Berlin Voters Reject Bid to Become Climate Neutral by 2030 thumbnail

Berlin Voters Reject Bid to Become Climate Neutral by 2030

By The Geller Report

Germany and the rest of the Europe has suffered the terrible consequence of the big climate hoax.

When reality meets the lie, it’s seismic.

Berlin Voters Balk at Fast-Tracking Climate Neutrality by 2030

By

Berlin voters balked at a plan to make the German capital climate-neutral by law by 2030, which would have put it 15 years ahead of Germany’s national target.

The referendum, which would have obligated the city-state’s government to enshrine the climate goal in law, failed after fewer than the required 607,000 voters voted in favor, according to the state election commissioner’s tally. About 2.4 million people were eligible.

The result leaves in place a non-binding goal of climate neutrality by 2045, which is in line with the rest of Germany.

Referendum organizers, a nonprofit initiative called Klimaneustart Berlin, argued that Berlin’s governing body is “acting far too hesitantly.”

Days earlier, the Intergovernmental Panel on Climate Change warned that time to stop global warming of more than 1.5C is running out.

Germany, which emits the most carbon dioxide among European countries, has lagged on its emissions goals and was most recently thrown off track by the energy crisis following Russia’s invasion of Ukraine.

Read more.

Berliners vote down referendum on tighter climate goals

By 

BERLIN, March 26 (Reuters) – A referendum in Berlin on Sunday that would have bound the city to strive to be climate neutral by 2030 has failed, the city’s mayor Franziska Giffey said in a statement.

The measure would have forced the new conservative local government to invest heavily in renewable energy, building efficiency and public transport.

Had it passed, Berlin would have been one of the few major European cities with a legally binding goal to become carbon neutral in seven years.

The result “shows that the majority of Berliners also see that the demands of the referendum could not have been implemented – not even if they were cast into law,” Giffey said.

The European Union last year started a scheme to help 100 cities inside and outside of the bloc become climate neutral by 2030, but the scheme and the financial support it offers are not legally binding.

The referendum was a test of whether Germans, or at least Berliners, want Germany’s climate policy, which now aims to make Europe’s biggest economy carbon-neutral by 2045, to be more ambitious.

Read more.

AUTHOR

Pamela Geller

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EDITORS NOTE: This Geller Report is republished with permission. ©All rights reserved.

Raining on Medicaid Expansion’s Parade thumbnail

Raining on Medicaid Expansion’s Parade

By The Daily Skirmish – Liberato.US

North Carolina is becoming the 40th state to adopt Medicaid expansion with Republicans putting it over the top like they did in Virginia.  Medicaid expansion is the government health program for childless able-bodied adults making up to 38 percent more than the federal poverty level.  It’s how the Democrats claim so many more people have health insurance than before Obamacare, except Medicaid isn’t insurance – it’s welfare, more free stuff from the government.

Republican lawmakers in North Carolina resisted expansion for years but, apparently, an extra $1.75 billion in federal COVID money on top of the federal government covering most of the costs anyway made expansion irresistible.

Some bad things are going to happen in North Carolina because of Medicaid expansion.  First, it is foreseeable the projected enrollment will far exceed the 600,000 estimate.  In Virginia, for example, expansion advocates promised enrollment would never go over 400,000 but, currently, over 733,000 adults are enrolled.  Before COVID, enrollment in Medicaid expansion was 110 percent over projections nationwide – more than double what was expected.

Second, many states are finding their budgets under significant pressure from unexpectedly high Medicaid expansion costs.  The percentage of the state budget spent on Medicaid goes up and, sometimes, other programs have to be cut.  That’s what happens when you push welfare into the middle class above the poverty line; it gets a lot more expensive.

Third, the hospital lobby in North Carolina called expansion “an immediate shot in the arm” for struggling rural hospitals in the state.  But expansion is not likely to save them.  A recent study concluded:  “Instead of keeping hospitals open, hospitals in expansion states have closed their doors. Instead of creating hospital jobs, thousands of hospital jobs have been cut in expansion states. And instead of saving money, hospital losses are piling up following expansion.”  Medicaid expansion is clearly not the financial salvation supporters make it out to be.

Fourth, Medicaid expansion crowds out care for low-income and disabled children.  Another recent study found “per capita Medicaid spending growth on children in expansion states was less than one-third what it was in nonexpansion states….”  Why?  Because the needs of childless able-bodied adults have been given priority over the needs of such children.

I’ve just scratched the surface.  Other problems with Medicaid expansion include: state tax hikes to fund expansion, less access to healthcare when people move off private insurance and on to Medicaid which has fewer providers, and increasing dependency on government which is always the wrong way to go.

Today, about one in five Americans is on Medicaid.  Some will come off the rolls after extra federal COVID money ends but, as I mentioned earlier, Medicaid expansion enrollment had already ballooned before anyone had ever heard of COVID.  Even so, the day is coming – although it is still far off – when everyone realizes Medicaid expansion was another Democrat – and now Republican – pipedream full of wishful thinking.  It’s clearly not sustainable.  It’s easy to make a political career out of spending other people’s money.  But what will lawmakers posing for congratulatory photo ops today say to people when the parade marches into a ditch tomorrow?

©Christopher Wright. All rights reserved.

