https://preview.redd.it/4qznkxpg0ye41.png?width=940&format=png&auto=webp&s=e34c236e29d2f9159a2157d7f11ebc6879ef54d3
Have you ever been in a situation when it felt like the more you tried to control your circumstances, the worse your circumstances became?
Carl Goodman, former Director of IT for the Federal Reserve Bank of Atlanta, feels the same about his career in IT.
Having been raised without much money, Carl sought income and job stability, probably more than anything. But several times throughout his career, just as Carl was getting comfortable, outside circumstances disrupted his stability.
But despite the turmoil it created within his nervous system, looking back, it always seemed to work-out for the better.
And once on the other side of the challenges, Carl wound up with new skills and opportunities that he otherwise, wouldn’t have ever sought, himself.
Listen to the latest episode of ITsmiths, featuring Carl’s story here, or on your favorite podcast app, such as:
This is the best tl;dr I could make, original reduced by 69%. (I'm a bot)
> President Donald Trump's latest personal financial disclosure was released Thursday afternoon, showing that Trump, who already owed more money than any other president in history, borrowed millions more in 2018 from a bank whose CEO won a federal appointment months later.
> While Trump did add revenue from online sales of branded products and saw increased sales of his bottled water, he recorded declines in areas more central to his business, including commissions earned through his realty firm.
> According to the disclosure, Trump borrowed between $5 million and $25 million in May 2018 from Professional Bank, a small Florida outfit that specializes in construction and real estate loans.
> He borrowed the money at 4.5 percent interest through a limited liability company called 1125 South Ocean LLC. The loan was used to finance the purchase of 1125 South Ocean Avenue, a mansion located next door to Trump's Mar-a-Lago club and owned by the president's sister, Maryanne Trump Barry, a former federal judge.
> At the Trump International Hotel in Washington, D.C., which is not only a favorite hangout for Trump supporters, lobbyists, and administration officials but also plays host to events sponsored by conservative groups and foreign governments, there was a slight increase-just $400,000-in annual revenue, adding up to $40.8 million in the 2018 calendar year.
> The move, which kept ownership firmly in the president's hands, was largely dismissed by ethics experts as paper shuffling with little practical effect, especially after it was revealed that Trump has the ability to withdraw money at any time from the trust.
Summary Source | FAQ | Feedback | Top keywords: Trump^#1 million^#2 President^#3 bank^#4 revenue^#5
Post found in /r/The_Mueller, [/r/EnoughTrumpSpam](http://np.reddit.com/r/EnoughTrumpSpam/comments/brdvr0/trump_borrowed_11_mil
... keep reading on reddit ➡Among the largest borrowers were JPMorgan Chase, Goldman Sachs and Citigroup, three of the Wall Street banks that were at the center of the subprime and derivatives crisis in 2008 that brought down the U.S. economy. That’s blockbuster news. But as of 7 a.m. this morning, not one major business media outlet has reported the details of the Fed’s big reveal.
JPMorgan Chase and Citigroup’s Citibank are among the largest deposit-taking, federally-insured banks in the U.S. Why they needed to borrow from the Fed on an emergency basis in the fall of 2019.
Never before seen a total news blackout of a financial news story of this magnitude in 35 years of monitoring Wall Street and the Fed.
To established a Crypto Bank,a company needs SDPI charter from the local authorities then a master account with Federal Reserve to arrange payments with Central Bank and to conduct settlements with other financial institutions.
Kraken and Avanti are two entities active in Crypto business ,both have received permission under Wyoming law to become Special Purpose Depository Institutions(SDPI)-a new type of financial entity that can transact in Crypto while also performing traditional banking services.
After receiving SDPI charter from authorities,next step is to require a master account at Federal Reserve to arrange payments with Central Bank and conduct settlements with other financial institutions.
But here comes the main problem, Federal Reserve blocked the applications to open the master account without any legitimate reasons.Not only this, Federal Reserve sat on SDPI applications for more than a year and has been slow to communicate with Crypto Banks on why the whole process is taking so much time.
Fed Chair Jerome Powell defending the FED's decision to block Crypto Banks with this statement
>if we start granting these, there will be a couple hundred of them soon.They are hugely precedential, which is why I am taking my time on this"
Even though Mr. Jerome Powell agreed that there are good arguments for treating them as eligible to receive accounts.Just because it's "Crypto Bank" they can't get the permission for master account.
And people think authorities are now realizing the potential of Crypto and ready to accept it as a part of financial system.They are just saying nice words so that their public image remain intact, and their actions are in the direction to stop Crypto at any cost.
Source : https://decrypt.co/90186/powell-lummis-spdi-kraken-wyoming
and why do people still take them seriously despite that? especially since there's the FRBNY, which offers a similar service: https://www.newyorkfed.org/research/policy/nowcast
For reference, here's Atlanta's nowcast and the BEA's reports on quarterly economic growth, compared. https://fred.stlouisfed.org/graph/?g=kjiO
