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☆ Opinion | Samuel Alito Has a Favorite Branch of Government
▼ + stars: | 2023-08-01 | by ( Jamelle Bouie | ) www.nytimes.com time to read: +2 min

The necessary and proper clause gives Congress broad authority to decide on what it needs to carry out its enumerated powers. “Congress has duties to perform and powers to execute,” Chief Justice John Marshall wrote in his opinion for the court in McCulloch v. Maryland in 1819. As far as the Constitution is concerned, Congress cannot only shape that jurisdiction (“with such Exceptions”) but also set the terms by which the court exercises its appellate authority (“under such Regulations”). Congress could, to use one example, require justices to recuse themselves in any appellate proceeding in which they have a conflict of interest. As it stands, however, the kinds of ethics rules that are on the table — or should be — fall squarely within congressional authority to shape, regulate and even discipline the Supreme Court.

Persons: John Marshall, Sheldon Whitehouse Organizations: McCulloch, . Maryland, Party, Constitution, Supreme Locations: ., Rhode

☆ Alito says Congress lacks authority to regulate US Supreme Court, Wall Street Journal reports
▼ + stars: | 2023-07-28 | by ( John Kruzel | ) www.reuters.com time to read: +3 min

WASHINGTON, July 28 (Reuters) - Conservative U.S. Supreme Court Justice Samuel Alito said that Congress lacks the power to regulate the court, in an interview published by the Wall Street Journal on Friday a week after Senate Democrats advanced a bill to impose an ethics code. The Democratic-controlled Senate Judiciary Committee last week approved the bill, which would mandate a binding code for the court following revelations that some justices - including Alito - had failed to disclose luxury trips funded by wealthy benefactors. "I know this is a controversial view, but I'm willing to say it," Alito said in the interview published in the Journal's opinion section. "No provision in the Constitution gives them the authority to regulate the Supreme Court — period." That bill, which cleared the committee on an 11-10 party-line vote, is unlikely to gain the Republican support needed to pass Congress.

Persons: Samuel Alito, Alito, John Roberts, Neil Gorsuch, Clarence Thomas, preemptively, ProPublica, Thomas, Harlan Crow, Sheldon Whitehouse, John Kruzel, Andrew Chung, Scott Malone, Alistair Bell Organizations: Conservative U.S, Supreme, Wall, Democrats, Democratic, Republicans, Republican, Thomson Locations: Alaska

☆ Supreme Court Justice Samuel Alito gives a middle finger to Congress: 'No provision in the Constitution gives them the authority to regulate the Supreme Court — period.'
▼ + stars: | 2023-07-28 | by ( Madison Hall | Azmi Haroun | ) www.businessinsider.com time to read: +4 min

Supreme Court Justice Samuel Alito spoke to The Wall Street Journal about congressional oversight. "No provision in the Constitution gives them the authority to regulate the Supreme Court," he said. "Congress did not create the Supreme Court," Alito said in an interview with The Wall Street Journal. No provision in the Constitution gives them the authority to regulate the Supreme Court — period." "Dear Justice Alito: You're on the Supreme Court in part because Congress expanded the Court to 9 Justices," Lieu tweeted.

Persons: Samuel Alito, Alito, Ted Lieu, Lieu, Sen, Sheldon Whitehouse, David B, Rivkin, Moore, SCOTUS, Harlan Crow, Clarence Thomas, Crow, gifting, Thomas, Thomas —, —, ProPublica, Paul Singer Organizations: Wall Street, Service, Democratic, Twitter, GOP, Dallas Morning News, Democrats Locations: Wall, Silicon

☆ Julian Salisbury was once considered a contender for Goldman Sachs CEO. Now the asset and wealth management CIO is leaving.
▼ + stars: | 2023-07-28 | by ( Emmalyse Brownstein | Kaja Whitehouse | ) www.businessinsider.com time to read: +3 min

Now, Julian Salisbury is leaving Goldman Sachs after 25 years without a replacement. In a memo Friday, CEO David Solomon thanked Salisbury, chief investment officer of the bank's asset and wealth management division, for his "contributions to Goldman Sachs, our clients and our people." Also leaving the bank is Takashi Murata, co-head of Asia Pacific private investing and global co-head of real estate within Goldman Sachs' asset management unit. Nachmann's memo said Richard Spencer will become EMEA head of Real Estate and Nikhil Reddy will become Asia Pacific head of Real Estate. That's part of the virtuous ecosystem of Goldman Sachs," he added.

