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☆ Paul Reubens, Pee-wee Herman star, dead at 70
▼ + stars: | 2023-07-31 | by ( Lisa Respers France | ) edition.cnn.com time to read: +5 min

CNN —Paul Reubens, who found fame as the quirky man-child character Pee-wee Herman, has died, his publicist announced. It was after college that Reubens created the iconic character Pee-wee Herman while a member of the famed Los Angeles improv group, The Groundlings. Paul Reubens as Pee-wee Herman in 2009. The HBO broadcast of the show introduced the Pee-wee Herman character to a national audience. In 2010, he produced, co-wrote and starred in an updated revival of “The Pee-wee Herman Show” in Los Angeles.

Persons: CNN — Paul Reubens, Herman, “, Paul Reubens, ”, “ Paul, ” Reubens, I’ve, Reubens, Nick Burns, Camelot, Walt Disney, Danny Moloshok, Stephen Sondheim, Judd Apatow, Laurence Fishburne, Natasha Lyonne, Jimmy Smits, Sandra Bernhard, S, Epatha, ” “, Raymond, ” Paul Reubens, Isabella Vosmikova, Friend, Adam Shankman Organizations: CNN, Ringling Bros, Barnum, Southside Elementary, The Players, Brookside Junior High, Boston, California Institute of the Arts, Walt, HBO, CBS, Netflix, NBC, ” “ Reno, Disney, Entertainment Locations: American, Peekskill , New York, Sarasota , Florida, Sarasota, “, Los Angeles, Angeles

LONDON, July 27 (Reuters) - Barclays (BARC.L) warned on Thursday of growing pressure on its UK business and missed forecasts for its investment bank as a global corporate dealmaking slump persists, sending its shares down despite announcing a bigger share buyback. The British bank reported first-half pretax profit of 4.6 billion pounds ($6 billion), in line with the average analyst forecast of 4.5 billion pounds, and higher than the 3.7 billion pounds in the same period a year ago. The bank set aside 896 million pounds in the six-month period for potentially soured loans, more than double the 341 million pound charge the previous year. European rivals are also struggling, with Deutsche Bank reporting on Wednesday investment bank revenues would fall this year instead of staying flat. Several investors told Reuters this month they wanted the bank to prioritise returning more capital to shareholders instead of investing it, after the lender completed a 500 million pound buyback in April.

Persons: Jefferies, Goldman Sachs, Jeremy Barnum, Lawrence White, Iain Withers, Sinead Cruise, Mark Potter Organizations: Barclays, Banking, JPMorgan, United, Citigroup, Deutsche Bank, Thomson Locations: Britain, United States

☆ Ann Roth Is Hollywood’s Secret Weapon
▼ + stars: | 2023-07-23 | by ( Maureen Dowd | More About Maureen Dowd | ) www.nytimes.com time to read: +1 min

“It was probably Jude Law and Matt Damon in ‘The Talented Mr. Ripley,’” she said. “Not grain.”After all, as Ms. Roth said slyly, “I’m the world’s oldest costume designer, damn it!”Confirm or DenyMaureen Dowd: You have been wearing blue toenail polish every day since 1953. Ann Roth: Mike Nichols asked me to come to dinner with Anthony Minghella at the fancy Chinese restaurant in Beverly Hills, Mr Chow. She taught me about a fabric that was made in Czechoslovakia and found in Switzerland called silk souffle, which really doesn’t exist anymore. Cameramen sometimes liked to use it on their lenses because it made people look better.

Persons: Jude Law, Matt Damon, ‘, Ripley, ’ ”, Mamma Mia, ’, Mia, Streep, Roth, slyly, “, Maureen Dowd, Ann Roth, Mike Nichols, Anthony Minghella, Mr Chow, Minghella, Mike, “ You’re, Miles White, Marlene Dietrich, Miles Organizations: Ringling Bros, Barnum, Bailey, “ Locations: Beverly Hills, Las Vegas, Czechoslovakia, Switzerland

☆ Factbox: U.S. banks increase reserves for commercial real estate exposure
▼ + stars: | 2023-07-21 | by ( Matt Tracy | ) www.reuters.com time to read: +5 min

While regional banks carry the greatest exposure to the commercial real estate (CRE) sector, second quarter earnings show that a number of big banks have prepared for potential defaults, primarily on office loans. However, Borthwick noted the bank's office CRE exposure was low relative to its overall loan portfolio, at 2%. CRE loans represented just 15% of the bank's overall lending book, while only 1% of the CRE loan portfolio was office-related. WELLS FARGO (WFC.N)The bank said it had a $949 million increase in its allowance for credit losses, primarily CRE office loans. WEBSTER FINANCIAL CORP (WBS.N)The regional bank's nonperforming CRE loans ticked up to $47.9 million last quarter from $35.8 million in the first quarter.

