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☆ Trump is recreating his web of chaos at home and abroad in a preview of what a second term could look like
▼ + stars: | 2024-04-10 | by ( Stephen Collinson | ) edition.cnn.com time to read: +12 min

CNN —Some top Democrats worry that Americans have forgotten the chaos that raged every day Donald Trump was president, and that voters’ faded recall of the uproar will end up handing him a second term. Trump ally Rep. Marjorie Taylor Greene is threatening to topple Johnson if he dares to pass it. — Nationwide chaos is, meanwhile, spreading in the wake of the Trump-built Supreme Court conservative majority overturning Roe v. Wade in 2022. — Bipartisan efforts to solve a border crisis are in tatters after Trump’s House followers in February killed the most sweeping and conservative bill in years. Yet Trump has vowed to end the war in 24 hours if he wins a second term.

Persons: Donald Trump, ’, Trump, Mike Johnson, Ukraine –, Marjorie Taylor Greene, Johnson, Roe, Wade, Trump’s, Joe Biden, —, Johnson –, Lago Trump, bucked Johnson, Bill Barr, CNN’s Annie Grayer, ” Barr, ”, Barr, “ We’re, Greene, “, ” Greene, CNN’s Manu Raju, We’re, laud, Ronald Reagan’s, Vladimir Putin’s, Volodymyr Zelensky, don’t, CNN’s Frederik Pleitgen, Putin, Christopher Cavoli, ” Cavoli, Biden, majority’s handiwork, he’d, didn’t, –, he’s Organizations: CNN, GOP, Republican, Trump, Washington, Trump -, Mar, Foreign Intelligence, FBI, FISA, Kremlin, Ukraine, European Command, House Armed Services Committee, Arizona Locations: Ukraine, Arizona, tatters, America, Washington, Russia, Georgia, Florida, Russian, Mar, Alabama

☆ Was Jesus a man of color? Why this question matters more than ever
▼ + stars: | 2024-03-31 | by ( John Blake | ) edition.cnn.com time to read: +17 min

But the question over the color of Jesus’ skin is a serious one this Easter, for two reasons. But there are some who say Jesus’ color should stay the same, or that it doesn’t matter at all. He concedes that there are barriers to worshipping a White Jesus that he, a White man, may not understand. Jesus didn’t simply care about the poor, he was poor.”Cleveland tells CNN that people who say Jesus’ color wasn’t important ignore history. She says the experience taught her how much White Christian nationalism and the White Jesus have merged.

Persons: CNN — Christena Cleveland, Thomas ”, Jesus, —, Cleveland, Thor, ”, Jesus didn’t, Megyn Kelly, “, Trump, Donald Trump, Al Drago, Gentile, Warner, he’s, Sallman, Edward J, Blum, Jesus Christ, Mario Tama, Christina L, Barr, ” Barr, he’d, coon, ” Antony Pinol, Pinol, God, Jesus doesn’t, ” Pino, Jeff Hutchens, Albert Cleage, George Floyd, Black, Dante Stewart, ” “, ” Stewart, James Cone, Toni Morrison, White, ‘ ’ Blum, MAGA, White MAGA Jesus, Paul Weaver, Drew Angerer, Jesus ’, Frederick Buechner, John Blake Organizations: CNN, Cleveland, TSA, Fox News, Bloomberg, Getty, CARE, New York Times, Christ, America, Communist Party, Warner, Republican Party, Black Tea News, Pennsylvania State Capitol, Christianity Locations: Cleveland, Hollywood, barbershops, Santa Claus, America, White, Avoca , Pennsylvania, Israel, Port, Prince, Haiti, Africa, Dillon , South Carolina, Asia, Southern, Eastern Europe, Rome, Harrisburg , Pennsylvania, Gaza, New York City

☆ Analysis: Trump and team seek to destroy credibility of his election subversion trial before a date is even set
▼ + stars: | 2023-08-07 | by ( Stephen Collinson | ) edition.cnn.com time to read: +11 min

And as prosecutors seek a speedy trial, he warned that his team will seek to run out the process for years in an apparent attempt to move it past the 2024 election. Trump slams prosecutors, judge, Biden administration and GOP senatorsDefense teams have the right to use every courtroom mechanism within legal bounds to their client’s best advantage. Trump’s team sought an extension of a Monday afternoon deadline to file on the matter, but Chutkan refused their request. Lauro also further revealed his hand on defense strategy by arguing that despite being told multiple times by officials and campaign advisers that he lost the election, Trump’s actions were not criminal since he was convinced he won. Donald Trump … believed in his heart of hearts that he had won that election,” he said on NBC’s “Meet the Press” on Sunday.

