Posts

The IMF, BASEL III and Black Banks

Image
IMF Annual Meetings
Small Is Beautiful – Regulatory
Approaches for Non-Systemic Banks
October 14, 2017

Question about Black banks at a session on: How can a more proportionate approach to regulation of small banks be applied to align more closely with their size and business models?

Questioner:
William Michael Cunningham
Creative Investment Research

Speakers:

David Lipton, First Deputy Managing Director, IMF

Michael Gibson, Director of the Division of Banking Supervision and Regulation, Federal Reserve Board

World Bank and Race

Image

The Next COINTELPRO: Black Lives Matter as a violent threat

Image
According to an official assessment obtained by Foreign Policy Magazine, the US government has declared “black identity extremists” like the "Black Lives Matter" movement a violent threat to the country. This assessment was made by the FBI’s counter-terrorism division.

The finding, which carries with it the authority of a major counterterrorism arm of the United States, authorizes agencies of the Federal Government to use extraordinary means to protect the country from this erroneously declared threat. This might include spying on, rounding up, or forcibly detaining BLM activists and their supporters.

History has shown what this means. COINTELPRO, "a series of covert, and often illegal, projects, starting in 1956 and conducted by the United States Federal Bureau of Investigation (FBI), aimed at surveilling, infiltrating, discrediting, and disrupting American political organizations."

FBI records show that COINTELPRO resources targeted groups and individuals that t…

Texas Economic Forecast 2017

Texas Economic Forecast 2017: https://youtu.be/9wW5I1AcSPE

The SEC, ICOs and roaches

Image
In a statement straight out of the Ministry of Public Enlightenment, a member of the U.S. Securities and Exchange Commission's (SEC) division of enforcement "compared those seeking to leverage the blockchain use case improperly to cockroaches."

To be specific, SEC Enforcement Division co-director Steven Peikin said "roaches kind of crawl out of the woodwork and try to scam money off of investors."

Of course, he should know.

According to the Anne Frank Guide, this type of language was a key feature of nazi propaganda: "Jews are described everywhere as a threat to Germany and the German way of life that had to be dealt with quickly and harshly. They were even compared to rats and cockroaches."

The issue is this: it is impossible for Mr. Peikin to know which ICOs are scams unless he can look into the hearts of ICO issuers to determine their true motivation. He knows this. We know this. He must, then, actually be referring to all ICOs. This is the same t…

What's Going On with Bitcoin Now? Brendan Cody, Impact Investing Intern, George Washington University

Image
The meteoric rise of cryptocurrencies supported by the blockchain has regulatory agencies, financial institutions and central banks around the globe asking the same question: What in the world is going on here?











Applications in finance, data storage, cybersecurity, and government merit the attention blockchain technology has received. As of last week, Bitcoin (the first and most notable cryptocurrency) approached $5,000, up +600% on the year compared to a 20% return for the Dow Jones Industrial Average over the same time. (Bitcoin has since returned to the more mundane level of $4,470 as of 9/5/17) Other cryptocurrencies ,including Litecoin and Ethereum, have seen a similar pattern of rise, retreat and rise.

Governments and financiers acted decisively in the past month in an attempt to seemingly make up for lost time. The Securities and Exchange Commission issued new regulations on the proliferation of Initial Coin Offerings (see: the American Banker Newspaper BankThink section - SEC t…

HR 3441, the Save Local Business Act and Black Unemployment

Image
Eight years after the Great Recession, many in the country still struggle economically. While we continue to look forward positively with respect to the future, we need economic policy initiatives that promote growth and fuel our entrepreneurial spirit. Technology has allowed many more people to work for themselves and build economic security. This is even truer for the African American community, which has traditionally been locked out of opportunities in corporate America, but for whom, as the chart below shows, is starting to see some modest improvement. Economic independence is one key to our future. There are many pathways to achieving the American dream. Some of these pathways lead to entrepreneurship and to the use of empowering and flexible business models, such as franchising and the shared economy.
Recent economic policy initiatives may serve to block the door to opportunity. Specifically, federal and state efforts to expand the definition of a “joint employer” beyond the …