Persons: Goldman Sachs, Andrew Kelly, Alastair Borthwick, Borthwick, GOLDMAN SACHS, markdowns, Denis Coleman, Jeremy Barnum, WELLS, Charlie Scharf, Bruce Van Saun, Dominic Ng, East, James Leonard, MORGAN STANLEY, Webster, Glenn MacInnes, John Ciulla, Matt Tracy, Michelle Price, Nick Zieminski Organizations: New York Stock Exchange, REUTERS, U.S, AMERICA CORP, GOLDMAN SACHS GROUP INC, Goldman, JPMORGAN CHASE &, JPMorgan, Citizens, EAST WEST BANCORP, East, BANCORP, WEBSTER FINANCIAL, Thomson Locations: New York City , New York, U.S, California, CRE

So far the signs of revival has not translated into strong investment banking revenue, but markets see a better outlook. Goldman took $1.4 billion in writedowns in the second quarter tied to its consumer businesses and real estate investments. In discussing their earnings, Wall Street executives cited a flurry of initial public offerings as an encouraging sign that activity in capital markets will pick up after months in the doldrums. The lender was buoyed by a slight pickup in equity capital markets and a focus on its middle-market business. At Citigroup (C.N), CEO Jane Fraser warned on Friday that "the long-awaited rebound in investment banking has yet to materialize."

Persons: Morgan Stanley, Brendan McDermid, dealmaking, Goldman Sachs, Morgan, ”, Rick Meckler, Goldman, Meckler, Mike Loewengart, David Solomon, Sharon Yeshaya, Alastair Borthwick, Jane Fraser, Mark Mason, Jeremy Barnum, Tatiana Bautzer, Sinead Carew, Saeed Azhar, Noor Zainab Hussain, Lananh Nguyen, Nick Zieminski Organizations: New York Stock Exchange, REUTERS, Cherry Lane Investments, Wall Street, Morgan, Reuters, Bank of America's, Citigroup, JPMorgan, Thomson Locations: New York City, U.S, New Vernon , New Jersey, writedowns, New York, Bengaluru

☆ Premarket stocks: Bank CEOs are already complaining about new regulations they haven't even seen yet
▼ + stars: | 2023-07-19 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +7 min

Investors, worried about the economic atmosphere and the recent regional banking collapse, breathed a sigh of relief at the results. Jamie Dimon, head of JPMorgan Chase, commented on the bank’s Friday earnings call that non-bank financial rivals were “dancing in the streets” as regulators get ready to increase bank capital requirements. “This is great news for hedge funds, private equity, private credit, Apollo, Blackstone,” Dimon said of the proposed regulations. The change, they say, will increase the financial system’s resilience following the failures of three regional banks earlier this year. “The capital in the industry is sufficient,” said Bank of America CEO Brian Moynihan on his company’s earnings call Tuesday morning.

Persons: Jamie Dimon, JPMorgan Chase, ” Dimon, ”, Jeremy Barnum, Barnum, don’t, Brian Moynihan, “ They’ve, Morgan Stanley, James Gorman, Elizabeth Warren, Richard Blumenthal, Tammy Duckworth, Martin Gruenberg, “, Taylor Marr, That’s, they’re, Bryan Mena, Neil Saunders Organizations: CNN Business, Bell, New York CNN, Silicon Valley Bank, JPMorgan, Blackstone, of America, CNBC, Valley Bank, Signature Bank, Federal Deposit Insurance, Redfin, Retail, Commerce Department Locations: New York, Silicon, Basel, Massachusetts, Elizabeth Warren , Connecticut

July 18 (Reuters) - Bank of America (BAC.N) beat Wall Street estimates for second-quarter profit on Tuesday as it earned more from customers' loan payments, while its investment banking business fared better than expected. The bank reported a 7% rise in investment banking fees to $1.2 billion, driven by higher interest payments and leasing revenue, the company said. The bank reported a profit of 88 cents per share in the second quarter, beating analysts' average expectations of 84 cents, according to IBES data from Refinitiv. BofA's net interest income (NII) rose 14% to $14.2 billion in the second quarter. The financial health of consumers underpins BofA's consumer banking unit, whose revenue rose 15% to $10.5 billion.