Persons: Donald Trump, won’t, Trump, Biden, Mike Pence, William Barr, meanwhile, Barr, Pence, Joe Biden’s, ” Pence, Dana Bash, Ron DeSantis, DeSantis, –, Tanya Chutkan, Obama, Jack Smith, ”, Chutkan, John Lauro, ” Barr, Lauro, Donald Trump …, “, Chris Christie, ” Christie, Christie, CNN Christie Organizations: CNN, Justice Department, Trump, Republican, GOP, Defense, Sunday, Republicans, Prosecutors, Union ” Sunday, House, CBS, Former New Jersey Gov, Union, Capitol Locations: Washington, “ State, United States, Florida, Iowa, South Carolina, Virginia, Former, “

☆ Will inflation come down this year? Investors seek clues in corporate results
▼ + stars: | 2023-07-11 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +6 min

It’s not just in the United States, either. Coming up: Two major measures of inflation in the United States are out this week — the Consumer Price Index on Wednesday and Producer Price Index on Thursday. On Friday morning, earnings reports for the second quarter kick off with JPMorgan Chase, Wells Fargo, Citi and BlackRock all reporting. Her Many Horses joined Wells Fargo in 2018 as senior vice president in middle market banking to focus on rebuilding the bank’s Native American banking effort. Wells Fargo Native American Banking is the leading provider of capital and financial services to Native American and Alaska Native markets, according to a statement from the company.

Persons: they’re, Jerome Powell, Christine Lagarde, ”, Albert Edwards, Edwards, it’s, Lael Brainard, Price, Michael Barr, Barr, ” Barr, Elisabeth Buchwald, Wells Fargo, Dawson, “ Dawson, Ruth Jacks, Wells Organizations: New, New York CNN, Federal, Kansas City Fed, Monetary Fund, European Central Bank, Societe, National Economic Council, JPMorgan Chase, Citi, BlackRock, Rosebud Sioux, Wells, Wells Fargo Commercial Banking, American Banking Locations: New York, United States, Wells Fargo, Wells, Dawson, Rosebud, South Dakota, American, Alaska

☆ Fed plans to boost US banks' reserve requirements; industry gripes
▼ + stars: | 2023-07-10 | by ( Pete Schroeder | ) www.reuters.com time to read: +5 min

The banking industry called the effort misguided and economically harmful. ‘HOLISTIC REVIEW’Barr’s speech served as a comprehensive update on a “holistic” review of bank capital rules that he launched shortly after joining the U.S. central bank in 2022. He said he will seek to apply stricter capital rules to banks with more than $100 billion in assets, expanding the pool of firms that must comply. Dashing industry hopes for any rules relief, Barr also said he did not plan to weaken an existing surcharge on large global banks or leverage rules which the industry argued hampered Treasury market functions. The Fed has itself come under criticism for its oversight of banks involved in this year’s banking crisis.

Persons: Michael Barr, Evelyn Hockstein, ” Barr, Barr, Joe Biden, ”, Tim Adams, Jerome Powell Organizations: WASHINGTON, Federal, Federal Reserve, Banking, Housing, Urban Affairs Committee, Capitol, REUTERS, Center, Institute of International Finance, U.S, Silicon Valley Bank, Republican, House, Monday, Bank Locations: Washington , U.S, Washington, Basel, Silicon, U.S

☆ Banks with at least $100 billion in assets could face higher capital limits
▼ + stars: | 2023-07-10 | by ( Elisabeth Buchwald | ) edition.cnn.com time to read: +4 min

