Indeed, lower bank leverage is given as an argument as to why volatility is lower these days. Except that the run-up to the financial crisis of 2008 – a period in which banks were extra-ordinarily levered – also showed low volatility in a variety of markets. It was the perceived safety, embodied by quasi-sophisticated value-at-risk (VAR) models that got risk managers at financial institutions to gear up. What could possibly go wrong, right?
Nothing changed, so Guitron requested meetings with more senior executives. Overall, she claimed that during her tenure at Wells Fargo she raised concerns on more than 100 occasions, including about a dozen calls to the Wells Fargo EthicsLine, and on no fewer than 37 occasions she provided records that supported her complaints. Guitron alleges that her managers began to retaliate, making it harder for her to meet her sales goals. She was fired in January 2010.
It’s crazy to begin with that these people are so consumed by the fact that someone has $10,000 in cash.
But it’s even crazier that they’re threatening to take EVERYTHING that you own merely for not filling out a piece of paper, without any due process whatsoever. Oh, and on top of civil asset forfeiture penalties, there are also criminal penalties.
Big Science (Jesper A.)
Can Sherwood be seen as a symbol of our own planet? Are we now entering the later stages of a Robin Hood drama, where peasants are at the throats of nobles over land grabbing and usury — I believe we are…
There is absolutely no legal basis for Jerry Brown entering into any treaty, alliance, or confederation with the EU. Governor Cuomo of New York has also committed treason saying “New York State is committed to meeting the standards set forth in the Paris Accord regardless of Washington’s irresponsible actions.”
The Great Gold Convulsion of 2017 (Tiffany D.)
Buyers pile in, convinced that this just might be the real deal. And once everyone is well and lathered up, someone pulls the plug, and all the hot money flows right back out again.
Last week was a great example. Gold stocks rallied hard on Tuesday, many up 4% to 5%. But there was zero follow-through in the next two days.
Big Oil's Pivot To Renewables Has Begun (Michael K.)
The face lift at Royal Dutch Shell has also been underway for a few years, although not entirely into clean energy. Shell executives have predicted peak oil demand by the end of the 2020s. With an eye on that looming risk, the Anglo-Dutch company has bet its future on natural gas, which while still a fossil fuel, is at least cleaner than coal and oil and could probably survive in an increasingly carbon-constrained global energy market. Shell is now one of the largest LNG exporters in the world. The large divestments from the carbon-intensive Canadian oil sands earlier this year can also be viewed as a decision to get out of expensive and dirty sources of energy. Shell says that it will increase its spending on biofuels, hydrogen and renewables by five-fold to $1 billion annually by 2020.
Additionally, research suggests that the corrosion interfered with disinfectants in the water and released iron and other bacterial nutrients, promoting the growth of Legionella bacteria. Researchers have since found high levels of Legionella in Flint water. If the waterborne bacteria are aerosolized—say, in the mist of a hot shower, humidifier, or water cooler—then inhaled, they can cause a life-threatening type of pneumonia called Legionnaires’ disease (named after a 1976 outbreak at an American Legion convention).
Gold & Silver
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