Persons: Brian Moynihan, Wells, JPMorgan Chase's, Jeremy Barnum, Manya Saini, Saeed Azhar, Lananh Nguyen, Anil D'Silva Organizations: Bank of America, JPMorgan Chase, Federal Reserve, JPMorgan, U.S, Thomson Locations: U.S, Refinitiv, dealmaking, Bengaluru, New York

☆ Bulls and bears are locked in a battle for Wall Street
▼ + stars: | 2023-07-17 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +9 min

New York CNN —Bulls and bears have always engaged in battle on Wall Street. Before the Bell: Why is there a growing division between bulls and bears? If a rally continues, the bulls will say that the bears missed it. If it moves in the other direction, in a swift fashion, then the bears will say that the bulls were overly optimistic. “I don’t know if it’s going to lead to a soft landing, a mild recession or a hard recession,” Dimon said during the call.

Persons: Liz Young, Bell, Young, we’re, Jamie Dimon, I’ve, Matt Egan, Dimon, JPMorgan Chase, “ tailwinds, ” Dimon, ” Jeremy Barnum, ” Barnum, Coco Chanel ’, Ellie Stevens, Shein, “, Coco Chanel, Yves Saint Laurent, Xu Yangtian, Chris Xu, “ SHEIN, ” Organizations: CNN Business, Bell, New York CNN — Bulls, Big Tech, JPMorgan, CNN, JPMorgan Chase, First Locations: New York, Ukraine, First Republic, California

☆ JPMorgan, Wells Fargo prepare for losses on office loans
▼ + stars: | 2023-07-14 | by ( Matt Tracy | ) www.reuters.com time to read: +3 min

July 14 (Reuters) - JPMorgan Chase (JPM.N) and Wells Fargo (WFC.N) said on Friday they set aside more money for expected losses from commercial real estate loans, in the latest sign that stress is building up in the sector. Wells Fargo reported higher losses in CRE due to its office loan portfolio. "While we haven't seen significant losses in our office portfolio to-date, we are reserving for the weakness that we expect to play out in the market over time," Wells Fargo CEO Charlie Scharf said. The bank, which acquired First Republic Bank in May, reported $1.1 billion in credit loss provisions driven by its office portfolio. Some $20 billion of office commercial mortgage-backed securities, which bundle together individual loans, mature in 2023, according to real estate data provider Trepp.

Persons: JPMorgan Chase, Wells, Wells Fargo, Charlie Scharf, Jeremy Barnum, Matt Tracy, Michelle Price, Lananh Nguyen, Nick Zieminski Organizations: JPMorgan, Republic Bank, U.S, Federal, Regulators, McKinsey Global Institute, McKinsey, Thomson Locations: Wells, CRE, U.S

Federal banking regulators are expected to introduce proposals in the coming weeks requiring banks to keep more cash on hand to ensure the financial system remains stable. The nation's largest lender may increase prices or abandon some products as a way to offset the higher capital costs, Barnum said. One key new expected rule would require banks to hold more capital against certain trades. Meanwhile, banks are staying cautious and preserving capital until there is more clarity around the rules. Wells Fargo was expecting capital requirements to climb and weighing the potential effect on stock buybacks, CEO Charlie Scharf told investors on its call.

Persons: Michael Barr, Jeremy Barnum, Barnum, Jane Fraser, Wells Fargo, Charlie Scharf, Blackstone, Jamie Dimon, Pete Schroeder, Nupur Anand, Saeed Azhar, Tatiana Bautzer, Lananh Nguyen, Megan Davies, Susan Heavey Organizations: WASHINGTON, Federal, JPMorgan Chase's, JPMorgan, U.S, Treasury, Industry, Blackstone, Apollo, JPMorgan Chase, Thomson Locations: Washington, New York

☆ U.S. banks point to resilient but slowing economy, flag risks ahead
▼ + stars: | 2023-07-14 | by ( ) www.reuters.com time to read: +3 min

U.S. consumers still have a healthy balance sheet, the banks said, but warned spending was slowing and there had been a modest deterioration in some consumer debt. "The U.S. economy continues to be resilient," JPMorgan Chief Executive Jamie Dimon said. Investors have worried that high interest rates could push the economy into a recession, but the outlook remains uncertain. Wells CEO Charlie Scharf said the range of scenarios for the economy should narrow over the next few quarters. For now, the economy is performing better than many expected but will likely continue slowing.