Visit The Daily Skirmish and Watch Eagle Headline News – 7:30am ET Weekdays

Biden’s Approval Plummets as Americans Fear Economic Downfall thumbnail

Biden’s Approval Plummets as Americans Fear Economic Downfall

By The Geller Report

President Biden is without question the worst POTUS of any of our lifetimes. God knows how much damage he will cause in the next 20 months. #Trump2024!

That he has any support at all is made possible by a corrupt and lying press.

BIDEN’S APPROVAL PLUMMETS AS AMERICANS FEAR ECONOMIC DOWNFALL

By Real News Now, March 23, 2023

Since Biden has became our President, there has been a slew of issues he has created as well as failed to address in a time sensitive manner. It’s becoming to the point where America has begun to wonder if he actively is destroying the country on purpose or if he is just simply the wrong man for the job.

Biden’s approval rating currently sits at just 38%, a significant drop from his 45% approval in February, according to a new poll from the Associated Press and the NORC Center for Public Affairs Research (AP-NORC).

— Hyde for Senate (@HydeforSenate) March 23, 2023

The Associated Press-NORC Center for Public Affairs Research, has released a poll on the approval ratings for the current president. In February, Biden was looking at an approval rating of 45%. Today we find out that number has dropped significantly to almost matching an all time low at a staggering 38%.

Read more.

AUTHOR

Geller Report Staff

RELATED TWEET:

Biden’s approval dips near lowest point at 38%.

No wonder…

Banking Crisis
Border Crisis
Inflation Crisis
Ukraine Crisis
Debt Crisis
Fentanyl Crisis

Should I keep going?

Is he really running for President again??

— Rep. Marjorie Taylor Greene🇺🇸 (@RepMTG) March 23, 2023

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EDITORS NOTE: This Geller Report is republished with permission. ©All rights reserved.

Inflation Reduction? Dems’ Climate Spending Spree Could Cost $1.2 Trillion, Analysts Say thumbnail

Inflation Reduction? Dems’ Climate Spending Spree Could Cost $1.2 Trillion, Analysts Say

By The Daily Caller

Democrats’ Inflation Reduction Act (IRA) could cost roughly $1.2 trillion in green energy subsidies, more than four times an initial government forecast of outlays, Bloomberg reported Thursday, citing analysts from Goldman Sachs.

The Congressional Budget Office (CBO) initially forecast that the law, a cornerstone of President Joe Biden’s efforts to decarbonize the U.S. economy, would cost the government $370 billion to boost investments in green technology, according to Bloomberg. Goldman Sachs’ findings mirror those of analytics firm Benchmark Mineral Intelligence, which reported in February that the estimated cost of battery manufacturing tax breaks would be roughly $136 billion over the next 10 years, more than four times the $30.6 billion estimated by the CBO.

“Early analysis of the IRA relied on unrealistic expectations to keep cost estimates down,” Heritage Foundation economist E.J. Antoni told the Daily Caller News Foundation in a statement. “As time has progressed and those rosy forecasts are pushed outside the realm of possibility, the real cost is becoming increasingly clear.”

Goldman analysts estimate that private companies, spurred by government benefits, will invest an additional $3 trillion, Bloomberg reported. Biden specifically called out “every single” Republican for siding with “special interests” over the American people in opposing the bill, in remarks made after he signed it into law in August.

The IRA offers a variety of tax credits and subsidies to wind, solar and battery production and encourages U.S.-based mining by linking battery subsidies to a requirement that at least 40% of all minerals are mined domestically or from certain allies. The bill also expanded a federal  loan program to support research and development of advanced batteries to be used in vehicles.

The massive climate bill would have an effect on inflation that was “statistically indistinguishable from zero,” according to a preliminary estimate made by the University of Pennsylvania Penn Wharton Budget Model made in July. President Joe Biden last August touted a letter signed by 120 economists, including some Nobel prize winners, which alleged that the bill would put “downward pressure” on inflation, based on a CBO estimate that the bill would cut government spending by $300 billion over 10 years, the Associated Press reported contemporaneously.

Then-House Minority Leader Kevin McCarthy argued at the time that the bill would spend “half-a-trillion of your money,” building on “trillions in wasteful spending that caused runaway inflation” in an August debate on the bill.

“Passing this bill today means more expensive bills for Americans tomorrow. And anyone who says otherwise isn’t telling the truth,” McCarthy said. “Your pocketbook is their plan to fund more inflationary spending.”

The White House did not immediately respond to a DCNF request for comment.

AUTHOR

JOHN HUGH DEMASTRI

Contributor.

RELATED ARTICLE: Staggering Price Tag, Logistical Hurdles Make Biden’s Climate Agenda A ‘Fool’s Errand,’ Report Says

EDITORS NOTE: This Daily Caller column is republished with permission. ©All rights reserved.


All content created by the Daily Caller News Foundation, an independent and nonpartisan newswire service, is available without charge to any legitimate news publisher that can provide a large audience. All republished articles must include our logo, our reporter’s byline and their DCNF affiliation. For any questions about our guidelines or partnering with us, please contact licensing@dailycallernewsfoundation.org.

