This detail struck me: “The agreement even made clear that he would receive the cuff links given to senior executives and a plaque with his mounted F.B.I. credentials and badge.” McCabe’s firing had crushing symbolic, not just financial, impact nytimes.com/2021/10/14/us/…
It's been remarkably resonant at a grassroots level. An @ICBA portal has received 700,000+ complaints intended for members of Congress. Angry @jpmorgan customers have marched into branches in Cleveland and Orange County demanding opposition to the measure.
Behind the scenes, banks and trade groups, like @ABABankers and @ICBA, have been working strenuously to oppose the proposal, intended to help close what the @USTreasury estimates as a $7T "tax gap" and fund new government spending initiatives.
Banks privately told Treasury officials that its proposal to collect more info on customer bank accounts would be easy to implement. Then they launched a massive lobbying campaign to destroy the plan.
Some bank account holders take issue w proposed new disclosures to the @irs. “I wouldn’t allow my husband or my parents to monitor my bank account activity,” one woman told me. "There's no way I would be OK with the government monitoring it.” Our piece nytimes.com/2021/10/11/bus…
“SB 8 says if an injunction is dismissed, you are still accountable for abortions you did while you were protected by that injunction,”notes right-to-life advocate -- meaning a judge's blocking of the measure is only a partial victory for access advocates nytimes.com/2021/10/06/us/…
Just finished Suspect, which is very, very good. @matthewshaer is knowledgeable and evenhanded in the same way as Sarah Koenig, interjecting only to let you know when something just doesn't sound right. This is a tale of injustice averted, just barely. wondery.com/shows/suspect/
GOP strategy on debt ceiling, per @politico: (1) the public won’t be able to differentiate between traditional debt and the arcane rules around the little-understood debt ceiling and (2) if the economy were to suffer, voters will blame the party in power. politi.co/3iyeq9C
As Democrats labor to keep Mr. Biden’s proposal on track in Congress amid deep internal divisions, a robust influence campaign is meeting it at every turn, writes @lukebroadwater. Inside the lobbying campaign to undercut the Build Back Better plan: nytimes.com/2021/10/04/us/…
“Nobody should be surprised that we are where we are, because we’ve been telling you that for three and a half months,” says Rep. Pramila Jayapal, head of the Congressional Progressive Caucus #InfrastructureBillnytimes.com/live/2021/10/0…
I'm curious if bank customers are focused on the Biden proposal to demand new information on inflows or balances in personal bank accounts of $600+ per year. (Goal is to close the "tax gap" bet income earned and paid on to IRS.) Hit me up w any thoughts at [email protected]
"I don't care about what I pay in taxes," says @chamath, "I care that things get better." Still, even though he's staying put, he thinks that California has become "unlivable" in terms of homelessness, crime, and businesses leaving. #DeliveringAlpha
He also just took a major swing at short sellers, as he continued on @CloverHealth: "And what it was all about, and what a lot of short selling is about, is creating sentiment shift in volatility, and profiting from that." 2/3
Asked whether he is the face of the SPAC bust, @chamath said he pulled money out of @virgingalactic to make a major investment in climate change and that his move was misreported. He said to give the sector time before judging. #DeliveringAlpha
A defining factor that separates the good SPACs from the bad ones is whether the sponsors themselves have skin in the game, says @chamath. He suggests that SEC Chair Gary Gensler demand that sponsors put 5-10% of the capital invested in from their own pockets. #DeliveringAlpha
"There's a lot of unfair criticism of the FDA." They are "highly competent," and "really are looking at the weighing of the risk versus the benefits," activist Denner, a director at @biogen (whose Alzheimer's drug Aduhelm was approved in a controversial FDA move) #DeliveringAlpha
"I don't think having an officially appointed FDA commissioner makes much of a difference" to drug approval or review because the FDA staff does so much of the work, life sciences investor Bardon tells @megtirrell at #DeliveringAlpha.
Denner believes strongly that regulatory timelines will be sped up as a result of the Covid vaccine's successful expedited process. Life sciences investor Chris Bardon predicts that cancer and other drugs will also be developed more efficiently post-Covid
Despite the tragedies it has brought, Covid's affect on health care has been largely positive, says health care activist investor Alex Denner to @megtirrell at #DeliveringAlpha. The ability to cut through red tape at regulatory level for vaccines has been instructive