slugabed Ars Scholae Palatinae
16y
1,273
I guess bad things are bound to happen in the center of the Venn diagram of Greed, Vanity, and The Most Toxic Compound Known. And maybe the only thing worse than real toxin is counterfeit toxin?

Glad I read to the end, though. Love horses.

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More than a year before a shocking collapse that led to a near-crisis in the financial sector, Silicon Valley Bank was the subject of an investigation set in motion by the Federal Reserve in San Francisco, according to a new report.

Bloomberg is reporting today that the investigative team, made up of senior examiners for the Fed, was tasked with assessing the firm and its potential risks. What they found, it seems, should have been enough to get regulators involved long before the bank collapsed and sent shockwaves through the tech and financial sector – and long before taxpayer bailouts became an option.

According to Bloomberg, those investigators “fired off a series of formal warnings to the bank’s leaders, pressing them to fix serious weaknesses in operations and technology, according to people with knowledge of the matter.” //

In a twist, the San Francisco Fed’s deputy point person in charge of monitoring the bank until late 2021 received a new assignment afterward, becoming the regulator’s point person on Silvergate Capital Corp., according to people with knowledge of the situation. Silvergate also shut this month because of similar flaws in its deposit base and the positioning of its balance sheet. //

As the Democrats call for more regulation of the banking industry, this report highlights a familiar problem – namely, that the regulations and safeguards already in place don’t appear to be working.

The sudden rise of well-funded election activist nonprofits represents a paradigm shift away from persuading and motivating voters, and toward manipulating the election process to benefit Democrats. //

Over the last several months, a growing number of Republicans, including Donald Trump himself, seem to be having a change of heart about universal mail-in voting and ballot harvesting.

While few Republicans are ready to completely abandon policies that support election integrity and transparency, more and more seem willing to follow the old adage “if you can’t beat ’em, join ’em,” and suggest that Republicans become significantly more reliant on universal mail-in voting and ballot harvesting to win elections. There is no worse idea in politics today.

Conservatives do not have the institutional or financial support to match Democrats in election activism and ballot harvesting, nor are they likely to be able to any time in the near future. The advantages Democrats have accrued over the last 20 years in election manipulation and “lawfare” are nearly insurmountable.

But this is not necessarily a portent of gloom and doom. The growing number of ultra-left Democratic candidates are deeply unpopular and would be unelectable outside deep-blue areas under the election norms that prevailed prior to the Covid-19 lockdowns and the 2020 presidential election. //

Republicans need to better understand the vast institutional power that is arrayed against them on the left in the form of lavishly funded 501(c)(3) nonprofits and charitable foundations, along with legions of election lawyers, data analysts, and election activists.