Environmental Protection Shouldn’t Mean Economic Suicide thumbnail

Environmental Protection Shouldn’t Mean Economic Suicide

By Family Research Council

When I was in college in southern California many years ago, the smog could be overwhelming. Visibility was low and the sense of being closed-in by a layer of brownish-grey was ongoing. Then, one day it rained. The sky was actually blue and, to my great surprise, you could see the beautiful Sierra Nevada mountains in the distance.

In the ensuing 40-plus years, the United States has made great progress in its war against all manner of pollution. According to the Environmental Protection Agency, since the enactment of the Clean Air Act in 1970 through 2019, “the combined emissions of the six common pollutants (PM2.5 and PM10, SO2, NOx, VOCs, CO and Pb) dropped by 77 percent.” This has occurred even as energy consumption has remained at an almost constant level — despite growth in the population by about 100 million people.

The EPA also reports that “Compared to 1970 vehicle models, new cars, SUVs and pickup trucks are roughly 99 percent cleaner for common pollutants (hydrocarbons, carbon monoxide, nitrogen oxides and particle emissions).” Additionally, the U.S. is increasingly using renewable energy sources. One example: From 2000 through 2018, the use of coal as an energy source fell from about 23% percent of our total energy portfolio to about 13 percent. Similarly, clean natural gas went from accounting for about 24% percent of our energy consumption to about 31%. Other renewable energy sources (nuclear, solar, etc.) are also increasing. And, generally, the industrialized nations of Europe are also making notable progress.

But America still needs oil. A lot of oil. We will continue to need oil for decades to come. That is, unless we want to commit economic suicide.

That seems not to concern people on the environmental Left, who are outraged that President Biden opened up a relatively small sliver of Alaska for drilling. ConocoPhillips will drill 199 wells at three sites in the Willow Project area, employing 3,500 people outright and, over the longer term, several hundred in permanent jobs.

Here’s the irony: While America once again engages in national agony over a modest oil drilling plan, China is laughing up its sleeve at our tortured efforts to reduce carbon emissions. Just last year, China opened roughly two new coal plants a week. As recent report explains, in 2022 China’s construction of coal power plants was “six times as large as that in all of the rest of the world combined.”

India is in much the same boat. “From 2001 to 2021, India installed 168 gigawatts of coal-fired generation, nearly double what it added in solar and wind power combined,” according to one study. While the subcontinental nation is making strides toward clean energy use, the reality is that “its electricity demand will grow up to 6% every year for the next decade.”

To be clear, I’m not suggesting that America abandon its commitment to cleaner sources of energy. Rather, we have to simply be honest: If we tie ourselves to extreme environmental standards while much of the rest of the world keeps employing fossil fuels at record rates, we will only hurt our ability to foster job creation here at home and our capacity to compete successfully in the global economy.

Economic transitions can be hard. Carriage makers were no doubt unhappy with the advent of the automobile. The issue before us is how rapidly we should move toward a “carbon-neutral” economy. Under the Biden administration, even American agriculture is a target. In a biting analysis, Heritage Foundation scholar Daren Bakst reports that at last year’s White House Conference on Hunger, Nutrition, and Health, the administration advocated for policies that would “centrally plan how farmers produce food, what food farmers produce, and what food people eat.” The Biden plan “also appears far more concerned with environmental outcomes than efficiency, productivity, and affordability.”

As America moves toward “clean” energy, we should not do so to appease activists at the cost of jobs, prosperity, sound mining and farming policies, and our continued leadership in international markets. Our country does not exist in pristine isolation any more than the wind stops at our borders.

The only way we get a clean environment is if we have the resources to obtain it. The only way we have those resources is if we have a strong economy. And the only way we have a strong economy is if our laws and regulations make sense.

I love the memory of seeing mountains in the far distance. But I also like filling up my car’s gas tank affordably. We can have both economic growth and environmental health, but only if we also have a strong dose of national common sense.

AUTHOR

Rob Schwarzwalder

Rob Schwarzwalder is Senior Lecturer in Regent University’s Honors College.

RELATED ARTICLE: ‘A Lie’: Experts Denounce Biden Veto Preserving ESG Rule

EDITORS NOTE: This Washington Stand column is republished with permission. ©All rights reserved.


The Washington Stand is Family Research Council’s outlet for news and commentary from a biblical worldview. The Washington Stand is based in Washington, D.C. and is published by FRC, whose mission is to advance faith, family, and freedom in public policy and the culture from a biblical worldview. We invite you to stand with us by partnering with FRC.

ZOA Accuses Biden’s Handlers of Planning to Train, Equip and Deploy Palestinian Terrorists in Judea and Samaria thumbnail

ZOA Accuses Biden’s Handlers of Planning to Train, Equip and Deploy Palestinian Terrorists in Judea and Samaria

By Jihad Watch

The Biden administration is either dangerously naïve or worse. It is presenting this plan under the pretext of helping to curb terrorism in Judea and Samaria, yet ZOA says this “unconscionable and illegal plan” would aid Palestinian jihadists. Meanwhile, another report has exposed the U.S. State Department’s funding of an anti-Netanyahu Leftist group that is behind the chaotic protests in Israel. What exactly is the motivation of the Biden administration?

A news article by Tablet Magazine stated of America’s most recent plan:

Incredibly, the U.S. is now proposing to take advantage of its ally’s political weakness by standing up a potential 5,000-man Palestinian terror army that would ostensibly fight terrorism in the West Bank in place of the IDF.

