The financial crisis of 2008 resulted in the establishment of new rules for banks–to help protect against another crash.
Now, those rules are being loosened…as we’re in possibly the worst financial crisis since the Great Depression.
The changes, set to take effect on Oct. 1, will make it easier for big banks to devote more of their resources to investments in venture capital funds and other vehicles—the kind risky of speculation that sent the entire U.S. financial system into a tailspin in 2008.
Regulators on Thursday also eliminated a requirement that banks set aside a certain amount of financial cushion to protect against trading losses. The rollback could free up tens of billions of dollars for Wall Street banks.
As Trump and Republicans have pushed “reopening”, other countries have been more cautious. Now, coronavirus cases are again on the increase in the U.S., as it’s on the decline in the EU. This is disastrous:
In recent weeks, three studies have focused on conservative media’s role in fostering confusion about the seriousness of the coronavirus. Taken together, they paint a picture of a media ecosystem that amplifies misinformation, entertains conspiracy theories and discourages audiences from taking concrete steps to protect themselves and others.
“We are receiving an incredible number of studies and solid data showing that consuming far-right media and social media content was strongly associated with low concern about the virus at the onset of the pandemic,” said Irene Pasquetto, chief editor of the Harvard Kennedy School Misinformation Review, which published one of the studies.
…those who relied on conservative sources, such as Fox News and Rush Limbaugh, were more likely to believe in conspiracy theories or unfounded rumors, such as the belief that taking vitamin C could prevent infection, that the Chinese government had created the virus, and that the U.S. Centers for Disease Control and Prevention was exaggerating the pandemic’s threat “to damage the Trump presidency.”
Some public health officials who recommend coronavirus safety measures have found themselves being threatened.
“I’ve been called a Nazi numerous times,” said Andre Fresco, the executive director of the Yakima Health District. “I’ve been told not to show up at certain businesses. I’ve been called a Communist and Gestapo. I’ve been cursed at and generally treated in a very unprofessional way. It’s very difficult.”
At his regular coronavirus press conferences, Gov. Pete Ricketts makes a point of urging Nebraskans to wear a mask when they go to a store.
But when it comes to the state’s 93 courthouses and other local government offices, he doesn’t want local officials to require masks. In fact, he’s told local governments that they won’t receive any of the $100 million in federal COVID-19 money if their “customers” are required to wear masks.
Google has banned two far-right websites from its advertising platform after research revealed the tech giant was profiting from articles pushing unsubstantiated claims about the Black Lives Matter protests.
The two sites, ZeroHedge and The Federalist, will no longer be able to generate revenue from any advertisements served by Google Ads.
A Google spokesperson said in an email that it took action after determining the websites violated its policies on content related to race.
Google’s ban of the websites comes after the company was notified of research conducted by the Center for Countering Digital Hate, a British nonprofit that combats online hate and misinformation. They found that 10 U.S-based websites have published what they say are racist articles about the protests, and projected that the websites would make millions of dollars through Google Ads.
At least four members of Congress have reaped benefits in some way from the half-trillion-dollar small-business loan program they helped create.
And there are almost certainly more, according to aides and lawmakers. But only the Small Business Administration and Treasury Department have that information, and the Trump administration is refusing to provide any details.
Gunfire broke out during a protest Monday night in Albuquerque to demand the removal of a statue of Juan de Oñate, the despotic conquistador of New Mexico whose image has become the latest target in demonstrations across the country aimed at righting a history of racial injustice.
The injured man, who was not identified, was taken away to the hospital, where he was later listed in critical but stable condition. The police took into custody several members of a right-wing militia who were dressed in camouflage and carrying military-style rifles.
American pride has continued its downward trajectory reaching the lowest point in the two decades of Gallup measurement. The new low comes at a time when the U.S. faces public health and economic crises brought on by the coronavirus pandemic and civil unrest following the death of George Floyd in police custody.
Although a majority of adults in the U.S. still say they are “extremely proud” (42%) or “very proud” (21%) to be American, both readings are the lowest they have been since Gallup’s initial measurement in 2001.
“So I was talking with my mom about #DefundThePolice. And she asked me a question: how could what happened to Rayshard Brooks happen, at this moment, in this uprising? How could police keep…doing this?