Persons: JPMorgan Chase, Wells Fargo WFC.N, Wells, Jamie Dimon, Jeremy Barnum, Charlie Scharf, Larry Fink, Wells Fargo, Scharf, Morgan Stanley, Goldman Sachs, Niket Nishant, Noor Zainab Hussain, Mehnaz Yasmin, Manya, Nupur Anand, Saeed Azhar, Megan Davies, Paritosh Bansal, Nick Zieminski Organizations: JPMorgan, Citigroup, Citi, Federal Reserve, CNBC, Wells, Bank of America, Manya Saini, Thomson Locations: Wells, U.S, Bengaluru, New York

At JPMorgan, the nation's largest bank, average deposits fell 6% in the second quarter to $2.4 trillion from a year earlier. The central bank reported total bank deposits fell 1.2% to $17.26 trillion through the week ended June 28 versus $17.47 trillion at the end of March. For large banks, deposits fell 1.3% to $10.80 trillion from $10.95 trillion during same period, the Fed data showed. And for small banks, deposits fell 0.9% to $5.18 trillion from $5.23 trillion. The declines were notably smaller than the first-quarter drops of 2.4% for large banks and 3.3% for small banks.

Persons: Morgan Chase, Mike Segar, Wells, Mike Santomassimo, Jeremy Barnum, Jamie Dimon, Kenneth Leon, Saeed Azhar, Dan Burns, Nupur Anand, Tatiana Bautzer, Lananh Nguyen, Mark Potter Organizations: Co, New York City, REUTERS, JPMorgan, First Republic Bank, Federal Reserve, Thomson Locations: New York, Wells Fargo

☆ What layoffs? JPMorgan Chase is growing headcount in every division despite a dealmaking drought and possible economic slowdown.
▼ + stars: | 2023-07-14 | by ( Emmalyse Brownstein | ) www.businessinsider.com time to read: +5 min

Wall Street has suffered severe layoffs amid a dealmaking drought and shaky economic outlook. Headcount is up in every division, not including thousands of First Republic employees onboarded in July. Jobs have grown in every division despite the non-stop news about industry layoffs (think Goldman) and consolidation (think Credit Suisse). It has also cut about 40 high-paying investment banking jobs, and about 1,000 jobs from its home lending unit. The bank also beat Wall Street's expectations and has again become a challenger to Goldman Sachs' spot as No.

Persons: JPMorgan Chase, Jobs, Goldman, It's, headcount, Goldman Sachs, Morgan Stanley, May, JPM, Jamie Dimon, JPMorgan's, Jeremy Barnum Organizations: JPMorgan, First Republic, onboarded, Suisse, JPMorgan Headcount, Bank Division, Consumer, Community Bank, Investment Bank, Bank, Wealth Management, First, Republic, Wall, Credit Suisse, UBS, Reuters, Global, Basel III Locations: Louis , Missouri, First Republic, San Francisco, China, Ukraine, Basel

☆ When You Can’t Believe What You’re Seeing
▼ + stars: | 2023-07-14 | by ( Rory Smith | More About Rory Smith | ) www.nytimes.com time to read: +1 min

Nobody is quite sure where the term “kayfabe” originated. It may be a bastardized form of pig Latin, something to do with the actual word “fake.” It may have its roots in the culture of wandering 19th-century carnivals, the world inhabited by P.T. Barnum and the confidence men and the salesmen who sold actual snake oil. Its modern usage, though, is sufficiently specific that only a relatively small proportion of people would even have a sense of what it means. For decades, wrestlers were expected to keep kayfabe even when they were off the clock.