Washington, D.C.’s latest bout of Mideast pyromania began with U.S. Secretary of State Antony Blinken’s visit to Ramallah at the end of January, right after a Palestinian terrorist shot dead seven Israelis outside a synagogue in Neve Yaakov.

The key words are “ostensibly fight terrorism in the West Bank in place of the IDF,” which puts a different spin on America’s possible intent from that of the ZOA below. But what would make the Biden administration actually think its plan could possibly work to bring Palestinians to “fight terrorism”? Given the administration’s consistent anti-Israel stance, does it really believe that arming, training and deploying Palestinians could be a trusted strategy to “fight terrorism,” rather than help perpetuate it?

In reality, such a plan would greatly empower the Palestinian “resistance.” History bears out the fact that the Palestinians do now want and never wanted peace. They aim to obliterate Israel from the River to the Sea, as is stated in the founding Charters of all the major Palestinian organizations, and they’re watching closely as America further positions itself as their ally rather than the ally of Israel.

Surely America should know that Israel cannot allow such a plan. The IDF, in fact, beefed up troops in Samaria last month in response to the escalating violence.

ZOA: Stop Biden/Blinken/Amr Unconscionable Plan to Establish Army of 5,000 Palestinian-Arab Terrorists plus U.S./Foreign Forces

Zionist Organization of America, March 17, 2023:

The Zionist Organization of America (ZOA) denounces, in the strongest possible terms, the Biden Administration’s unconscionable, illegal plan to provide commando training in Jordan to 5,000 Palestinian-Arab army of terrorists or future terrorists; and to then equip and deploy this Palestinian-Arab commando army in Judea/Samaria, along with foreign and U.S. forces.

The administration’s horrific, frightening, dangerous plan also requires Israel “to sharply curtail IDF counterterror operations.” U.S. security coordinator Lieutenant General (LTG) Michael Fenzel, who is currently responsible for training Palestinian Authority (PA) police in Judea and Samaria, proposed training the new 5,000-strong commando army, and deploying foreign forces, including U.S. military forces, on the ground.

Thus, under the Biden administration’s plan, Israel would be restricted from defending innocent Israelis from terrorists; and much of Judea/Samaria would become a “safe haven” for terrorists to retreat to and be celebrated after perpetrating murderous terror attacks in Israel, with no consequences.

Moreover, American and other foreign forces on the ground would become sitting ducks, subject to Palestinian-Arab terror attacks. American and foreign soldiers would also become human shields, who block Israel from going after the terrorists, lest foreign forces be caught in the crossfire. Further, the PA will want foreign forces to include Iranians, thereby introducing even more terror into the region…..

Read more.

AUTHOR

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EDITORS NOTE: This Jihad Watch column is republished with permission. ©All rights reserved.

Janet Yellen Says More Bank Bailouts Could Be On The Horizon thumbnail

Janet Yellen Says More Bank Bailouts Could Be On The Horizon

By The Daily Caller

Treasury Secretary Janet Yellen said in remarks Tuesday that regulators may insure all deposits at more banks following the Silicon Valley Bank (SVB) and Signature Bank depositor bailouts.

Yellen said the bailouts were essential to safeguard the U.S. banking system in prepared remarks at the American Bankers Association Tuesday, referencing the Treasury Department and Federal Reserve’s actions in guaranteeing the deposits of SVB’s customers.

“Similar actions could be warranted if smaller institutions suffer deposit runs that pose the risk of contagion,” she said.

Previously, Yellen had said similar actions would only take place for banks whose failure could pose a threat to the banking system.

“A bank only gets that treatment if a majority of the FDIC board, a super majority of the Fed board and I, in consultation with the president, determine that the failure to protect uninsured depositors would create systemic risk and significant economic and financial consequences,” Yellen said.

“Treasury is committed to ensuring the ongoing health and competitiveness of our vibrant community and regional banking institutions,” Yellen said, according to CNBC.

U.S. officials are examining possible methods to increase Federal Deposit Insurance Corp. (FDIC) coverage to more deposits as a way to stave off a possible financial crisis, according to Bloomberg.

Staff in the Treasury Department are evaluating if federal regulators possess sufficient emergency authority to temporarily insure all deposits over the $250,000 limit existing on most accounts, following the steps taken to cover SVB and Signature Bank depositors, according to Bloomberg.

As of now, authorities do not believe this move is essential, but they are working on a strategy in case circumstances devolve, according to Bloomberg.

“Since our administration and the regulators took decisive action last weekend, we have seen deposits stabilize at regional banks throughout the country and, in some cases, outflows have modestly reversed,” White House spokesman Michael Kikukawa said, not acknowledging if this step is being investigated, according to Bloomberg.

AUTHOR

JASON COHEN

Contributor.

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EDITORS NOTE: This Daily Caller column is republished with permission. ©All rights reserved.


All content created by the Daily Caller News Foundation, an independent and nonpartisan newswire service, is available without charge to any legitimate news publisher that can provide a large audience. All republished articles must include our logo, our reporter’s byline and their DCNF affiliation. For any questions about our guidelines or partnering with us, please contact licensing@dailycallernewsfoundation.org.

