Ray Dalio: 'I want to be loud and clear, populism scares me' (BI)
"If you study the 1930s to understand what the wealth gap was in the 1930s, it rhymes. Populism is not just the belief that there is a wealth gap, although the wealth gap is the highest since the 1930s," he said. "In the 1930s every government that existed practically was populist. So populism by definition is nationalist and protectionist. And it's also a matter of values. There is a sense of threat, my country is losing its values to internationalism."
A handful of officials who’ve implemented the Dodd-Frank Act are vowing to keep running their agencies for months into Trump’s presidency. Atop the list of those sticking around is Federal Reserve Chair Janet Yellen. While traders hang on her every word about the economy, she also has tremendous sway over big banks, including powers to set directives that impact who they can lend to, what assets they can hold and what trades they can make.
While most bankers waited until a formal bidding process to signal their interest in buying failed financial institutions, Mr. Mnuchin told the Federal Deposit Insurance Corp. before then about his strong interest in First Federal, these people say. He had been doing the same for months with the thrift’s primary regulator, the Office of Thrift Supervision, which had the authority to decide whether to close First Federal.
Many Davos delegates will tell you they’re worried about the threat Trump poses to globalization and the postwar security order. But that wasn’t the mood on the first night of the Davos party trail. Nightcap events and cocktail parties hummed with optimism that he will be good for business as consultants, lobbyists and lawyers planned how quickly they could get back to Washington ahead of Friday’s inauguration.
The “global reflation” theme has therefore drowned out what in reality are increasingly divergent fundamentals in the G10, so that what markets are calling “global reflation” is really a strengthening of the divergence theme that will ultimately drive the Dollar stronger.
"Given other lawsuits, it is still too early to talk of having drawn a line under all matters," Cryan said in a message to the company's around 100,000 employees on Wednesday. "We are, however, nearing our objective of being able to concentrate primarily on the future instead of repeatedly having to look over our shoulders at past events."
Von Keyserling, the 71-year-old chair of the Representative Town Meeting in Greenwich, encountered the unnamed woman in the hallway. She told him it was “a new world” politically, to which he allegedly replied, “I love this new world, I no longer have to be politically correct,” according to the warrant.