Banks with at least $100 billion in assets would be subject to similar regulation that banks with $700 billion in assets currently face, under Barr’s proposal. These regulations would force banks to hold an additional two percentage points of capital, or an additional $2 of capital for every $100 of risk-weighted assets, Barr said. “Our recent experience shows that even banks [with at least $100 billion in assets] can cause stress that spreads to other institutions and threatens financial stability,” Barr in remarks at the Bipartisan Policy Center. Requiring banks to hold more capital could help mitigate risks that arise when banks are under stress. Barr on Fed’s fight against inflationIn addition to discussing bank regulation, Barr also spoke about the Fed’s plans to get inflation down.

Persons: Michael Barr, Banks, Barr, “, ” Barr, SVB, Kevin Fromer, ”, Dennis Kelleher Organizations: New, New York CNN — Federal, Center, Valley Bank, Financial Services, Wall, Better, CNN Locations: New York

Banks' commercial real estate portfolios performed better than expected, showing $65 billion in losses or 8.8% of average loan losses, slightly down on last year's 9.8%, the Fed said. "Some may ask how all the banks can get a regulatory thumbs-up when the industry just went through a period of turmoil. The test assesses whether banks would stay above the required minimum 4.5% capital ratio. The average capital ratio for the 23 banks was 10.1%, the Fed said. That compares with 9.7% last year, when the central bank tested 34 lenders against a slightly easier scenario.

Persons: Morgan Stanley, Goldman Sachs, Charles Schwab, Michael Barr, ” Barr, Banks, Barr, Lindsey Johnson, Dennis Kelleher, Ian Katz, Pete Schroeder, Caroline Valetkevich, Deepa Babington, Stephen Coates Organizations: Federal, JPMorgan Chase, Bank of America, Citigroup, Charles Schwab Corp, Deutsche Bank's, Financial Corp, U.S . Bancorp, Valley Bank, Wells, JPMorgan, Industry, Consumer Bankers Association, U.S, Treasury, T Bank, PNC Financial, Citizens Financial, Better, Fed, Capital Alpha Partners, Thomson Locations: Big U.S, Wells Fargo, U.S

☆ Trump offers dizzying new justifications for classified documents as former Cabinet secretaries sound the alarm
▼ + stars: | 2023-06-20 | by ( Zachary B. Wolf | ) edition.cnn.com time to read: +9 min

Trump’s defense secretary who preceded Esper, James Mattis, had already turned full throttle against Trump before the 2020 election. He opposes Trump’s prosecution in New York by Manhattan District Attorney Alvin Bragg, a Democrat, for alleged participation in a hush money scheme before the 2016 election. He also questions whether Trump should be prosecuted in connection with January 6, 2021, or his efforts to overturn the 2020 presidential election. Any ultimate prosecution with regard to the 2020 election could be a mistake, Barr said, arguing a candidate should have First Amendment rights. There’s an even larger questionRepublicans can defend Trump against prosecution all they want, but for Barr, that’s not the point.

Persons: Donald Trump, “, ”, Bret Baier, Trump, –, didn’t, William Barr, ” Barr, Barr, Mueller, ‘, ’ Barr’s, Mark Esper, Jake Tapper, ” Esper, Esper, Walt Nauta, James Mattis, Sen, Jeff Sessions –, Trump’s, Mike Pence, NBC’s “, it’s, Jim Jordan, they’re, Attorney Alvin Bragg, he’s, I’ve, Fani Willis, Jack Smith, that’s, Robert Costa, ” Barr wasn’t Organizations: CNN, White House, National Archives, Records Administration, Fox News, Republican, CBS, Free Press, Capitol, Trump, White, Senate, Press, GOP, Ohio, Manhattan, Attorney, Democrat, “ Fox Locations: Iran, Bedminster , New Jersey, “ State, New York, Fulton County , Georgia, Fulton County, Georgia

☆ Analysis: Trump documents case is a test for the justice system he wants to dismantle
▼ + stars: | 2023-06-12 | by ( Stephen Collinson | ) edition.cnn.com time to read: +12 min

At the North Carolina State GOP Convention on Saturday, on his first campaign swing since news of the federal indictment, Trump escalated his assault on America’s system of justice. They’re trying to win the classified documents case in a court of public opinion – in a way that may influence a future jury – long before the ex-president faces a trial. Not to mention, the law does not require documents to be classified for a crime to have been committed. And many Democrats blamed ex-FBI Chief James Comey’s public statements in the case days before the 2016 election for helping to elect Trump. “(What) the Democrats are doing to Trump, it’s just too – it has nothing to do with running the country,” she said.