Why Are There No EV Charging Stations at Interstate Rest Stops? Blame the Feds! thumbnail

Why Are There No EV Charging Stations at Interstate Rest Stops? Blame the Feds!

By Foundation for Economic Education (FEE)

Joe Biden’s $5 billion funding plan for electric vehicles failed to allow rest stops to offer charging stations, an Atlanta news station discovered.

When Georgia resident Anita Jefferson pulls her Tesla out of her garage each morning, she knows it’s fully charged and ready to go. But she told a local reporter her confidence disappears when she hits the interstate. Charging stations seem few and far between, even at places where you’d expect them to be, like rest stops.

“The one place you would want to travel and stop would be a state rest stop,” Jefferson told an Atlanta news station. “I want to get an answer as to why they’re not there.”

Jefferson got her answer from WXIA-TV Atlanta’s Verify team: There are no charging stations at rest stops because they are prohibited under a federal law—one that stretches all the way back to the Eisenhower administration.

In 1956, Ike signed into law a bill—the Federal-Aid Highway Act—that paved the way (pun intended) for the interstate highway system, which included rest areas at convenient locations.

While there were numerous problems with the legislation, a relatively minor one was that it created strict limits on what could be sold at these rest stops. Today, federal law limits commercial sales to only a few items (including lottery tickets), the Verify team found. When President Joe Biden rolled out a $5 billion funding plan for states to create EV charging stations, he neglected to carve out a commercial exemption for EVs.

“You would be paying for that energy,” Natalie Dale of the Georgia Department of Transportation told WXIA-TV Atlanta. “That would count as commercialized use of the right-of-way and therefore not allowed under current federal regulations.”

If you think this sounds like an inauspicious roll out to the massive federal EV program, you’re not wrong.

Allowing drivers to charge their EVs at convenient, familiar locations that already exist along interstate highways is a no-brainer—yet this simple idea eluded lawmakers in Washington, DC.

Unfortunately, it illustrates a much larger problem with the top-down blueprint central planners are using to create their EV charging station network.

“We have approved plans for all 50 States, Puerto Rico and the District of Columbia to help ensure that Americans in every part of the country…can be positioned to unlock the savings and benefits of electric vehicles,” Transportation Secretary Pete Buttigieg said in a 2022 statement.

While it’s good the DOT isn’t trying to single-handedly map out the locations of thousands of EV charging stations across the country, there’s little reason to believe that state bureaucrats will be much more efficient. A review of state plans reveals a labyrinth of rules, regulations, and stakeholders dictating everything from the maximum distance of EV stations from highways and interstates to the types of charging equipment stations can use to the types of power capabilities charging stations must have.

The primary reason drivers enjoy the great convenience of gasoline stations across the country—there are some 145,000 of them today—is that they rely on market forces, not central planning. Each year hundreds of new filling stations are created, not because a bureaucrat identified the right location but because an entrepreneur saw an opportunity for profit.

Bureaucracy will never be able to match the efficiency of markets, which use millions of signals to reach decisions, and are constantly being corrected by market changes, all in the pursuit of serving customers and making a profit.

This, the economist Ludwig von Mises pointed out, is precisely the opposite of what bureaucrats do.

“A bureaucrat differs from a nonbureaucrat precisely because he is working in a field in which it is impossible to appraise the result of a man’s effort in terms of money,” Mises wrote in his seminal work Bureaucracy.

Just how burdensome these regulations will prove remains to be seen.

While some states will develop EV charging plans more amenable to market forces than others, all of them are likely to suffer to some extent because the push toward EVs itself has been top-down, driven by politicians trying to push consumers off of gas-powered vehicles.

What’s clear is that the bureaucratic structure of DOT’s charging station blueprint does not bode well for consumers. Charging technology and transportation are constantly evolving, and politicians and bureaucrats simply can’t respond to these changes as efficiently as markets.

So while there is much talk today that EV charging stations will soon outnumber gas stations, there’s reason to be skeptical of this claim—even with the government’s $5 billion spending spree.

There’s little reason to believe that state planners will create a framework with the proper incentive structure to meet the market’s needs. Bureaucrats and politicians lack both the knowledge and proper incentives to create a functional EV market.

If you doubt this, just ask Anita Jefferson, who can’t even charge her Tesla at rest stops—because of a federal law passed in 1956.

AUTHOR

Jon Miltimore

Jonathan Miltimore is the Managing Editor of FEE.org. (Follow him on Substack.) His writing/reporting has been the subject of articles in TIME magazine, The Wall Street Journal, CNN, Forbes, Fox News, and the Star Tribune. Bylines: Newsweek, The Washington Times, MSN.com, The Washington Examiner, The Daily Caller, The Federalist, the Epoch Times.

EDITORS NOTE: This FEE column is republished with permission. ©All rights reserved.

U.S. Senator James Lankford: Biden’s Policies Are Taking Us in the Wrong Direction thumbnail

U.S. Senator James Lankford: Biden’s Policies Are Taking Us in the Wrong Direction

By Family Research Council

Seventy-two percent of Americans say we’re headed in the wrong direction under President Biden’s leadership. I am one of them, and it’s pretty likely you are too.

In Oklahoma, and much of the nation, everyday life is harder and less safe under President Biden’s economy and policies. Groceries, rent, and crime rates are up, but retirement savings are down. More people are forced to live paycheck to paycheck. These are the areas we should focus on solving.