Persons: ”, . Barnum, Abraham Josephine Riesman delineates, Vince McMahon —, Donald Trump Organizations: World, Entertainment Locations: “

☆ Apple's Vision Pro isn't just a 'headset,' stupid — it represents the next big frontier of spatial computing
▼ + stars: | 2023-06-09 | by ( Peter Csathy | Fearless Media | ) www.businessinsider.com time to read: +8 min

He writes that Apple's latest $3,500 gadget is not just a VR "headset," but a bigger tech opportunity: spatial computing. Apple at long last revealed its long-anticipated "next big thing" — its Vision Pro — two days ago at its annual WWDC. "Minority Report" come to lifeViewed with the broader lens it deserves, however, Apple's Vision Pro represents so much more. It represents the dawn of an entirely new mass market and transformational tech opportunity of so-called "spatial computing." Spatial computing is essentially the film "Minority Report" come to life, three-dimensional computing divorced from the confines of physical screens.

Persons: Peter Csathy, Nanea Reeves, Tim Cook, Ralph Lauren, Joanna Popper, Bob Cooney, Evan Helda, Pierre, Stuart Rostain, Amy Allison, Tripp, Mark Zuckerberg, Apple's, Steve Jobs, Cook, Bob Iger, Jobs, Iger, Read Organizations: Creative Media, Morning, Fearless Media, Apple, CAA, Barnum, Amazon, Spatial Computing, European VRDays Foundation, Women, Disney, Pixar, Creativie Media Locations: Malibu, Netherlands

☆ Factbox: The JPMorgan executives who will update investors on First Republic, strategy
▼ + stars: | 2023-05-22 | by ( Nupur Anand | ) www.reuters.com time to read: +5 min

REUTERS/Marco... Read moreNEW YORK, May 22 (Reuters) - JPMorgan Chase & Co (JPM.N) executives will update investors on its takeover of failed First Republic Bank, which has made the biggest U.S. bank even bigger. CEO Jamie Dimon and other top executives will present their strategies at an investor day at its headquarters in New York on Monday. Lake and Piepszak are among the executives in charge of integrating First Republic Bank after it was shuttered by authorities on May 1. JEREMY BARNUM, CHIEF FINANCIAL OFFICERBarnum was promoted to CFO in 2021 after leading global research. The finance chief joined JPMorgan in 1994, serving in various roles including CFO and chief of staff for the investment bank.

☆ Don't let the patriotic talk fool you. Here are 5 ways JPMorgan stands to win from buying First Republic Bank.
▼ + stars: | 2023-05-01 | by ( Emmalyse Brownstein | Carter Johnson | ) www.businessinsider.com time to read: +8 min

JPMorgan on Monday morning emerged as the white-knight buyer of First Republic Bank. More wealth advisors for high-net-worth clientsJPMorgan's wealth management ambitions will also get a boost from its purchase of First Republic. The smaller bank has about 150 high-end advisors who will join JPMorgan's brokerage business unit, JPMorgan Advisors. "If they can retain the wealth advisors and not lose too many more, I think it will be very advantageous. "This helps bring the bank crisis phase to the home stretch in our view," wrote Wells Fargo's Mayo.

☆ Inside the Wild World of Celebrity Keynote Speakers: Drugs, Alcohol
▼ + stars: | 2023-04-23 | by ( David Kushner | ) www.businessinsider.com time to read: +31 min

"I never saw myself as a speaker, let alone a motivational speaker," Leonard tells me while his assistant irons his jeans. 'When I ramble," Hunter told me, "hit me in the leg!" Every plane had been grounded, including the one stuck on the tarmac with an increasingly inebriated Hunter Thompson trapped inside. But by far the most all-consuming task was booking gigs for Hunter Thompson. Just before a debate with G. Gordon Liddy at Brown University, Hunter demanded that Betsy Berg, whom I now worked alongside at GTN, score him some crystal meth.

☆ More US consumers are falling behind on payments
▼ + stars: | 2023-04-18 | by ( Tatiana Bautzer | ) www.reuters.com time to read: +4 min

REUTERS/Andrew KellyNEW YORK, April 18 (Reuters) - Consumers are starting to fall behind on their credit card and loan payments as the economy softens, according to executives at the biggest U.S. banks, although they said delinquency levels were still modest. Citigroup also made larger provisions for credit losses even as it brought in more revenue from clients' interest payments on credit cards. "We have tightened credit standards specifically as a result of the current market environment in cards, we continue to calibrate our credit underwriting based on what we're seeing based on macroeconomic trends," Mason said. "The consumer's in great shape in terms of credit quality by any historical standards. Some of JPMorgan's customers were starting to fall behind on payments, but delinquency levels were still modest, said Jeremy Barnum, finance chief at the largest U.S. lender.