Persons: Donald Trump’s, Trump, ”, Richard Ben, Jake Tapper ”, William Barr, “, ” Barr, Jack Smith, he’s, Alvin Bragg’s, Joe Biden’s, Fani Willis, Ron DeSantis, Christopher Wray –, Republican –, Justice Department Trump, who’s, –, Jim Jordan, ” Jordan, Dana Bash, Kevin McCarthy, Biden, Barr –, Mueller, Russia –, I’ve, Pence, Clinton, Mike Pence, Hillary Clinton, James Comey’s, Bush, Alberto Gonzales, ” Gonzales, Tapper, Smith, it’s, Kim Bielenberg, CNN’s Kit Maher Organizations: CNN, White, “ Fox, Federal Bureau of Investigation, Justice Department, DOJ, America ”, Republican Party, FBI, Florida Gov, Republican, North Carolina, Convention, GOP, Trump, Department of Justice, ABC, CBS Locations: Miami, Mar, America, Manhattan, Georgia, Fulton County, New Jersey, “ State, Trump’s, Florida, Russia, “, Tulsa , Oklahoma

☆ JPMorgan could be the banking sector’s biggest hero — or biggest risk
▼ + stars: | 2023-05-03 | by ( Krystal Hur | ) edition.cnn.com time to read: +7 min

And as the bank swells in size, so does the potential risk it poses to the nation’s financial system. Some experts say they’re concerned that JPMorgan’s continued intervention during times of crisis has broader implications for the banking sector, the US financial system and its regulation. And with every failed bank that JPMorgan snaps up, the conundrum becomes clearer: JPMorgan is essentially the biggest risk to the financial system — and every time it expands to uphold the sector’s stability, so does its risk to the financial system. It has “that ability once again, to signal to the world that JPMorgan is a fortress, JPMorgan is the ultimate. But recent failures and the missteps that led to them indicate that deep flaws underline the financial system.

☆ Why so many banks seem to fail on Fridays
▼ + stars: | 2023-03-31 | by ( Allison Morrow | ) edition.cnn.com time to read: +7 min

That’s because when banks fail, they have a tendency to do so on Friday. Friday, March 10, 2023: Silicon Valley Bank seized by regulators, the second biggest bank failure in US history. “That was very unusual.”Similarly, Silicon Valley Bank’s unraveling happened at a head-spinning pace nearly three weeks ago. Skinny cansAnyone else notice how skinny cans are these days? My colleague Nathaniel Meyersohn, a reporter with an eagle eye for retail trends, explains that skinny cans are, in fact, in.

☆ Premarket stocks: Banking chaos has been bittersweet for crypto and wine
▼ + stars: | 2023-03-30 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +8 min

But it also gave the fine wine and crypto industry a big boost as panicking investors rushed out of the financial sector and into alternative assets. Bittersweet banking: SVB lent over $4 billion to winery clients since 1994, with over 400 wine industry clients (including wineries, vineyards and vendors) working with the bank’s premium wine division, according to the bank’s website. Recent SEC filings, meanwhile, indicated SVB had about $1.2 billion in outstanding loans to high-end wine clients when the bank collapsed. Circle, the company behind popular stablecoin USDC, said it had about $3.3 billion of its $40 billion in reserves at SVB. The collapse of Signature Bank, a major crypto lender, also had serious implications for the industry.

