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☆ Opinion | Donald Trump Has Told Americans Exactly Who He Is
▼ + stars: | 2022-10-14 | by ( Jesse Wegman | ) www.nytimes.com time to read: +4 min

When Mr. Barr resigned in December 2020, Mr. Trump attempted to replace him with Jeffrey Clark, an environmental lawyer in the Justice Department who had expressed a willingness to help Mr. Trump subvert the election. Mr. Trump was informed of the threats, too, before he whipped the mob into a frenzy and urged them to march on the Capitol. Before that happens, Mr. Trump must be “required to answer for his actions,” as Mr. Thompson rightly said. It sounds so basic and yet, with Mr. Trump, it has remained so elusive. Led by Mr. Trump, the party has morphed into the greatest threat to the Republic since the Confederacy: a revanchist cult that refuses to accept electoral defeat.

Share this -Link copiedCommittee votes to subpoena Trump The committee voted on Thursday unanimously to subpoena Trump. Trump would not be the first president to be subpoenaed, nor would he be the first former president subpoenaed by Congress. "Even before the networks called the race for President Biden on Nov. 7th, his chances of pulling out a victory were virtually nonexistent, and President Trump knew it," Kinzinger said. “At times, President Trump acknowledged the reality of his loss. “What did President Trump know?

That's based on a Secret Service email from 9:09 a.m. "The head of the President’s Secret Service protective detail, Robert Engel, was specifically aware of the large crowds outside the magnetometers," Schiff said. A Secret Service report at 7:58 a.m. said, "Some members of the crowd are wearing ballistic helmets, body armor carrying radio equipment and military grade backpacks." On Dec. 26, a Secret Service field office relayed a tip that had been received by the FBI, Schiff said. Trump would not be the first president to be subpoenaed, nor would he be the first former president subpoenaed by Congress.

☆ JPMorgan, Citigroup say higher capital requirements may hurt lending
▼ + stars: | 2022-10-13 | by ( ) www.reuters.com time to read: +2 min

NEW YORK, Oct 13 (Reuters) - Leaders from U.S. banking giants on Thursday said strict capital requirements, which were bolstered after the 2008 financial crisis, could restrain economic activity. Higher capital requirements for big banks may curb lending and amplify a potential recession, Citigroup (C.N) Chairman John Dugan told attendees at the Institute of International Finance conference in Washington. Register now for FREE unlimited access to Reuters.com RegisterRestraining banks from lending during a slowdown could "amplify the recessionary effect," he said. The U.S. Federal Reserve is conducting a "holistic" review of bank capital requirements and might impose tougher rules on large regional lenders, its new regulatory chief said last month. But the biggest banks, which face the strictest set of capital requirements and have lobbied for years for relief, face an uphill climb with regulators.

☆ Banks should manage heightened risks from crypto firm deposits –Fed’s Barr
▼ + stars: | 2022-10-12 | by ( Hannah Lang | ) www.reuters.com time to read: +2 min

"The recent volatility in crypto markets has demonstrated the extent of centralization and interconnectedness among crypto-asset companies, which contributes to amplified stress," he said. Register now for FREE unlimited access to Reuters.com Register"While banks were not directly exposed to losses from these events, these episodes have highlighted potential risks for banking organizations." Speaking at DC Fintech Week, Barr said the banking regulators' engagement with financial institutions on the risks of accepting deposits from crypto firms is "not intended to discourage banks from providing access" to banking services for crypto companies, but instead on making sure that any risks are appropriately mitigated. In the speech, Barr said regulators need to balance supporting innovation while providing guardrails that protect consumers and guard against systemic risks. Barr also warned that crypto companies making misrepresentations about deposit insurance can confuse customers, and may lead to increased withdrawals at crypto-aligned banks that provide such services during periods of heightened stress.

The Labor Department's producer prices index rose 8.5% in the 12 months through September, slightly higher than an estimated 8.4% rise. Register now for FREE unlimited access to Reuters.com Register"It is not going to be that way. That's what the Fed has been looking at and that's why they're raising rates the way they are. Persistent inflation has sparked worries about the Fed's aggressive monetary action tipping the world's largest economy into a recession. ET, Dow e-minis were up 46 points, or 0.16%, S&P 500 e-minis were up 10.25 points, or 0.28%, and Nasdaq 100 e-minis were up 41.25 points, or 0.38%.