Persons: Julian Salisbury, Goldman, Goldman Sachs, David Solomon, Salisbury, Marc Nachmann, Takashi Murata, Jim Garman, Nachmann, Richard Spencer, Nikhil Reddy, Richard, Nikhil, Murata, Solomon Organizations: Goldman, Management, GS, Sixth, Wall Street, Asia Pacific, EMEA Locations: Salisbury, Asia Pacific

The crypto industry has been in the regulatory crosshairs since investors were burned last year by sudden collapses of Celsius Network, Voyager Digital, FTX and other companies. A handful of Democrats, including Reps. Jim Himes and Ritchie Torres, joined committee Republicans in voting for the bill. The bill has galvanized many in the crypto industry, who say that with Democrats' support, the bill could have a shot in the Senate. But some Democrats, including Representative Maxine Waters, the top Democrat on the Financial Services committee, fiercely oppose the bill. "This bill heeds the calls from the crypto industry while disregarding the views of the administration, the Securities and Exchange Commission and consumer and investor advocates," she said.

Persons: Jim Himes, Ritchie Torres, Patrick McHenry, we've, Kristin Smith, Miller Whitehouse, Levine, Maxine Waters, Waters, Sherrod Brown, Hannah Lang, Matthew Lewis, Mark Porter, Diane Craft Organizations: Capitol, Voyager, House Financial, Trading, Securities, Exchange, Republicans, Agriculture, Financial Services, Blockchain Association, DeFi, Securities and Exchange Commission, Democratic, Banking, SEC, Politico, Thomson Locations: Singapore, Australia, United States, McHenry, Washington

The crypto industry has been in the regulatory crosshairs since investors were burned last year by sudden collapses of Celsius Network, Voyager Digital, FTX and other companies. The markups - where legislation is debated and brought to a vote, paving the way for a full vote by the House of Representatives - are the first time crypto regulatory bills will be put to a vote in Congress, a victory for crypto lobbyists that have pushed lawmakers to provide regulatory clarity for the industry. His committee is expected to consider that bill during a markup on Wednesday, while the House Agriculture Committee will consider the same bill on Thursday. The bill has galvanized many in the crypto industry, who say that with Democrats' support, the bill could have a shot in the Senate. That effort escalated last month when the SEC sued crypto exchanges Coinbase (COIN.O) and Binance for failing to register some crypto tokens.

Persons: we've, Kristin Smith, Sherrod Brown, Patrick McHenry, McHenry, Miller Whitehouse, Levine, Maxine Waters, Waters, Hannah Lang, Matthew Lewis, Mark Porter Organizations: Capitol, Voyager, Financial, U.S ., Representatives, Blockchain Association, Democratic, Banking, Trading, Securities, Exchange, DeFi, SEC, Financial Services, Securities and Exchange Commission, Politico, Thomson Locations: Singapore, Australia, United States, McHenry, Washington

The crypto industry has been in the regulatory crosshairs since investors were burned last year by sudden collapses of Celsius Network, Voyager Digital, FTX and other companies. Still, it remains to be seen if the bills will garner any Democratic support, a factor seen by many as crucial to the bills' ultimate chances of becoming law. His committee is expected to consider that bill during a markup on Wednesday, while the House Agriculture Committee will consider the same bill on Thursday. The bill has galvanized many in the crypto industry, who say that with Democrats' support, the bill could have a shot in the Senate. That effort escalated last month when the SEC sued crypto exchanges Coinbase (COIN.O) and Binance for failing to register some crypto tokens.

