Priebus on Trump’s Minority Outreach: “He’s Trying” (Bless His Heart)
Reince Priebus isn’t from the South, so the “Bless His Heart” part is really just implied instead of explicitly stated.Read More »
……. How many minutes after the official notice arrives does our Dictator In Training Pants hit the hardwood for some 3-on 3, or set the guest list for the next White House par-tay ?
The other part of that question is……… As China unpegs from The US Dollar, does the FDIC order pension plans to buy into ‘failed’ banks and how much more will The Fed monetize things ?
Four news stories from the wire services………
President Barack Obama vowed in early February to “get much tougher” in trade disputes with China and to press for an end to currency regimes that he said depress export prices and put US companies at a disadvantage. The US Treasury has the option of declaring Beijing a currency manipulator in a report due out in April, which could set the stage for a complaint to the World Trade Organization and possible sanctions on Chinese goods.
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China plans to nullify all guarantees local governments have provided for loans taken by their financing vehicles as concerns about credit risks on such debt increases.
The Ministry of Finance will also ban all future guarantees by local governments and legislatures in rules that may be issued as early as this month, Yan Qingmin, head of the banking regulator’s Shanghai branch, said in an interview.
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FDIC Wants Pension Plans To Buy Banks…..
The Federal Deposit Insurance Corp. is trying to encourage public retirement funds that control more than $US2 trillion to buy all or part of failed lenders, taking a more direct role in propping up the banking system, said people briefed on the matter.
“Financially sophisticated people do not assume that banks have recognized all of their real estate losses,” Kramer said, adding that it can still be a bad deal if a buyer overpays for a deposit franchise or if loans perform worse than expected. “We are in the early innings for commercial real estate.”
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The US Federal Reserve says it is making more financial institutions eligible for a program to drain some of the unprecedented liquidity it added to markets during the credit crisis.
The challenge for the Fed is to withdraw the stimulus it has pumped into the system and raise rates before its efforts to jump-start the economy spur inflation. At the same time, if it withdraws its supports too quickly, it could undermine the nascent recovery.
Just bloody lovely.
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