Jesse Van Tol ([email protected])
@jessevantol
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Advocate & organizer for race & class fairness in banking, housing, business. Memphis to Madison to DC. Co-owner of the Green Bay Packers
@jessevantol.bsky.social
Joined June 2009
Tell me you're not qualified to be the CEO of a real estate company without telling me....
50 year mortgage is probably the most pro-homeowner government policy of the last two decades.
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It is correctly assumed that Trump's tariffs are hurting the economy. Less appreciated is the profound impact of ICE. They've created a ghost town in the heart of Chicago via @Carrasquillo, the best immigration reporter on the beat. https://t.co/g5jggAFPS6
thebulwark.com
Local communities are stepping up to save neighborhood restaurants and stores.
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Incredible reporting by @Reuters. Meta makes more money from ad fraud - as much as $16 billion - than all the NFL TV partners put together make on NFL ad sales. Theft on an epic scale.
Meta's fraud problem: The social media giant projected 10% of its 2024 revenue would come from ads for scams and banned goods, documents seen by @Reuters show https://t.co/sMmL09NETp
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IN CRYPTO AMERIKA THE STABELKOINAGE INSURES YOU! (Duh, Aaron)
Are stablecoins faster than Visa/MC? No Do stablecoins easily allow reversibility in case of fraud? No Do stablecoins provide rewards for the rich off the backs of then middle and working class? No Is your money in stabelcoins insured by the FDIC? No
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The bankers are right on this one. Stablecoins calling interest “rewards” is a serious problem that needs to be fixed as I wrote: https://t.co/Qchs0C6wRW
brookings.edu
Aaron Klein discusses a dangerous regulatory loophole for stablecoins in the wake of the GENIUS Act and how to resolve it
Just released - ABA and 52 state banking associations urge @USTreasury to uphold GENIUS Act's ban on stablecoin interest:
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Remember when we bailed out Silicon Valley Bank to protect VC billionaires from losing money at their bank to help “small business”
Over the past 5 years the wealth held by the top 0.1% has nearly doubled from $12 trillion to over $23 trillion.
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Did you know that your dad's administration: ✔️ Approved Capital One's takeover of Discover ✔️ Proposed to cut megabank capital requirements by $200B+ ✔️ Are planning to neuter big-bank stress tests later this week? Seems like your people haven't gotten the memo.
🏦Eric Trump on taking on the big banks: “They tried to take us out... now in turn, we won that battle. The battle I'd like to win against the big banks is I'd like to see them gone in such a big way. I would like to see them totally irrelevant.”
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We have an economy where gambling is becoming the (false) promise of financial opportunity
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This is an OCC problem, in part.
Something I hear consistently is: small banks are absolutely crawled all over in their exams, but bigger players (like Silicon Valley Bank) get wrist slaps and light treatment.
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Credit unions are nonprofits chartered to help people with a common bond. Why on earth would they need government insurance for accounts with $10 million?
As an industry, we can’t call credit union acquisitions of banks a top concern and then support a bill that gives credit unions $10M of deposit insurance. That’s exactly what’s being proposed.
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The Paxos/PYUSD fat fingered mint of $300T underscored the risk of minting a stablecoin in the absence of the fiat. That’s how Tether operates. I don’t mean the debate around their reserves, rather than Tether mints USDT to have a ready supply and call it “authorized but not
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This “jail house interview” with FTX’s Sam Bankman-Fried blames… wait for it… regulators and compliance for the company’s implosion:
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Lord of the Rings bank, founded/funded by Trump allies, receives conditional approval from the OCC in just 126 days.
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Fixed it for you
Bank deregulation set to unlock $2.6tn of Wall Street lending capacity
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Strange combo: end a program that props up tiny banks, but expand deposit insurance to help big regional ones.
This happened the day after @SecScottBessent gave a speech about the importance of community banking.
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Confirmed this is illegal
Yeah I don’t think this is legal but I’m checking.
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Yeah I don’t think this is legal but I’m checking.
Confirming that the Treasury Dept's Community Development Financial Institutions Fund, which promotes economic revitalization in distressed communities, has been RIFed. Key thing here though: while RIFs went out Friday, the language is pretty clear that they're not tied to the
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Confirming that the Treasury Dept's Community Development Financial Institutions Fund, which promotes economic revitalization in distressed communities, has been RIFed. Key thing here though: while RIFs went out Friday, the language is pretty clear that they're not tied to the
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