We finally convinced the Biden administration to restart construction on the southwest border wall and to start dealing with the open border asylum policy he created. I spent hours over the past few days meeting with immigration officials and asylum officers to lay out practical ways to stop illegal immigration. The administration has the tools to stop illegal immigration; they have just chosen not to do it.

When the California-based Silicon Valley Bank (SVB) collapsed, the administration panicked. We need calm leadership that will confront bad management at one of our nation’s largest banks but not cause bank problems in well capitalized banks like what we have in Oklahoma. It’s clear now that this administration is willing to put a new fee (read: tax) on every bank, and by default every person with a bank account, to cover the losses of big California and New York banks who are more concerned with their ESG score than their liquidity and good management.

After passing the forced government price controls in the partisan so-called “Inflation Reduction Act,” at least four drug manufacturers have pulled new drugs, many being cancer treatments, from development in the last six months because they can’t make them work under President Biden’s new overreaching law. So, the new drug-pricing scheme from the president has already started reducing the number of new cancer treatments available to Oklahomans. More government control often means fewer options for Americans, and it’s already proving true on the new drug pricing policy.

In the same “Inflation Reduction Act” and in President Biden’s latest State of the Union address, he told everyone that we were going to “buy American.” But the new Japanese, German, and Canadian green energy projects will all be called “American” projects for the special tax treatments and purchasing under the Inflation Reduction Act. I bet you never thought about Japan, Germany, and Canada when the president stated that he would “buy American.”

There are solutions to bring down the price of drugs by increasing competition, not government controls. I’ve proposed solutions to address our debt and deficit and waste in federal spending. I continue to push the Department of Homeland Security to enforce the border and address the loopholes in our immigration laws. We have a stable banking system in Oklahoma, but we need national leadership that does not undermine our economic health.

I hear my neighbors in Oklahoma who also see the problems and want solutions. I will keep pushing to help make life better for every American, so we can get our nation headed back in the right direction and people can stop worrying about the future of the greatest nation that has ever existed on God’s earth.

AUTHOR

Senator James Lankford

James Lankford has served as a U.S. Senator for Oklahoma since 2014.

RELATED ARTICLE: As CBP Chief Admits Lack of Border Control, Rate of Terrorist Encounters Rises

EDITORS NOTE: This Washington Stand column is republished with permission. ©All rights reserved.


The Washington Stand is Family Research Council’s outlet for news and commentary from a biblical worldview. The Washington Stand is based in Washington, D.C. and is published by FRC, whose mission is to advance faith, family, and freedom in public policy and the culture from a biblical worldview. We invite you to stand with us by partnering with FRC.

U.S. to Spend $50 Million on “Post-Release Services” for Migrant Youths thumbnail

U.S. to Spend $50 Million on “Post-Release Services” for Migrant Youths

By Judicial Watch

As part of the red carpet rollout for illegal immigrants the Biden administration is dedicating tens of millions of dollars to provide migrant youths with a multitude of services once they are released from government shelters. This includes medical, educational, legal and an array of other services. American taxpayers will also fund detailed home studies by deploying case managers to conduct intensive in-home engagements and virtual check-ins to ensure the safety and continued support for the young migrants and the families they have been released to. On its face the program for migrant youth—officially labeled Unaccompanied Alien Children (UAC) by the government—appears to be superior to the system that manages hundreds of thousands of U.S. children in similar situations, such as foster care.

Private and public educational institutions, small businesses, city and county governments, tribal organizations as well as nonprofits will receive government funding to assure UAC are well taken care off. The money will flow through the Department of Health and Human Services (HHS), which is charged with caring for illegal aliens under the age of 18. In a recent grant announcement the agency’s Office of Refugee Resettlement (ORR) reveals that it will allocate $50 million—and possibly up to $300 million—for the Home Study (HS) and Post-Release Services (PRS) for unaccompanied children. “PRS providers will be charged with a scope of services that includes three levels – virtual check-ins, case management services, and intensive in-home engagements,” the grant document states. “ORR provides Home Studies and PRS nationwide and needs HS/PRS providers to serve both high-need and remote locations where sponsors of unaccompanied children reside.” The agency encourages providers located in or near geographic areas where UAC are commonly unified with sponsors to apply.

HHS has spent a fortune to care for the onslaught of mostly Central American youths that have crossed into the U.S. through the Mexican border. Typically those under 18 are welcomed with open arms and hundreds of thousands have entered the country in the last few years. HHS spends billions of dollars annually to house, medically treat, entertain, and school UAC and the agency funds and oversees dozens of state-licensed care facilities to house the young migrants when they arrive in the U.S. As of January 27, 2023, there are approximately 7,565 UAC in HHS care, according to the latest agency figures. In fiscal year 2021 ORR housed an unprecedented 122,731 UAC. In fiscal year 2022, a record 149,000 UAC were apprehended by federal agents. The overwhelming majority of UAC in U.S. custody, approximately 72%, are over 14 years of age and 66% are male. Nearly half (47%) came from Guatemala, 32% from Honduras, 13% from El Salvador and 8% from other countries.