The bounce follows five straight days of declines in the Nasdaq (.IXIC) and the benchmark S&P 500 (.SPX) as recent economic data nearly sealed a case for a fourth consecutive 75-basis-point hike by the Fed. The Labor Department's producer prices index data due at 8:30 a.m. ET is expected to have risen 8.4% in the 12 months through September, after advancing 8.7% in August. Register now for FREE unlimited access to Reuters.com RegisterStubborn inflation has sparked worries about the Fed's aggressive monetary action tipping the world's largest economy into a recession. ET, Dow e-minis were up 118 points, or 0.4%, S&P 500 e-minis were up 20.5 points, or 0.57%, and Nasdaq 100 e-minis were up 85.25 points, or 0.79%.

The Labor Department's producer prices index rose 8.5% in the 12 months through September, slightly higher than an estimated 8.4% rise. read morePersistent inflation has increased concerns about the Fed's aggressive monetary action tipping the world's largest economy into a recession. That's what the Fed has been looking at and that's why they're raising rates the way they are. Declining issues outnumbered advancers for a 1.74-to-1 ratio on the NYSE and for a 1.47-to-1 ratio on the Nasdaq. The S&P index recorded no new 52-week high and 41 new lows, while the Nasdaq recorded 7 new highs and 201 new lows.

☆ Morning Bid: Confusion reigns
▼ + stars: | 2022-10-12 | by ( ) www.reuters.com time to read: +4 min

Then BoE chief Andrew Bailey said late Tuesday: "You've got three days left now. You've got to get this done" - even as the Financial Times reported the central bank might extend the support. The tension built with Britain's economy looking set to go into recession as data showed it unexpectedly shrank in August. "The worst is yet to come, and for many people, 2023 will feel like a recession," said IMF chief economist Pierre-Olivier Gourinchas. * G20 finance ministers and central bankers meet at annual IMF/World Bank meeting in Washington* Bank of England Financial Policy Committee publishes summary of latest meeting.

☆ Moderna pops 17% after Merck exercises option to jointly develop a personalized cancer vaccine
▼ + stars: | 2022-10-12 | by ( Matthew Fox | ) www.businessinsider.com time to read: +3 min

Moderna spiked as much as 17% on Wednesday after the company teamed up with Merck to develop personalized cancer vaccines. Data from an ongoing phase 2 trial of Moderna's vaccine used in combination with Merck's Keytruda is expected in the fourth quarter. Under an existing licensing agreement that was initially inked in 2016, Merck had the option to exercise an option to jointly develop and sell the personalized cancer vaccines. Merck will pay Moderna $250 million to exercise its option, and will collaborate on the development and commercialization of the vaccines. Merck's cancer drug Keytruda is currently being evaluated in combination with Moderna's mRNA-4156/V940 vaccine as a treatment for patients with high-risk melanoma.

☆ Morning Bid: What a fine mess
▼ + stars: | 2022-10-11 | by ( ) www.reuters.com time to read: +2 min

Oct 11 (Reuters) - A look at the day ahead in Asian markets from Jamie McGeeverSometimes it's better to say nothing at all. The rupee is even deeper in the mire than the won - this week it hit a record low of 82.82 per dollar. Both the BoK and Reserve Bank of India have intervened in FX markets this year to support their exchange rates. They - and others - might have to do more, raising the risk that central banks offload more of their U.S. Treasuries. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

☆ 'Walker Independence' and 'The Winchesters' review: These are far from pioneering prequels
▼ + stars: | 2022-10-06 | by ( Review Brian Lowry | ) edition.cnn.com time to read: +3 min

CNN —If all shows were animated like “The Simpsons,” networks wouldn’t need to strain to keep them alive. Yet live-action dramas come with shelf lives, which explains the CW’s twin attempts to extend two of its franchises with prequels: “Walker Independence,” a back-to-the-Old-West adjunct to its Texas Ranger reboot; and “The Winchesters,” a one-generation-back rekindling of the “Supernatural” flame. The main problem with “Walker” is the events that set the show in motion feel much better tailored to a limited series than an open-ended run. For now, “Walker Independence” (which, yes, will follow “Walker”) and “The Winchesters” come blessed with name recognition, but creatively speaking, first impressions say that the network has dipped into the prequel well twice too often. “Walker Independence” premieres October 6 at 9 p.m.

WASHINGTON, Sept 29 (Reuters) - The Federal Reserve announced Thursday that six of the nation's largest banks would participate in a pilot climate scenario analysis exercise in 2023. In its announcement, the Fed emphasized the pilot exercise will be strictly for information-gathering purposes, calling it "exploratory in nature." Fed Vice Chair for Supervision Michael Barr said earlier this month the central bank has an "important, but narrow" mandate to police climate risks for banks. The Fed will provide "climate scenario narratives," which banks will use to analyze the impact on their portfolios and business strategies. The Fed will then review those findings with the firms to help them build up their ability to manage climate-related risks.

