An unusually wonky post from the Professor. If you’re short on time, here’s the kicker:
> Why are Trump and his allies undermining financial stability? There may be an element of free-market dogma. But as always with this administration, you shouldn’t underestimate the importance of simple corruption. Tether is closely connected with the financial firm Cantor Fitzgerald, formerly run by Howard Lutnick, Trump’s secretary of commerce. On joining the government, Lutnick left his role at Cantor Fitzgerald — and handed it over to his sons.
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> This post is already long, so I’ll stop with a warning: Along with its many other sins, the Trump administration is doing its best to make a future financial crisis more likely. I hope the Democrats are paying attention and won’t let themselves be seduced by Wall Street and, worse, the blandishments of the crypto bros. Because if they don’t, they could set themselves for a 2008-type crash during a Democratic administration. And we can guess who will get the blame.
wh11 on
ah sure thing mr kruggers, instant settlement fully traceable borderless stablecoin transactions are totally the same thing as snail mail 1900s wildcat banking in bumfuck tuscaloosa go fuck yourself back in my day everything is 2008 my ass you old hack mf
2 Comments
An unusually wonky post from the Professor. If you’re short on time, here’s the kicker:
> Why are Trump and his allies undermining financial stability? There may be an element of free-market dogma. But as always with this administration, you shouldn’t underestimate the importance of simple corruption. Tether is closely connected with the financial firm Cantor Fitzgerald, formerly run by Howard Lutnick, Trump’s secretary of commerce. On joining the government, Lutnick left his role at Cantor Fitzgerald — and handed it over to his sons.
>
> This post is already long, so I’ll stop with a warning: Along with its many other sins, the Trump administration is doing its best to make a future financial crisis more likely. I hope the Democrats are paying attention and won’t let themselves be seduced by Wall Street and, worse, the blandishments of the crypto bros. Because if they don’t, they could set themselves for a 2008-type crash during a Democratic administration. And we can guess who will get the blame.
ah sure thing mr kruggers, instant settlement fully traceable borderless stablecoin transactions are totally the same thing as snail mail 1900s wildcat banking in bumfuck tuscaloosa go fuck yourself back in my day everything is 2008 my ass you old hack mf