|
Revolving Door Project@revolvingdoordc.bsky.social |
Who stands to benefit from the watered-down framework that Powell is pushing? Wall Street, his previous (& likely future) home! Per Jeremy Kress, Powell's preferred changes would free up $115 billion for big banks to pay out to their shareholders/execs.
1 replies 0 reposts 1 likes
|
|
Revolving Door Project
@revolvingdoordc.bsky.social
[ View ] |
Big banks can afford to retain more money to absorb losses instead of relying on public bailouts. But that'll modestly reduce private profits and bonuses.
So Powell, a Republican private equity veteran, is intervening on behalf of his wealthy friends.
jacobin.com/2024/03/jero...
0 replies 1 reposts 0 likes