☆ Ivanka Trump and Jared Kushner knew the 2020 election wasn't stolen and began to distance themselves before the results were even called, a new book says
▼ + stars: | 2022-09-28 | by ( Peter Baker | Susan Glasser | ) www.businessinsider.com time to read: +17 min

In their new book, journalists, Peter Baker and Susan Glasser go behind the scenes of the Trump White House. As the 2020 election results came in, Jared Kushner and Ivanka Trump had already moved on, the book says. They had their own future to think about, one that would no longer involve the White House. While still in the White House, he began writing a memoir focused on Middle East peacemaking. "We either have a vote WE control and WEwin OR it gets kicked to Congress 6 January 2021," Don Jr. wrote.

☆ Then-AG Bill Barr in 2020 told Trump that 'people are tired' of the 'drama,' new book says
▼ + stars: | 2022-09-28 | by ( John Haltiwanger | Nicole Gaudiano | ) www.businessinsider.com time to read: +3 min

Attorney General Bill Barr tried to get President Trump to scale back his personal attacks on others, a new book says. "People are tired of the fucking drama," Barr told Trump in 2020, according to a Washington Post excerpt of "Confidence Man." "People are tired of the fucking drama," Barr told Trump in 2020, according to a Washington Post excerpt of the forthcoming book "Confidence Man," by New York Times reporter Maggie Haberman. As he refused to acknowledge the severity of the pandemic, Trump simultaneously pushed baseless allegations of voter fraud throughout 2020, weeks and months before Election Day that undermined trust in the voting process among Republicans . After losing the election in November, Trump refused to concede and disrupted the longstanding US tradition of a peaceful transfer of power.

The committee had been planning to hold another hearing on Wednesday but postponed it due to the hurricane approaching Florida. “Nothing provided by the Jan. 6 committee can be considered credible, or unedited or not manipulated," Stone told NBC News Tuesday. The committee has also obtained a trove of Secret Service documents from the period around the Jan. 6 attack. "I think it’s certainly something that will be explored," at the hearing, said the committee member who requested anonymity. “We all swore the same oath to the Constitution,” Cheney told NBC News in a statement, responding to the GOP criticism she’s faced.

☆ Donald Trump wins ruling in rape accuser Carroll's defamation lawsuit
▼ + stars: | 2022-09-27 | by ( Jonathan Stempel | ) www.reuters.com time to read: +4 min

Circuit Court of Appeals in Manhattan asked an appeals court in Washington to weigh in on whether the laws of that district shielded Trump from liability. Carroll sued Trump in November 2019, and had been hoping to go to trial as soon as next February. On Sept. 20, Kaplan said Carroll planned to sue Trump for battery and inflicting emotional distress even if the defamation claims were thrown out. 'WE DO NOT PASS JUDGMENT'Trump claimed he was shielded from Carroll's lawsuit by a federal law immunizing government employees from defamation claims. That would have ended Carroll's case, because the United States had not waived its immunity from defamation claims.

Keep up to date on the latest of Trump's legal travails, both criminal and civil, with this guide to the ever-evolving Trump docket. The Issues: Trump's real estate and golf resort business is accused of giving its executives pricey perks and benefits that were never reported as income to taxing authorities. The issues: They say Donald Trump sicced his security guards on their peaceful, legal protest outside Trump Tower in 2015. Donald Trump, right, sits with his children, from left, Eric Trump, Donald Trump Jr., and Ivanka Trump during a groundbreaking ceremony for the Trump International Hotel on July 23, 2014, in Washington. The Issues: Donald Trump is accused of promoting a scam multi-level marketing scheme on "The Celebrity Apprentice."

☆ Here's everything the Federal Reserve is expected to do today
▼ + stars: | 2022-09-21 | by ( Jeff Cox | ) www.cnbc.com time to read: +6 min

Construction workers outside the Marriner S. Eccles Federal Reserve Building, photographed on Wednesday, July 27, 2022 in Washington, DC. Kent Nishimura | Los Angeles Times | Getty ImagesThere's not a lot of mystery surrounding Wednesday's Federal Reserve meeting, with markets widely expecting the central bank to approve its third consecutive three-quarter point interest rate hike. That's the highest the fed funds rate has been since early 2008. Economic outlook: Part of this week's meeting will see Fed officials issue a quarterly update of their interest rate and economic outlook. Powell presser: Fed Chairman Jerome Powell will hold his usual news conference following the conclusion of the two-day meeting.