Persons: we've, Kristin Smith, Sherrod Brown, Patrick McHenry, Miller Whitehouse, Levine, Maxine Waters, Waters, McHenry, Hannah Lang, Matthew Lewis Organizations: Capitol, Voyager, Financial, U.S ., Representatives, Blockchain Association, Democratic, Banking, Trading, Securities, Exchange, DeFi, SEC, Financial Services, Politico, Thomson Locations: Washington

☆ The Sheldon Whitehouse Ethics Mirror
▼ + stars: | 2023-07-22 | by ( The Editorial Board | ) www.wsj.com time to read: 1 min

This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/articles/senate-democrats-supreme-court-ethics-bill-markup-judiciary-committee-sheldon-whitehouse-sandra-whitehouse-clarence-thomas-5eb17abf

Persons: Dow Jones, whitehouse, thomas, 5eb17abf Organizations: sheldon, clarence

☆ Senate panel set to vote on US Supreme Court ethics reform
▼ + stars: | 2023-07-20 | by ( John Kruzel | ) www.reuters.com time to read: +3 min

WASHINGTON, July 20 (Reuters) - A Senate panel on Thursday was set to debate and vote on Democratic-backed legislation that would mandate a binding ethics code for the U.S. Supreme Court following revelations that some conservative justices have failed to disclose luxury trips and real estate transactions. It would require the justices to adopt a code of conduct as well as create a mechanism to investigate alleged violations. Unlike other members of the federal judiciary, the Supreme Court's nine life-tenured justices have no binding ethics code of conduct. The legislation would face long odds to win passage on the Senate floor, where it would need some Republican support to advance. Democratic senators have said these reports show that the court cannot be trusted to police itself.

Persons: Sheldon Whitehouse, Clarence Thomas, Harlan Crow, ProPublica, Samuel Alito, Neil Gorsuch, John Kruzel, Will Dunham Organizations: Democratic, U.S, Republican, Representatives, Dallas, Politico, Thomson Locations: Alaska, Colorado

☆ US Senate Democrats pursue Supreme Court ethics legislation
▼ + stars: | 2023-07-19 | by ( John Kruzel | ) www.reuters.com time to read: +5 min

Unlike other members of the federal judiciary, the Supreme Court's nine life-tenured justices have no binding ethics code of conduct. "The Supreme Court does a good job of that on their own," Republican Senator Mike Lee of Utah, who sits on the Senate Judiciary Committee, told Reuters, referring to ethics rules. Senator John Kennedy, another Republican panel member, questioned whether lawmakers possess the power to impose ethics standards on the court. The Judiciary Committee held a hearing on Supreme Court ethics concerns in May, but conservative Chief Justice John Roberts rebuffed Durbin's invitation to testify, citing "the importance of preserving judicial independence." That code, binding to lower federal court judges but not the justices, requires judges to avoid even the "appearance of impropriety."

Persons: Sheldon Whitehouse, Whitehouse, Dick Durbin, Clarence Thomas, Harlan Crow, ProPublica, Samuel Alito, Neil Gorsuch, Mike Lee of, John Kennedy, I'm, Kennedy, John Roberts, Roberts, they're, John Kruzel, Will Dunham Organizations: Democrats, U.S, Democratic, Republican, Representatives, Dallas, Politico, Reuters, Republicans, Thomson Locations: Alaska, Colorado, Mike Lee of Utah

☆ The Supreme Court Control Act
▼ + stars: | 2023-07-17 | by ( The Editorial Board | ) www.wsj.com time to read: 1 min

This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/articles/the-supreme-court-control-act-whitehouse-durbin-recusal-ethics-1b2e9bd3

Persons: Dow Jones, whitehouse, durbin

☆ Democrats to Press Supreme Court Ethics Rules Over G.O.P. Opposition
▼ + stars: | 2023-07-17 | by ( Carl Hulse | More About Carl Hulse | ) www.nytimes.com time to read: +1 min

Senate Democrats plan to push ahead this week with legislation imposing new ethics rules on the Supreme Court in the wake of disclosures about the justices’ travel and outside activities, despite blanket opposition by Republicans who claim the effort is intended to undermine the high court. The Judiciary Committee is scheduled on Thursday to consider legislation by Senator Sheldon Whitehouse, Democrat of Rhode Island, that would require the Supreme Court to establish a new code of conduct for justices, set firmer ground rules for recusal from cases, create a new investigatory board and promote transparency about ties with those before the court. Senate Republicans have made it clear they won’t support the legislation, and it has no chance in the G.O.P.-controlled House. “You have to start somewhere,” said Mr. Whitehouse. He added, “The more information that comes out about the mischief going on at the Supreme Court, the more inevitable it becomes that they come around to agreeing we have to do something.

