An agency report detailed how fintech ‘neobanks’ could fall into the regulatory cracks. Nobody managed to patch them up, and now depositors can’t retrieve their own money.
financial industry
Posted inHousing
How an ‘Algorithm’ Turned Apartment Pools Green
RealPage, the rent-fixing software company currently under FBI investigation, also has apps for bogus fees, monetizing vacant apartments and inflating toxic property bubbles.
Posted inTAP
Democracy, Deshmocracy: Mega-Financiers Are Flocking to Trump
Today on TAP: Leading Wall Street and Silicon Valley pooh-bahs believe the tax cuts he’ll give them are a bigger deal than preserving democratic norms.
Posted inHousing
Hell Is an Underwater Landlord
Millions of tenants are trapped in a rotten cycle of overflowing trash, daily water outages, and a healthy rat population.
Posted inEconomic Policy
The Raiding of Red Lobster
The bankrupt casual restaurant chain didn’t fail because of Endless Shrimp. Its problems date back to monopolist seafood conglomerates and a private equity play.
Posted inPolitics
Pelosi May Back Industry-Friendly House Crypto Bill
The industry has become a major spender in political campaigns, and the most prodigious fundraiser among Democrats is taking notice.
Posted inTAP
Crypto: Back From the Dead
Today on TAP: It’s hard to think of a more useless financial invention. Crypto began as a fringe fad, disdained by the big investment banks. Now, Wall Street is cashing in.
Posted inLaw and Justice
Courts, Financial Industry Continue to Resist CFPB Enforcement
There are 16 cases that should go forward because of the Supreme Court ruling confirming the Bureau’s constitutionality. It’s been slow going.
Posted inHealth and Social Policy
Sam Bankman-Fried Is Not Entirely Wrong
FTX’s victims are getting up to 143 percent of their money back, because the system treated it like the fraud it was. As the Steward case shows, that’s not usually how bankruptcy works.
Posted inLaw and Justice
Judge Hearing Noncompete Cases Holds Stock in Companies That Use Noncompetes
Judge J. Campbell Barker’s stock portfolio is a spreadsheet full of conflicts of interest.