When Silicon Valley Bank and other banks failed earlier this year, the debate over the sustainability of fractional reserve banking resurfaced. Under fractional reserve banking, banks keep only a fraction of customers’ deposits in reserve. The difference is bank credit, such as government debt, mortgages, business loans, and many other kinds of loans.
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Banking
Support Bill to Ban Social Credit Scores
I apologize for the last-minute email, but these bills snuck past me, even though our own treasurer, JR Hoell, co-sponsored HB 225. While both of these bills tackle the same issue, I personally feel that HB 225 is likely a better solution.
Nineteen States Investigating Major Banks over Biased Net-Zero (ESG) Lending Policies – is Yours One of Them?
Nineteen states, led by Missouri AG Eric Schmitt, are investigating Bank of America, Citigroup, Goldman Sachs, JPMorgan, Morgan Stanley, and Wells Fargo for putting UN (BS) Net Zero ESG banking goals ahead of American laws.
NH Bill Would Prohibit Banks from Using Social Credit Scores
Social Credit Scores are institutionalized discrimination. The Left loves them, so New Hampshire House Bill 1469 tries to get ahead of the downward curve. It would prohibit banks and other financial institutions from engaging in discriminatory practices.
Biden Wants to Roll Back Rules Preventing Banks From Engaging in Political Targeting
The new administration is broadly rolling back almost all Trump-era regulations. Of local interest is a regulation meant to protect businesses from political targeting. Businesses like gun manufacturers and cryptocurrency exchanges had protection from denial of banking services. No more.
Big Tech vs. Banking & Big Government: Round 1
Facebook announced last month it would launch a global cryptocurrency in 2020. The announcement said Facebook and 28 partners would form a consortium. The partners include: MasterCard Inc., PayPal Holdings Inc., and Uber Technologies Inc.; among others. The new partnership will form under the name Libra Association. The purpose of Libra is to govern the … Read more
Four Years All For Naught?
I have just three thoughts to share for the moment; Carol had four years in a democrat majority congress–which promised to clean up the swamp, two of them with a democrat president, and I do not see any attempt by her party or by Carol herself (she is defined legislatively as a follower not a leader) to address this or anything else outside the big blue box of liberal progressive agenda items.
Carol Soros-Porter 2.0 [Updated]
Nothing says banking, special interests, or rich SOB’s like George Soros. So as you contemplate all the things you have to be thankful for, one of which has to include the defeat of Carol Shea-Porter just a few weeks ago, ask yourself why the guy who has spent hundreds of millions of dollars and fronted dozens of groups, for the sole purpose of destroying America from within, has a family interest in the political fortunes of the soon to be former congresswoman from CD-01?
[updated] Seems there is more Soros support for Carol, call it institutional support, going all the way back to 2007. Every time we turn around there is another member of the Soros Clan turning up as a donor to our de-throned congressperson. SO many, in fact, I’ve had to push them to the jump to fit them all.
Updated list on the jump.