Persons: Sheldon Whitehouse, Whitehouse, ”, We’re Organizations: Republicans, Democrat, Supreme Locations: Rhode Island

☆ Tax prep companies shared private taxpayer data with Google and Meta for years, congressional probe finds
▼ + stars: | 2023-07-12 | by ( Brian Fung | ) edition.cnn.com time to read: +10 min

Some of the tax-prep companies still do not know whether the data they shared continues to be held by the tech platforms, the report said. The Warren aide told CNN it was unclear whether Meta knew it was inappropriately using taxpayer data at the time. The investigation found that all three tax-prep companies had discontinued their use of Meta’s pixel after The Markup’s report last November. “The scope of ‘taxpayer information’ is broad by design,” Rosenthal said, adding that tax-prep companies can be sued for “knowingly” or “recklessly” leaking that information. Depending on the strength of the allegations, the tax-prep companies could quickly be forced into a binding settlement, said a former FTC official who requested anonymity in order to speak more freely.

Persons: “, ”, David Vladeck, Vladeck, Democratic Sen, Elizabeth Warren, Meta, Warren, ‘, Sens, Ron Wyden, Richard Blumenthal, Tammy Duckworth, Sheldon Whitehouse, Sen, Bernie Sanders, Katie Porter, TIGTA didn’t, Block, TaxSlayer didn’t, TaxAct, TaxSlayer, TurboTax, Steven Rosenthal, ” Rosenthal Organizations: CNN, Meta, Google, Georgetown University, Federal Trade Commission, Democratic, FTC, Internal Revenue Service, Justice Department, Tax Administration, Intuit, IRS, Urban, Brookings Tax Locations: United States, Google’s

☆ Google and Meta got customer data from tax prep firms, and lawmakers want a probe
▼ + stars: | 2023-07-12 | by ( Lauren Feiner | ) www.cnbc.com time to read: +5 min

A group of lawmakers led by Massachusetts Democratic Sen. Elizabeth Warren are calling on the Biden administration to investigate how tax prep software companies may have illegally shared customer data with tech platforms Google and Meta . Some statements the tax prep companies provided to the publications at the time seemed to indicate the data sharing was done accidentally. Our system is designed to filter out potentially sensitive data it is able to detect." Among their findings released Wednesday, the lawmakers said that millions of taxpayers' information had been shared with Big Tech firms through the tax prep software and that both the tax prep companies and tech firms were "reckless" in how they handled sensitive information. Although Meta and Google both said they have filters to catch sensitive data that's inadvertently collected, they seemed to be "ineffective," the lawmakers wrote.

Persons: Sen, Elizabeth Warren, Massachusetts Democratic Sen, Biden, General Merrick Garland, Lina Khan, Daniel Werfel, J, Russell George, TaxAct, Block, Ron Wyden, Richard Blumenthal, Conn, Tammy Duckworth, Bernie Sanders, Sheldon Whitehouse, Katie Porter, Warren, Meta Organizations: Capitol, Massachusetts Democratic, Google, Federal Trade, Tax, Facebook, Meta, CNBC, Big Tech, YouTube, Apple Locations: Washington ,, Sens, D

☆ Republicans could filibuster the replacement of Dianne Feinstein, but it's unclear if they actually would: 'We couldn't do that'
▼ + stars: | 2023-07-01 | by ( Bryan Metzger | ) www.businessinsider.com time to read: +7 min

They argue that Republicans could filibuster the appointment of a new senator to the Judiciary Committee. "We couldn't do that," said Republican Sen. Chuck Grassley of Iowa, who chaired the committee from 2015 to 2019. "I don't know why that would be a problem," said Republican Sen. Josh Hawley of Missouri, another member of the committee. With Feinstein absent, the Judiciary Committee could not quickly approve and send to the floor a slate of nominees that lacked GOP support. Republican Sen. Rick Scott of Florida expressed amazement that replacing Feinstein's seat could be subject to the Senate's 60-vote filibuster.