The largest U.S. lender gained $50 billion in deposits at the end of March, its first-quarter earnings report showed. That compares to Citigroup Inc (C.N), where deposits were largely flat, and a decline at Wells Fargo & Co (WFC.N). Investors have closely scrutinized deposits after the collapses of Silicon Valley Bank and Signature Bank last month rattled markets, prompting regulators to step in to guarantee their customers' deposits. JPMorgan reported a 2% rise in deposits to $2.38 trillion at the end of the quarter compared with the end of 2022. Deposits at Wells Fargo slid 2% to $1.36 trillion as customers moved their money to higher-yielding accounts and products.

[1/2] Signage is seen at the JPMorgan Chase & Co. New York Head Quarters in Manhattan, New York City, U.S., June 30, 2022. While the crisis is not over yet, CEO Jamie Dimon said he expected the tumult from bank failures in March to eventually pass. The U.S. consumer and the economy remain robust, Dimon said, while cautioning that the banking crisis could turn lenders more conservative and impact consumer spending. "However, the storm clouds that we have been monitoring for the past year remain on the horizon, and the banking industry turmoil adds to these risks." It is expected to remain flat for the rest of 2023, the executives said.

☆ JPMorgan Chase is set to report first-quarter earnings – here’s what the Street expects
▼ + stars: | 2023-04-14 | by ( Hugh Son | ) www.cnbc.com time to read: +3 min

JPMorgan Chase is scheduled to report first-quarter earnings before the opening bell Friday. Here's what Wall Street expects:Earnings: $3.41 per share, 29.7% higher than a year earlier, according to Refinitiv. For instance, JPMorgan likely benefited from an influx of deposits after Silicon Valley Bank and Signature Bank experienced fatal bank runs. That's because smaller banks faced pressure last month as customers sought the perceived safety of megabanks including JPMorgan and Bank of America . JPMorgan is expected to post a $2.27 billion provision for credit losses, according to the StreetAccount estimate.

☆ Big bank investors owe thanks to Team America
▼ + stars: | 2023-04-14 | by ( John Foley | ) www.reuters.com time to read: +4 min

Wells Fargo has managed to keep even more for itself, passing on just 26%. Finance chief Jeremy Barnum reckons $50 billion of deposits flowed into his bank and stayed put, more than offsetting other outflows. Elsewhere in Dimon’s letter, he describes himself as a “red-blooded, patriotic, free-enterprise and free-market capitalist.” Investors may lap that up, but his bank’s earnings show other forces at work too. Wells Fargo reported $4.7 billion of earnings, 34% higher than the previous first quarter, and took a $1.2 billion quarterly provision for credit losses. Citigroup reported $4.3 billion of earnings, a 7% annual increase, while smaller rival PNC made $1.6 billion, an 18% increase.

☆ JPMorgan just dropped some clues as to who might succeed Jamie Dimon. See Insider's exclusive organizational chart identifying the bank's top 114 executives.
▼ + stars: | 2023-04-04 | by ( Carter Johnson | Samantha Stokes | Dakin Campbell | ) www.businessinsider.com time to read: +6 min

We've got names and faces for more than 100 top JPMorgan leaders across investment banking, and more. The bank's CEO and chairman, Jamie Dimon, has consequently been a leading voice shaping both Wall Street and Main Street for decades. On Tuesday, JPMorgan's board of directors provided a little more insight into its CEO succession plans via a 116-page annual proxy filing. Additions to the organizational chart also highlight the growth within some of JPMorgan's key teams. It also provides some clues as to who might one day succeed Dimon, Wall Street's longest running CEO.

☆ George Santos's elaborate lies has seen the Congressman compared with a 19th-century huckster. History bears that out.
▼ + stars: | 2023-02-20 | by ( Allegra Rosenberg | ) www.businessinsider.com time to read: +15 min

My obsession is summed up pretty well by a tweet from @blagojevism: "George Santos is essentially a 19th-century character. Media depicting these characters found inspiration from real life: in a time before digital records and facial recognition, opportunity was everywhere. George Santos's brand of full-throated scammery is particularly American, something that belongs to this country as much as Abraham Lincoln and apple pie. The phrase "and if you believe that, I've got a bridge to sell you" comes from his legendary real-life method. But Santos, so far, has avoided jail time, giving him at least one leg up over the Yellow Kid.

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