Since illegal immigrant minors are almost always allowed to remain in the U.S. and are quickly disbursed to a government-funded shelter upon arrival at the border, security screening is dismal. The flawed system has allowed hardcore criminals and violent gangbangers to slip through. For instance, a teenage Salvadoran gang member recently arrested for the murder of a Maryland woman came to the U.S. as a UAC. A few years ago two UAC were charged with raping a 14-year-old girl in the bathroom of a Maryland public high school. The illegal immigrants were both charged with first-degree rape and two counts of first-degree sexual offense. Both were in the ninth grade like their victim. One came from El Salvador and the other from Guatemala. A year earlier two UAC, both 17, from Central America executed a Massachusetts man by shooting him in the head shortly after being welcomed into the U.S. by the Obama administration. Both had ties to the notoriously violent street gang Mara Salvatrucha (MS-13), authorities disclosed at the time. The media described the violent gangbangers as “baby-faced boys.”

Shortly after the first batch of UAC arrived in mid-2014, Judicial Watch reported that many had ties to gang members in the U.S., specifically MS-13. Homeland Security sources directly involved with the border crisis told Judicial Watch that street gangs, including MS-13, went on a recruiting frenzy at U.S. shelters housing the migrant youths and Red Cross phones were used to communicate. The MS-13 is a feared street gang of mostly Central American illegal immigrants that has spread throughout the U.S. and is renowned for drug distribution, murder, rape, robbery, home invasions, kidnappings, vandalism, and other violent crimes. The Justice Department’s National Gang Intelligence Center (NGIC) says criminal street gangs like the MS-13 are responsible for most violent crimes in the U.S. and are the primary distributors of most illicit drugs.

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EDITORS NOTE: This Judicial Watch column is republished with permission. ©All rights reserved.

Blinken announces $150,000,000 in ‘humanitarian aid’ for Niger, Burkina Faso, Chad, Mali and Mauritania thumbnail

Blinken announces $150,000,000 in ‘humanitarian aid’ for Niger, Burkina Faso, Chad, Mali and Mauritania

By Jihad Watch

The dough is supposed to help them care for the victims of “Islamist insurgencies,” but as we have abundantly documented here, these countries have been singularly inept or indifferent in fighting these “insurgencies.” The money is really to try to keep these countries from falling completely into China’s sphere of influence.

Blinken brings U.S. aid to Sahel for fight against Islamist insurgencies

by Daphne Psaledakis, Reuters, March 16, 2023:

NIAMEY, March 16 (Reuters) – U.S. Secretary of State Antony Blinken announced $150 million in new humanitarian aid for Africa’s Sahel region during a visit on Thursday to Niger, a country Washington views as an important ally in the fight against Islamist insurgencies.

Blinken’s visit to Niger is the first by a U.S. Secretary of State and a strong show of support for an impoverished nation that has had relative success in containing rebel groups and managed a democratic transition in a coup-prone region.

“It will help provide life-saving support to refugees, asylum seekers, and others impacted by conflict and food insecurity in the region,” Blinken said in a statement about the new aid, which will go to Niger, Burkina Faso, Chad, Mali and Mauritania as well as Sahelian refugees in Libya.

Blinken’s trip is the latest in a series of visits to Africa by U.S. government figures as Washington seeks to boost ties with a continent where China’s influence is strong and many countries maintain cordial relations with Russia.

Landlocked Niger and its neighbors Mali, Burkina Faso, Nigeria and Chad are all struggling to repel Islamist insurgents who have killed thousands of people, displaced millions more and in some cases seized control of vast swathes of territory.

Groups linked to al Qaeda and Islamic State have carried out dozens of attacks in southwestern Niger, including some in which dozens of Nigerien soldiers were killed, but the violence has not spread across the whole country as it has done elsewhere.

Shortly after landing in the capital Niamey, Blinken met with people involved in a program, partly funded by the U.S., to disarm and rehabilitate defectors from extremist groups.

‘RIGHT CHOICES’
While violence in Mali and Burkina Faso led to military coups and a shift in alliances away from Western nations and towards Russia, Niger managed a democratic transfer of power in 2021 and has retained smooth relations with the West.

“They’re making the right choices, we think, to help deal with the kind of threats that are common across the Sahel. So, we’re trying to highlight a positive example,” a senior State Department official told reporters….

When thousands of French soldiers were kicked out of Mali during a dispute with the junta there last year, they moved their base into Niger….

AUTHOR

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EDITORS NOTE: This Jihad Watch column is republished with permission. ©All rights reserved.

No More $$$ or Warfighting Equipment to Ukraine thumbnail

No More $$$ or Warfighting Equipment to Ukraine

By Royal A. Brown III

Zelensky and most of his govt are corrupt oligarchs and our Congress has not done their oversight job regarding all the U.S. assets sent to him. Accountability is non-existent and we should not send anything else unless and until oversight and accountability to the U.S. taxpayers is firmly established and is accurate.

NATO already does not pay its fair share for their defense and continue to depend on the U.S. to contribute the lion’s share. POTUS Trump was right on this and NATO was improving but then went right back to leaning on the US for most of major support for Ukraine. The equally feckless UN has also done nothing. Past time for those most directly affected to pony up their fair share especially since US direct national security is not involved.