Persons: Dianne Feinstein, —, Sen, Dianne Feinstein's, Joe Biden's, Biden, Republican Sen, Chuck Grassley, Josh Hawley, Democratic Sen, Ben Cardin, Feinstein, Chuck Schumer, Lindsey Graham of, Graham —, Committee —, Mitch McConnell, Rick Scott, Anna Moneymaker, Barack Obama's, Amy Coney Barrett, Donald Trump's, Sheldon Whitehouse, Barbara Boxer, Cardin, Schumer, Ted Cruz, Cruz, McConnell, Graham, Scott, Schumer didn't Organizations: Committee, Service, Democratic, GOP, Republican, Republicans, CNN, Judiciary, California —, New York Times, Times Locations: Iowa, Josh Hawley of Missouri, Ben Cardin of Maryland, California, Lindsey Graham of South Carolina, Washington, Florida, Rhode, Ted Cruz of Texas

☆ Hedge fund industry insiders say Two Sigma's unusual risk disclosure was years in the making
▼ + stars: | 2023-06-27 | by ( Rebecca Ungarino | Kaja Whitehouse | ) www.businessinsider.com time to read: +6 min

Two Sigma, the successful quant hedge fund, is dogged by two cofounders who don't get along. Disagreements between Overdeck and Siegel only surfaced publicly for the first time last week. The disclosure was highly unusual for a hedge fund since they generally have much lighter disclosure requirements than their public counterparts, experts say, making the filing all the more notable. The firm has been known mainly as a premier quantitative hedge fund since its founding. Then when it comes to planning for the next generation of leaders to take over from hedge fund founders, the transition can be difficult.

Persons: John Overdeck, David Siegel, Overdeck, Siegel, Mark Pickard, Jonathan Hitchon, Sarah Jacobs, Kevin Mullally, Mullally Organizations: Sigma, Street Journal, Overdeck, Wall Street, Business, University of Central Locations: New York, Manhattan's SoHo, University of Central Florida

☆ Inside JPMorgan's handling of Jeffrey Epstein
▼ + stars: | 2023-06-26 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +5 min

This is the last week of 10 Things on Wall Street. But there remains a very large blight on JPMorgan's record that has come back into the spotlight this year: Jeffrey Epstein. Insider's Kaja Whitehouse and Emmalyse Brownstein have a breakdown of JPMorgan's long, drawn-out breakup with Epstein. Read more on JPMorgan's handling of Jeffrey Epstein. The Treasury secretary isn't particularly worried about the potential for more bank mergers this year, per The Wall Street Journal.

Persons: Dan DeFrancesco, I've, I'm, we've, Goldman Sachs, Jeffrey Epstein, Rick Friedman, hasn't, Kaja Whitehouse, Emmalyse, Epstein, Kaja, Read, Janet Yellen, isn't, Moody's, Francis Bacon, We've, Jeffrey Cane, Jack Sommers Organizations: Getty, JPMorgan, Dow, Norges Bank Investment Management, CNBC, Goldman, Street, Financial Times, Sequoia Capital, FDIC, Bloomberg, Dassault Falcon, LinkedIn Locations: NYC, Cambridge, Republic, dealmaking ., New York, London

☆ 'Lots of smoke. Lots of questions': Internal emails show JPMorgan Chase execs worried about the bank's ties to Jeffrey Epstein. So why did it take so long to cut him loose?
▼ + stars: | 2023-06-23 | by ( Kaja Whitehouse | Emmalyse Brownstein | ) www.businessinsider.com time to read: +29 min

That, of course, is the billion-dollar question: What did JPMorgan, America's largest bank, know about Epstein's alleged sex trafficking? Today, banks have entire departments dedicated to tracking client activity and flagging suspicious behavior. Lots of questions'The fuss JPMorgan compliance officers raised about Epstein in 2011 was extensive. Lots of questions," declared a senior JPMorgan compliance officer reviewing Epstein's accounts as part of that 2011 compliance review, according to court papers filed by the US Virgin Islands. Staley sent Epstein internal JPMorgan documents and relied on him for guidance on an array of business and personal dealings, the JPMorgan internal report shows.

