roots of Trump’s Win Over HarrisBy Democracy Now!

@sibrosan So, after reviewing articles and my notes, it seems pretty clear that #BigBanks and #WeaponsManufacturers encouraged Putin's invasion of #Ukraine because they would make an obscene amount of profit from such a war. For whatever reason, some western nations (including #Trump and the #USA), did not nip Putin's bluff in the bud, and their hesitancy emboldened #Putin. This is what happens when war profiteers are running things. No thought given to civilian deaths, destruction, and environmental damage. Same thing is going on in #Israel. We should have said, "Hey, cut it out. You're committing #WarCrimes!" but instead the US supplied even more weapons to Israel ('cuz #Raytheon / #LockheedMartin / #Boeing / #Halliburton ) need to make enough money to keep buying members of #Congress (and the #HouseOfLords). Does THAT answer your question?

The Son of Former #SupremeCourt Justice Anthony Kennedy Helped #Trump Secure Loans at #DeutscheBank

by Jerry Lambe, Oct 28th, 2020

"The son of former U.S. Supreme Court Justice Anthony Kennedy helped #DonaldTrump in 2005 secure nearly $700 million in loans to construct a skyscraper in Chicago, despite Trump’s reputation for defaulting on business loans, the New York Times reported on Tuesday evening.

"According to the report, Justin Kennedy, who ran the German bank’s commercial real estate team and was close with the president’s daughter #IvankaTrump and her husband #JaredKushner, was willing to overlook Trump’s shoddy history as a debtor, getting the future president to personally guarantee $40 million of the loan. Both Jared Kushner and Ivanka Trump currently work in the White House.

"The Times reported that Trump was able to convince Kennedy and other top executives that 'the Chicago development was a guaranteed moneymaker,' and further signaled 'the Trump family’s commitment to the project' by informing the bank that Ivanka would be in charge of the operation.

"#JustinKennedy’s role in helping to breathe life into Trump’s business empire before he was president has continued to breed rumors and conspiracies about the alleged
'White House charm offensive' carried out by the Trump family to help convince #JusticeKennedy to retire and make way for #JusticeBrettKavanaugh’s appointment to the bench.

"In 'Dark Towers: Deutsche Bank, Donald Trump and an Epic Trail of Destruction,' finance editor of the New York Times David Enrich described how Justin Kennedy was 'drawn to Trump’s risk-taking and glamour' while he was shepherding lucrative loans to Trump’s private businesses, even after the bank’s clients took massive losses when Trump’s Atlantic City casinos went bankrupt. After Trump’s election, the family reportedly set their sights on persuading Justice Kennedy to step down so the president could appoint a second justice to the bench."

Read more: lawandcrime.com/high-profile/t

Law & Crime · Justin Kennedy Helped Trump Get Millions in Deutsche Bank Loans | Law & CrimeThe son of former U.S. Supreme Court Justice Anthony Kennedy helped Donald Trump in 2005 secure nearly $700 million in loans to construct a skyscraper in Chicago, despite Trump’s reputation for defaulting on business loans, the New York Times reported on Tuesday evening.

Sen Warren is right, taxpayers shouldn't have to bail out the #bigbanks again when they take undue risks. It's imperative to keep these banks safe. She's accusing Fed CHM Powell of doing the FIN IDU’s bidding by considering changes to a sweeping set of regs. aimed at boosting the capital cushion that lg. US banks would be required to hold.

“You're advocating for slashing in half” the increase in capital required under the proposals -Basel III Endgame."

#CorporateGreed
cnbc.com/2024/06/18/sen-elizab

#BigBanks are problematic, esp. for #climate:

The world’s big banks have handed nearly $7T in funding to the FF IDU since the Paris AGT to limit carbon emissions. Many countries have since promised to reduce carbon emissions, but research shows private interests continued to funnel money to oil, gas & coal cos., which have used it to expand their ops. World’s top 60 banks’ underwriting & lending to >4,200 FF firms & cos. causing the degradation of the Amazon & Arctic.
theguardian.com/environment/ar

The Guardian · Banks have given almost $7tn to fossil fuel firms since Paris deal, report revealsBy Damien Gayle
Replied in thread

@hanf WAS HAT #GELDWÄSCHE MIT DER #PROHIBITION ZU TUN ⁉️

Wie die Geldwäsche-Bekämpfung versagt. 20. September 2020
#Recherchekollektiv deckt Schwächen bei #GeldwäscheBekämpfung auf.

Emilia Díaz-Struck, Agustin Armendariz, Delphine Reuter, Jelena Cosic, Karrie Kehoe, Mago Torres, Margot Williams, Miguel Fiandor Gutiérrez: From a jumble of #secret #reports, damning data on #bigbanks and #dirtymoney. In: #ICIJ.org (International Consortium of #Investigative #Journalists). #COP28 #Cannabis #fff