☆ 'No one' gets to keep classified information, says Mike Pompeo, an apparent criticism of Trump in the wake of the Mar-a-Lago raid
▼ + stars: | 2022-09-20 | by ( Tom Porter | ) www.businessinsider.com time to read: +3 min

Former Secretary of State Mike Pompeo addressed the FBI's Mar-a-Lago raid. He said that no one has a right to possess classified material outside a secure setting. Executing a search warrant, agents retrieved stashes of classified information they believe Trump wrongly kept hold of after leaving office. "No one gets to keep classified information outside of a place classified information should be. The DOJ has appealed a ruling that denied them access to classified material they seized until the special master is done, arguing that the delay could harm US national security.

☆ Big Regional Banks Might Face New Rules for Dealing With a Crisis
▼ + stars: | 2022-09-19 | by ( Andrew Ackerman | ) www.wsj.com time to read: 1 min

Michael Barr, the Fed’s top bank regulator, signaled he is looking at large regional banks ‘as they grow and as their significance in the financial system increases.’WASHINGTON—A group of President Biden-appointed bank regulators are considering new rules to require large regional banks to add to financial cushions that could be called on in times of crisis. The steps under consideration include requirements that the regional firms raise long-term debt that can help absorb losses in case of their own insolvency, according to three people familiar with the matter, extending a slimmed-down version of requirements that at present apply only to the largest U.S. megabanks.

☆ Senate Republicans seek special counsel authority for prosecutor in Hunter Biden criminal probe
▼ + stars: | 2022-09-19 | by ( Dan Mangan | ) www.cnbc.com time to read: +4 min

Hunter Biden looks on during the annual Easter Egg Roll on the South Lawn of the White House in Washington, April 18, 2022. More than 30 Senate Republicans asked Attorney General Merrick Garland on Monday to give the federal prosecutor who has been investigating Hunter Biden for several years "special counsel protections and authorities." Giving U.S. Attorney for Delaware David Weiss special counsel authority would also "provide additional assurances to the American people that the Hunter Biden investigation is free from political influence," the letter argued. Hunter Biden disclosed the existence of the criminal probe in late 2020, shortly after his father was elected president. Hunter Biden has not been charged with any of those crimes, and it is not clear if he will ever be charged.

☆ Trump thought that he, as president, could prosecute Clinton and Comey, book says
▼ + stars: | 2022-09-19 | by ( Erin Snodgrass | Nicole Gaudiano | ) www.businessinsider.com time to read: +3 min

Donald Trump once threatened to use his role as president to prosecute his political foes. A White House attorney had to explain to the then president that he had no such power. The episode was chronicled in "The Divider," a new book obtained by Insider ahead of its publication. "You can't prosecute anybody," McGahn told Trump, according to the book. Several former Trump White House and government officials have since recounted similar stories that suggest the former president was unfamiliar with the logistics of his newfound position.

☆ U.S. to seek death penalty against accused New York bike path killer
▼ + stars: | 2022-09-19 | by ( Jonathan Stempel | ) www.reuters.com time to read: +2 min

Sayfullo Saipov, the suspect in the New York City truck attack is seen in this handout photo released November 1, 2017. In a letter filed late Friday in Manhattan federal court, prosecutors said Attorney General Merrick Garland "decided to continue to seek the death penalty" against Sayfullo Saipov, and that they notified the defendant's lawyers and victims. Register now for FREE unlimited access to Reuters.com RegisterThe decision followed Garland's July 2021 moratorium on federal executions while the Department of Justice reviews its use of the death penalty. The Justice Department under Garland has defended the death penalty in some cases. Register now for FREE unlimited access to Reuters.com RegisterReporting by Jonathan Stempel in New York Editing by Marguerita ChoyOur Standards: The Thomson Reuters Trust Principles.

☆ U.S. bank regulators consider new rules for regional banks in times of crisis, Wall Street Journal reports
▼ + stars: | 2022-09-18 | by ( ) www.reuters.com time to read: +1 min

Register now for FREE unlimited access to Reuters.com RegisterPeople walk wearing masks outside The Federal Reserve Bank of New York in New York City, U.S., March 18, 2020. REUTERS/Lucas Jackson/File Photo/File PhotoSept 18 (Reuters) - A group of bank regulators appointed by U.S President Joe Biden is considering new rules which will require big regional banks to add financial cushions that can be used in times of crisis, the Wall Street Journal reported on Sunday. The new steps include the regional banks raising long-term debt that will help absorb losses in cases of insolvency, the WSJ reported adding three people familiar with the matter. The WSJ report comes over a week after U.S. Federal Reserve chief Michael Barr said that there soon may be tougher rules on large regional lenders after a 'holistic' review of bank capital requirements is concluded. read more(This story refiles to make clear WSJ attribution in headline)Register now for FREE unlimited access to Reuters.com RegisterReporting by Rachna Dhanrajani in Bengaluru, Editing by William MacleanOur Standards: The Thomson Reuters Trust Principles.

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