Persons: —, Morgan Stanley, Lehman Brothers —, Jamie Dimon, Jeffrey Epstein, Leon Black, Bill Clinton, Donald Trump, Epstein, Jes Staley, Staley, Jeffrey Epstein's, Michelle Licata, Courtney Wild, Stephanie Keith, Jane Doe, JP Morgan —, Epstein —, jes staley, Patricia Wexler, Wexler, Dimon, Barry Krischer, JPMorgan, Ghislaine Maxwell, Rod Stewart, Cipriani, Joe Schildhorn, Patrick McMullan, Frank Haberstroh, Haberstroh, Les Wexner, Wexner, Tom Williams, JP Morgan, Little, Little Saint James, Epstein's, Jim Spellman, Staley didn't, Morgan, James, Emily Michot, Bill Gates, Larry Summers, Woody Allen, Stephen Cutler, Cutler, Mary Erdoes, Erdoes, Youngbee Dale, Dale, JPMorgan Chase, Michael M, NYDFS, Bernie Madoff, Cecile de Jongh, Joe Shmoe, Jacob Shamsian Organizations: JPMorgan, Highbridge Capital Management, Citigroup, Lehman Brothers, titans, Apollo, US, US Virgin Islands, Bloomberg TV, Financial, US Department of, Treasury, Getty, BSA, Polaris Market Research, United Nations University Centre, M2C Model, Palm, JPMorgan Chase, Washington D.C, Inc, Apollo Global Management, The New York Times, Little Saint, Virgin, U.S ., Miami Herald, Tribune, Service, Microsoft, Columbia University, Mountain Capital, DOJ, New, Deutsche Bank, New York Department of Financial Services, Virgin Islands, Barclays, Authority, Wall Street Journal Locations: York, Manhattan, New York, US Virgin, dimon, Palm Beach , Florida, New York City, UN, Paris, Washington, Prague, thomas, Wexner, Little Saint, I'm, Little St, U.S, U.S . Virgin Islands, Staley, Dimon's, Virgin, British

☆ JPMorgan Chase's drawn-out breakup with Jeffrey Epstein
▼ + stars: | 2023-06-23 | by ( Kaja Whitehouse | Emmalyse Brownstein | ) www.businessinsider.com time to read: +29 min

Several months later, in October 2006, JPMorgan categorized Epstein as a "high-risk" client, according to a transcript of Dimon's deposition in May. Today, banks have entire departments dedicated to tracking client activity and flagging suspicious behavior. Lots of questions'The fuss JPMorgan compliance officers raised about Epstein in 2011 was extensive. A 'faithless servant'One person who might know much more about the tangled relationship between Epstein and JPMorgan is Jes Staley. Staley sent Epstein internal JPMorgan documents and relied on him for guidance on an array of business and personal dealings, the JPMorgan internal report shows.

☆ Depending on who you ask, BlackRock just saved, or killed, crypto
▼ + stars: | 2023-06-22 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +5 min

Today we've got stories on a startup helping you build your credit with rent payments, Wall Street reentering the home-buying frenzy, and how to cut out late-night snacking. But that hasn't stopped critics from painting BlackRock's filing as part of a wider power shift in crypto benefiting traditional financial firms. (It's worth noting that the announcement coincides with the launch of EDX Markets, a crypto exchange backed by Wall Street royalty like Citadel Securities, Fidelity, and Charles Schwab, per The Wall Street Journal.) Wall Street isn't in the business of supporting causes that could put it out of business. By partnering with traditional finance firms, crypto companies are letting the fox in the hen house.

Persons: Dan DeFrancesco, we've, Andrii Shyp, Arif Qazi, Wall, Insider's Rebecca Ungarino, Rebecca, Morgan Chittum, hasn't, Charles Schwab, I've, Read, Teresa Heitsenrether, Here's, We're, Netflix's, Jeffrey Epstein, Epstein, Bel, Gary Winnick, Kaja Whitehouse, Nathan Rennolds Organizations: EDX, Wall, Citadel Securities, Fidelity, Street, JPMorgan, Bloomberg, Netflix, US Virgin Islands, Bel, Air, LinkedIn Locations: BlackRock, New York, London

☆ Wall Street is finding the silver lining on inflation, but how long will the 'good' times last?
▼ + stars: | 2023-06-15 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +5 min

But on Wall Street, a crisis is just a bit of financial engineering away from becoming an opportunity to make money. That's where inflation traders come in. The strategy of betting on the swings in consumer prices has exploded in recent years, with revenues from inflation trading going from $700 million in 2019 to $3.9 billion in 2022. And while inflation trading has the potential to generate some big returns, making your money back on hires like these might be a tall task if inflation has a short shelf life. More on where the top players in inflation trading are landing amid a heated war for talent.

