Emeritus Prof Christopher May2d ago

What could possibly go wrong?

The US Federal Reserve (that regulates US banks) is about to reduce the capital adequacy requirement for banks (raised in the wake of the 2008 financial crisis).

Of course, nearly 20 years after the global financial crisis, regulators & bankers may say they've learned the lessons of 2008, but what they really mean is they've (wilfully) forgotten them.

Just one more act bringing a crisis nearer (as if attacking Iran wasn't;t enough)!

#politics #banking
h/t FT

Show threadKermode
@ChrisMayLA6 It's not only those kinds of things.
Reducing or removing environmental protections are a Big Other.
The USA is going backwards in time and in short order.
https://morethanjustparks.substack.com/p/blm-announces-plan-to-fell-oregons
And on mercury, CO2, lead... USians are right screwed.
And lots of other things. The misinformation on vaccinations will kill and maim many USians in the coming years. Health and safety, medical coverage, unions, food stamps - nearly any advance in USian society since WWII is being rolled back - especially 80% taxes on the filthy rich to near zero, while increasing the tax burden on the poor to pay for the USA's military-based economy.
I'm much closer to it than you are, and I'm watching an implosion into autocracy I think.
BLM Announces Plan to Fell Oregon's Last Great Forests

One billion board feet per year... 30 days to make your voice heard.

More Than Just Parks
Mar 19 at 10:51pmWeb
Show threadEmeritus Prof Christopher May2d ago

@gemlog

Yes, even from this distance it looks like that...