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P S s X G oy T o S ugh Iy
Wednesday, March 15, 2023
BY JULIA CLAIRE & CROOKED MEDIA
- January 6 insurrectionist lawyer Carol Stewart, talking about people who came in through the Capitol windows
RETURN TO LENDER %
In the wake of Silicon Valley Bank’s collapse, things are feeling a little unstable around these parts!
* Global financial markets experienced more turbulence today after Credit Suisse announced it found “material weakness” in its
financial reporting, triggering a selloff of the company’s shares, which dropped over 20 percent in value almost immediately.
European banking stocks more broadly also took a tumble, dragging down all of the major stock indexes.
* Swiss regulators said that Credit Suisse can access money from the central bank if needed, an emergency measure meant to
assuage fears resulting from the disclosure. Swiss financial regulator FINMA and the Swiss central bank filed a joint statement
assuring that Credit Suisse “meets the capital and liquidity requirements imposed on systemically important banks.”
* Fears of broader weakness in the global financial system have been revived in the past week, but the risk of “contagion” from
Credit Suisse to other European banks, at least for now, appears to be relatively low. Germany’s financial supervisory
authority also stated that it sees no direct risk of the problem spreading, and that the German banking system is robust and
capable of weathering higher interest rates. Despite assurances from the banking world (which many people rightly take with a
grain of salt!), concern remains…pretty fucking high!
%% "
The regulatory response to SVB and Credit Suisse have been prompt and at least temporarily stabilizing, but the confluence of
current market conditions make this a vulnerable time.
* In times of global financial peril, we are reminded once again that capitalist economic policy and corporate governance, well,
it can have some negative consequences! Silicon Valley Bank executives not only gave themselves bonuses as the company was
going down in flames on Friday, but they also sold off tens of millions of dollars in company stock over the past two years,
raising (pretty obvious!!) questions about insider trading. SVB’s CEO Greg Becker sold almost $30 million of stock over the
past two years, and Rep. Ro Khanna (D-CA) called on him to return the money to depositors. Yes I’m sure he will do the right
thing!!
* The Securities Exchange Commission recently created new rules to increase disclosure, transparency, and timelines for scheduled
stock sell-offs, in order to weed out this kind of impropriety. Under the new rules, Becker’s sales would not have been
allowed. Cool cool cool!! SVB was the go-to bank for many startups, but it also housed a great deal of cryptocurrency money. So
the federal government is now insuring investments over the $250,000 limit even for those who invested big in an unregulated
currency. After a huge crash and months of poor performance, cryptocurrency rallied on monday after the lowercase-b bailout.
Seems bad to me!
Abuses in the financial sector are like guns: they’re ubiquitous in America, they cause catastrophic harm to millions of people,
and the government refuses to regulate them.
QLR RO SR
Congratulations to Hysteria for being featured in Amazon Music’s Women in Podcasting collection. Throughout Women’s History Month,
this collection shines a light on the women doing the work to break barriers and recognizes the women in podcasting that have
made an impact on society, history, entertainment and beyond.
Each week on Hysteria, Political commentator and comedy writer Erin Ryan and former White House Deputy Chief of Staff Alyssa
Mastromonaco are joined by a bicoastal squad of funny, opinionated women to talk through everything from reproductive rights to
rom-coms to the cultural stories that are affecting women’s lives.
Tune in every Thursday for new episodes on Amazon music or your favorite podcast platform, and subscribe to the Hysteria Youtube
channel for more.
UNDER THE RADAR
As the craven Trump-appointed Texas judge weighs whether or not to invalidate the FDA’s long-standing approval of mifepristone,
the most widely-used medication to terminate pregnancy, it’s clear that the worst of what we feared after the fall of Roe may be
yet to come. Republicans in South Carolina are pushing legislation that would make any person who has an abortion subject to the
state’s homicide laws, which are punishable by death. The bill is called the “South Carolina Prenatal Equal Protection Act” and
describes anything from an embryo with a handful of cells up to a fully gestated baby as a “person.” South Carolina law hands down
death penalty sentences or minimum sentences of 30 years in prison to people convicted of murder. The measure includes no
exceptions for rape or incest. Over a dozen Republican lawmakers have co-sponsored the bill. South Carolina hasn’t acted on the
measure yet, but Republicans hold control of both houses of the state legislature and the governorship. Thank you once again to
everyone who told women they were “exaggerating” about what Republicans would do in a post-Roe world!
LR RN
Investigators in Fulton County, GA, reportedly have another audio recording of a phone call from disgraced former president Donald
Trump—this one to the Georgia Speaker of the House—in which he attempted to toss out Joe Biden’s victory in the state.
In other Trump criminal proceedings, former Trump lawyer Michael Cohen wrapped up his second day of testimony before a New York
grand jury regarding the “alleged” hush money payment Cohen made at Trump’s behest to adult film actress Stormy Daniels. Daniels
met with Manhattan prosecutors today.
Gov. Ron DeSantis (R-FL) revoked the Hyatt Regency Miami hotel’s liquor license because it hosted “A Drag Queen Christmas.”
Speaking of Meatball Ron, allies of disgraced former president Donald Trump have filed a complaint with the Florida Commision on
Ethics accusing DeSantis of violating campaign-finance and ethics rules as he continues his shadow run for the GOP presidential
nomination without formally declaring his candidacy.
Sens. Mark Kelly (D-AZ) and Ted Budd (R-NC) introduced a bill to mandate tracking systems on weather and research balloons so the
U.S. military can chill the hell out.
State officials in Texas announced a takeover of Houston’s public school district, home to over 200,000 students, in a move
Democrats say is a politically motivated exertion of control by the administration of Gov. Greg Abbott (R-TX) over the
increasingly blue city.
Honda recalled 500,000 cars in the United States and Canada due to a problem with the front seat belts. Elon Musk would never.
The Kremlin announced that it will try to recover the wreckage of the American drone it struck down yesterday.
IR
Something strange is happening on Pennsylvania Avenue, and it’s not Joe Biden ordering ice cream deliveries in the winter. A slew
of real estate sales have occurred two blocks east of the Capitol building, and the properties have a common buyer: allies of
disgraced former president Donald Trump. The Conservative Partnership Institute, a nonprofit (sure) led by Trump’s former chief of
staff Mark Meadows, bought a total of $41 million in properties just steps from the Capitol, and in the organization’s annual
report, CPI announced that its aim is to transform that particular swath of real estate into a sort of MAGA campus it calls
“Patriots’ Row.” Republicans are always going on about their disdain for DC and how it is run so it’s interesting that they are
taking somewhat clandestine measures to buy up large swaths of it! It’s also borderline unprecedented for a nonprofit to purchase
so many properties (nine in the past year!) in such a close proximity (on one street) in such a short period of time.
Pro-insurrectionists having headquarters right next to the Capitol doesn’t feel great! FBI, u up?
WHAT A SPONSOR
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IR DR R A %
President Biden announced today that the government will subject 27 drugs to inflation penalties, aiming to reduce out-of-pocket
costs for Medicare recipients and lower prescription drug prices more broadly.
A Nebraska lawmaker has been filibustering an anti-trans bill for…three weeks!!!
Medicaid expansion passed the North Carolina senate 43-2, inching one step closer to becoming law.
Rohita Kadambi S @RohitaKadambi 50 years old 75 years old Doesnt eat bread SEYCY o CETe Avoids alcohol Cocktail queen Avoids sugar
Enjoys dessert Jade eggs in genitals Jeffrey Garten 11:12 PM - Mar 14, 2023 - 668K Views 1,010 Retweets 131 Quotes 16.7K Likes
iR UIRLITA
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