Persons: Dan DeFrancesco, we've, Goldman Sachs, I've, Malte Mueller, Insider's Kaja Whitehouse, Kaja, Ben Stiller, Owen Wilson, Elon Musk, Goldman, Citadel's Ken Griffin, Dara Khosrowshahi, Jeffrey Cane, Nathan Rennolds Organizations: Getty, Labor Statistics, Federal, Paramount, BlackRock, Tech, LinkedIn Locations: BlackRock, China, New York, London

WASHINGTON, June 15 (Reuters) - Republican and Democratic members of the U.S. Congress introduced legislation on Thursday that would make it easier for Ukraine to fund its fight against Russian invaders by using seized and frozen Russian assets. The U.S. Congress has approved more than $100 billion in military, humanitarian and economic aid for Ukraine since Russia invaded in February 2022. It also would bar the release of funds to sanctioned Russian entities until Russia withdraws from Ukraine and agrees to provide compensation for harm caused by the war. The bill's other Republican sponsors include Representative Michael McCaul, chairman of the House Foreign Affairs Committee and Representatives Joe Wilson, Thomas Kean and Brian Fitzpatrick. Democratic sponsors include Senator Sheldon Whitehouse and Representative Marcy Kaptur, a co-chair of the Congressional Ukraine Caucus, as well as Representatives Steve Cohen and Mike Quigley.

Persons: Jim Risch, Michael McCaul, Joe Wilson, Thomas Kean, Brian Fitzpatrick, Sheldon Whitehouse, Marcy Kaptur, Steve Cohen, Mike Quigley, Patricia Zengerle, William Maclean Organizations: Republican, Democratic, U.S . Congress, U.S, Congress, Moscow, Senate Foreign Relations, Opportunity, House Foreign Affairs, Congressional Ukraine Caucus, Thomson Locations: Ukraine, Russia, Kyiv, United States

☆ New bipartisan bill in Senate could address TikTok security concerns without a ban
▼ + stars: | 2023-06-14 | by ( Brian Fung | ) edition.cnn.com time to read: +7 min

Much of the existing legislation addressing TikTok at the federal and state level has focused on bans of the app. Wednesday’s legislation, known as the Protecting Americans’ Data From Foreign Surveillance Act, does not identify TikTok by name. TikTok has faced criticism from US officials who say the company’s links to China pose a national security risk. Congress has made several attempts in recent months to address data transfers to foreign adversaries. In February, House lawmakers advanced a bill that would all but require the Biden administration to ban TikTok over national security concerns about the app.

Persons: Oregon Democratic Sen, Ron Wyden, Wyoming Republican Sen, Cynthia Lummis, —, ” Wyden, Wyden, TikTok, ByteDance, Biden, Justin Sherman, ” Sherman, Rhode Island Democratic Sen, Sheldon Whitehouse, Sheldon Whitehouse , Tennessee Republican Sen, Bill Hagerty, New Mexico Democratic Sen, Martin Heinrich, Florida Republican Sen, Marco Rubio, Warren Davidson, Anna Eshoo Organizations: CNN, Oregon Democratic, Wyoming Republican, ByteDance, Commerce Department, Oracle, Texas, Commerce, Duke University’s Sanford School of Public, Rhode, Rhode Island Democratic, Sheldon Whitehouse , Tennessee Republican, New Mexico Democratic, Florida Republican, Ohio Republican, California Democratic Locations: China, United States, Russia, Rhode Island, Sheldon Whitehouse , Tennessee, New Mexico, Florida

☆ The inflation trader hiring frenzy: Where top players are landing as the war for talent heats up
▼ + stars: | 2023-06-14 | by ( Kaja Whitehouse | ) www.businessinsider.com time to read: +2 min

Inflation trading has gone from a backwater to a $4 billion business as consumer prices careen. It's led to a rush of hiring by banks and hedge funds eager to tap top talent. Insider breaks down the biggest departures, promotions, and hires in inflation trading. Inflation trading isn't new, but up until the last two years, it was a bit of a backwater. It's Winkworth's second move since the renaissance in inflation trading — he joined Deutsche from Morgan Stanley in 2021.

Persons: It's, Jimmy Carter, Joaquin de Soto, Goldman Sachs, Jordan Lange, Carrington Fox, Igor Cashyn, Guy Winkworth, Sukhjeet Atwal, Morgan Stanley, we'll Organizations: Citadel, Barclays, May, JPMorgan, Deutsche Bank, Deutsche

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