☆ Premarket stocks: How big of a problem is greedflation?
▼ + stars: | 2023-03-29 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +9 min

“Executives at SVB and Signature [Bank] took wild risks and must be held accountable for exploding their banks,” Warren said. Republican Senators say the Fed’s focus on climate change led to banking turmoilRepublican Senators repeatedly insinuated on Tuesday that the recent US banking turmoil came as a result of the Federal Reserve’s focus on climate change. In his opening statement, Republican Sen. Tim Scott of South Carolina, the ranking member of the banking committee, called the Fed’s focus on climate change a waste of time. It’s what our supervisors do all the time.”In an interview with Montana Public Radio in 2014, Daines said that “the jury’s still out” on whether climate change is real. The public reasonably expects supervisors to require that banks understand, and appropriately manage, their material risks, including the financial risks of climate change.”

☆ What to expect from the Senate hearings on recent bank failures
▼ + stars: | 2023-03-28 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +4 min

New York CNN —Silicon Valley Bank’s liquidity crisis and subsequent downfall sent waves of panic through the financial system in early March, setting off a chain reaction of chaos with which regional banks are still grappling. On Wednesday, the House Financial Services Committee will continue with their own line of questioning. Sen. Brown has called for the executives of Silicon Valley Bank to be held accountable for the bank’s failure. “Our banking system is sound and resilient, with strong capital and liquidity,” Barr said. The failures of SVB and Signature Bank, he wrote, “demonstrate the implications that banks with assets over $100 billion can have for financial stability.

☆ Premarket stocks: Banking chaos could break the strong job market
▼ + stars: | 2023-03-28 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +7 min

New York CNN —The job market has remained strong even as the Federal Reserve has spent a full year attempting to cool off the economy by raising interest rates. But economists think that the recent banking turmoil may be what finally raises unemployment. Even with those big job cuts, the labor market in the United States remains white hot. Since the pandemic, regional banks “have provided a vast majority of lending to small firms, underwriting local small business formation,” said Philip Wool, an analyst with asset manager Rayliant. AI will likely lead to job loss, they wrote, but technological innovation that initially displaces workers has historically created employment growth over long haul.

☆ SVB failure is a ‘textbook case of mismanagement,’ top Fed regulator tells Congress
▼ + stars: | 2023-03-27 | by ( Matt Egan | ) edition.cnn.com time to read: +3 min

“SVB’s failure is a textbook case of mismanagement,” Barr says in testimony to be delivered before the Senate Banking Committee. “Our banking system is sound and resilient, with strong capital and liquidity,” Barr said. In his testimony, Barr discloses that near the end of 2021, bank supervisors found “deficiencies” in the bank’s liquidity risk management. That resulted in six supervisory findings linked to SVB’s liquidity stress testing, contingency funding and liquidity risk management. Barr said the Fed will weigh whether the applying those tougher rules to SVB would have helped the bank manage the risks that led to its failure.

☆ The Cienfuegos Affair: Inside the Case that Upended the Drug War in Mexico
▼ + stars: | 2022-12-08 | by ( Tim Golden | ) www.nytimes.com time to read: +4 min

Seth DuCharme, who had returned to the Eastern District as the interim U.S. attorney after working as one of Barr’s counselors, offered a powerful defense of the prosecutors’ case. “Is it worth it?” Barr asked at one point, according to one official’s notes of the meeting. According to current and former Justice Department officials, Barr later asked one of his aides for an evaluation of the evidence against Cienfuegos. Ebrard told Barr he wanted to see the evidence against Cienfuegos. On Barr’s orders, Robotti and other Eastern District prosecutors hurriedly assembled a file of more than 700 pages of intercepts.

A judge's order approving a special master to review documents the FBI took from former President Donald Trump's Florida home is a deeply flawed and unworkable mess, legal experts told NBC News on Tuesday. Rosenzweig agreed, calling it "absurd" that a special master should be searching out potential executive privilege issues. "I don't know how a special master would proceed, which means inevitable delay and dispute," he said. "I don’t think the appointment of a special master is going to hold up. Saltzburg, who has worked as a special master, said the reason judges generally want special masters "is they want a review to be done quickly and thoroughly, and they don’t have the time to do it themselves."

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