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Search resuls for: "Seiberg"


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☆ Our two financials differ from failed Silicon Valley Bank. But we're not buying the dips yet
  + stars: | 2023-03-10 | by ( Kevin Stankiewicz | ) www.cnbc.com   time to read: +10 min
The failure of Silicon Valley Bank is raising questions about the overall financial sector, which includes Club holdings Wells Fargo (WFC) and Morgan Stanley (MS). For now, we're waiting for the market to realize that Wells Fargo and Morgan Stanley are different. However, Wells Fargo turned positive by day's end, gaining more than half of a percent. In this environment, startups were using up a lot of money that had been deposited in SVB bank accounts to run their businesses. People walk past a Wells Fargo bank on 14th Street on December 20, 2022 in New York City.
☆ Bitcoin, ether fall after go-to crypto bank Silvergate announces liquidation
  + stars: | 2023-03-09 | by ( Tanaya Macheel | ) www.cnbc.com   time to read: +3 min
The slight move lower began late Wednesday, a few hours after Silvergate Capital announced it will wind down operations and liquidate its crypto-friendly bank. Crypto prices fell on Thursday after Silvergate, a bank that has been at the center of the industry's growth, made a decision to shut down. "This likely consolidates crypto exposure to a handful of smaller banks, which means more liquidity risk and more concentration risk. "We've also noticed a drop in liquidity on both USD crypto pairs and U.S. exchanges as liquidity providers are taking a wait-and-see approach. In the short term, lower liquidity will lead to more volatility in markets and bigger price moves up or down."
☆ CFPB: What it does and why its future is in question
  + stars: | 2023-03-03 | by ( Jeanne Sahadi | ) edition.cnn.com   time to read: +6 min
The CFPB’s missionThe agency was created after the 2008 financial meltdown, as part of the Dodd-Frank Wall Street Reform and Consumer Protection Act. The broad purpose of the CFPB is to protect consumers from financial abuses and to serve as the central agency for consumer financial protection authorities. It is charged with implementing and enforcing consumer protection laws, making rules and issuing guidance for consumer financial institutions. And it is the place consumers can go to lodge complaints about financial products and services. “It has completely changed the consumer financial marketplace.
☆ House speaker drama sparks fears of 2011-style debt ceiling crisis – or something worse
  + stars: | 2023-01-09 | by ( Matt Egan | ) edition.cnn.com   time to read: +4 min
The historic dysfunction surrounding the election of House Speaker Kevin McCarthy is raising concern of a debt ceiling crisis this summer or fall that threatens the world economy. “Even before this week, there was a growing concern about how things like the debt limit and funding the government would be processed. Weeks before the messy McCarthy vote, Goldman Sachs similarly cautioned that the next debt ceiling fight could be the riskiest since 2011. Congress has some time to figure out how to address the debt limit before it becomes a crisis. Recall that after months of fighting, Congress eventually raised the debt limit in 2021 to stave off economic disaster.
☆ SEC Chair Gary Gensler tees up changes to how the stock market operates
  + stars: | 2022-12-13 | by ( Bob Pisani | ) www.cnbc.com   time to read: +8 min
These wholesalers may send the orders to exchanges, but often match the orders against their own internal order flow. However, Gensler has claimed that pension funds and other institutional investors are not able to interact with that retail order flow. Execution quality disclosure Market participants are required to submit monthly reports indicating how well they are executing client orders. Gensler has said investors today need a better understanding of how well their trading orders are being executed. Gensler's broad agenda The proposals on market structure are part of a broad agenda Gensler has undertaken this year.
☆ Biden's surprise move to reclassify cannabis could supercharge legal weed — but it also carries big risks for companies and investors
  + stars: | 2022-10-07 | by ( Jeremy Berke | ) www.businessinsider.com   time to read: +7 min
He announced pardons for federal cannabis possession and ordered a review of how cannabis is scheduled. While Biden's announcement stopped far short of decriminalization, he outlined three key steps:He's pardoning people federally convicted of simple cannabis possession. Biden's announcement signals that his administration — quiet on cannabis until now — will finally push for federal cannabis reform. Stifel analyst Andrew Partheniou called Biden's announcement "the most important development in US cannabis history," in a Friday morning note. If the government decides to regulate cannabis like a pharmaceutical, that could undermine the recreational cannabis industry as it currently stands.
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