Odds and Ends — 20 March 2023
Midsize US Banks Ask FDIC to Insure Deposits for Two Years
SBF shilled FTX risk model to FDIC chairman Gruenberg prior to collapse
Credit Suisse says $17 billion of its debt now worthless, angering bondholders
Credit Suisse said 16 billion Swiss francs ($17.24 billion) of its Additional Tier 1 debt will be written down to zero on the orders of the Swiss regulator as part of its rescue merger with UBS, angering bondholders on Sunday… It means AT1 bondholders appear to be left with nothing while shareholders, who sit below bonds in the priority ladder for repayment in a bankruptcy process, will receive $3.23 billion under the UBS deal.
But everything’s okay! Nothing to see here, pay attention elsewhere: Central banks to boost flow of US dollars amid market unease
In a statement the Bank of England, Bank of Japan, Bank of Canada, the European Central Bank, US Federal Reserve and Swiss National Bank launched the co-ordinated action to "enhance the provision of liquidity".
COVID-19: A look back on where the US succeeded and where we didn’t
Covid Politics Leave Florida Public Hospital Shaken
The turmoil at Sarasota Memorial, one of Florida’s largest public hospitals, began last year after three candidates running on a platform of ‘health freedom’ won seats on the nine-member board that oversees the hospital. Board meetings, once sleepy, started drawing hundreds of angry people who, like the new members, denounced the hospital’s treatment protocols for Covid-19. An internal review last month found that Sarasota Memorial did far better than some of its competitors in saving Covid patients’ lives. But that did little to quell detractors, whose campaign against the hospital has not relented. By then, the hospital had become the latest public institution under siege by an increasingly large and vocal right-wing contingent in one of Florida’s most affluent counties, where a backlash to pandemic policies has started reshaping local government.
Graham Says Indictment Will Help Trump Win in 2024
As we all know, Graham’s a tool. But I’ve seen a bunch of folks online saying that indictment will be a plus for Trump. I’m not buying it. Sure, Trump’s base will parrot his witch hunt spiel, but his base is the only part of the electorate that buys into it. And a Stormy Daniels hush money indictment would be the least of Trump’s legal troubles. The Atlanta DA, New York state’s AG, and the DOJ all have him in their crosshairs.
Why Ohio And Michigan’s Politics Continue To Diverge
Neighbors Ohio and Michigan are moving further apart in politics. Differences in ballot access may explain why.
Sunak Pivots Away From ‘Global Britain’
Is the United States Creating a ‘Legion of Doom’?
The emerging China-Russia-Iran axis may force the United States to choose between some unappealing options.
I’ve long thought that backing the Saudis has been a strategic blunder on the part of the US. Iran has a bigger population and a much longer history than Saudi Arabia has. Probably not a great idea to get in bed with either of them, but I wouldn’t put money on a bet that Saudi Arabia will still exist a few decades from now. Okay, yeah, that might be true of the US too.
House GOP Targets Alvin Bragg
Republicans are discussing firing off letters summoning employees of the Manhattan DA’s office for sworn testimony, according to a GOP official familiar with the plans. The potential request comes amid speculation about why the hush-money case was suddenly resurrected after being back-burnered by both state and federal prosecutors… Jim Jordan didn’t answer questions about whether he’d subpoena Bragg. Even if he does, it’s almost impossible to imagine Bragg or his subordinates answering questions about an ongoing probe or prosecution. While Republicans could threaten to hold him in contempt of Congress, the Justice Department would be unlikely to press charges in a partisan dispute.
When In Doubt, Pivot To The Laptop
A Devastating Toxin Is Bubbling Up From the Permafrost
Rising temperatures are releasing mercury into the Arctic.
Join Hive using my referral link