Jerome Powell is the ONLY problem solver in this fucked former “country”. Everyone else at all levels is manufacturing problems and evils at an exponentially increasing rate.
Now Powell has added another achievement: He broke the unbreakable Parkinson. He REPEALED a Federal program! Not quite as big as repealing a whole agency, but still unprecedented and heroic at a time when every program and emergency stays forever.
Via Wolf, the ‘lending facility’ invented just last year to bail out the Family Offices for tech tyrants was completely abolished. Not just turned down to Simmer awaiting the next bailout, but turned off and removed.
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The BTFP was conceived in all haste over a weekend in March 2023 and was announced on Sunday after two regional banks, Silicon Valley Bank and Signature Bank, had collapsed and were shut down by regulators on Friday, with visions of contagion turning this into a full-fledged financial crisis.
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Polistra's Mill 