The argument that if we don’t stop Russia the Chinese will be further emboldened to invade Taiwan is ludicrous – the feckless Obama 3/Beijing Joe Biden regime no longer scares China and supporting Ukraine won’t make a difference in their actions. There is no doubt the Russian invaders should pull out of the eastern regions of Ukraine they occupy and that Putin would like to see a return to the old Soviet Union power base but continuously poking the Russian Bear is not the way to make them pull out of eastern Ukraine. Zelensky had a chance for peace negotiated by Israel requiring him to stop pushing to join NATO but refused.

The left and RINO neocons are suggesting we provide Ukraine with offensive weapons like long range missiles and F 16 fighter/bombers for use in striking inside Russia and this would surely escalate the war not stop it. The positioning of U.S. boots on the ground in Poland in the form of the 101st Airborne Division is a further provocation. No U.S. military boots should set foot in Ukraine. The failed Obama/Biden administration had an opportunity to show strength against the Russian takeover of Crimea back in early 2014 and did nothing except impose ineffective sanctions. This failure emboldened the Russians. It is doubtful they will ever return mostly pro-Russian Crimea but a peaceful solution could return use of Black Sea ports in Crimea to Ukraine.

I would remind all that every major war since Korea has been started by and prosecuted by Democrats and neocons e.g. Vietnam, Iraq, Afghanistan at a cost of over 64,000 US lives and Trillions of dollars; many tens of thousands of wounded and maimed and ended in failure. Only the war against ISIS in Syria, Iraq and other Islamist countries was successfully conducted by President Trump who also got us out of Iraq and had a plan to get us out of Afghanistan without further loss of U.S. lives, equipment and key air base. The Biden pullout of Afghanistan was an unmitigated disaster. We can not trust the Obama 3/Beijing Joe Biden regime to get us out of the war between Russia and Ukraine.

The article at link below describes some of the corruption going on in Ukraine including information that only 30% of cash and equipment U.S. has sent to Ukraine is actually going where intended to help them fight war with Russia.

Ukraine’s History of Corruption a Growing Concern as US Military Aid Surges

By • Published on March 18, 2023

ince Russia invaded Ukraine on Feb. 24, 2022, the United States has provided Kyiv with military, economic, humanitarian, and other forms of aid.

According to official sources, the total U.S. contribution to the Ukrainian war effort now stands at some $113 billion, vastly exceeding contributions made by Kyiv’s other allies.

But as the bills have continued to mount, so have calls for greater oversight as to how those funds are being spent. Recent corruption scandals in Kyiv have raised fears that U.S. taxpayer dollars are, in the absence of accountability, being squandered.

What’s more, dissident voices are pointing out that the war shows little–if any–sign of ending soon, despite the West’s seemingly boundless support for Ukraine.

Breaking It Down

Responding to questions from The Epoch Times, the Washington-based Committee for a Responsible Federal Budget (CRFB) confirmed that the $113 billion figure was “still accurate.”

This figure, it explained, “includes only the funding packages Congress approved through December 2022, and Congress has not approved any further packages in 2023 thus far.”

According to CRFB data, roughly three-fifths of the $113 billion ($67 billion) has been allocated for “defense needs,” while the remaining two-fifths ($46 billion) has been earmarked for “non-defense concerns.”

More precise breakdowns can appear bewildering, with official and semi-official sources (state agencies, think tanks, media outlets, etc.) often appearing to contradict one another.

“The confusion tends to be in how money is appropriated and spent by the government,” said the CRFB, a nonpartisan group with the stated aim of “educating the public on issues with significant fiscal policy impact.”

Congress, the group explained, “has constitutional authority to decide how much federal spending there should be–the “power of the purse”–while the Executive Branch (the president and other agencies) are charged with spending that money.”

“Depending on when you account for that spending will get you different amounts,” the CRFB added, “because it takes the Executive time to actually spend the money Congress appropriates.”

Read more.

©Royal A. Brown. All rights reserved.

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Biden Treasury Secretary’s Policy Destroys Small U.S. Banks While Bailing Out Chinese Depositors, Experts Say thumbnail

Biden Treasury Secretary’s Policy Destroys Small U.S. Banks While Bailing Out Chinese Depositors, Experts Say

By The Geller Report

Once the big four banks control all the money, they will control everything else, including what kind of business you can run, what you can and cannot say on social media, and what opinions you can hold.

This is the biggest power grab since the election rigging of 2020.

By: Jason Cohe, Daily Caller, n on March 17, 2023

  • Treasury Secretary Janet Yellen’s recent decision to backstop all uninsured deposits at two failed banks due to their “systemic risk” to the U.S. economy not only benefits the Chinese Communist Party, but also potentially endangers smaller financial institutions, experts told the Daily Caller News Foundation. 
  • Silicon Valley Bank and Signature Bank both collapsed last week, resulting in a full takeover of the financial institutions by the Federal Deposit Insurance Corporation. 
  • “It’s absolutely atrocious that we are yet again, using taxpayer money to bail out the CCP,” E.J. Antoni, research fellow for Regional Economics at The Heritage Foundation’s Center for Data Analysis, told the Daily Caller News Foundation. 

Treasury Secretary Janet Yellen’s recently announced policy to safeguard all uninsured deposits at failing banks deemed to be a “systemic risk” to the U.S. economy would destroy smaller financial institutions while simultaneously bailing out Chinese depositors, experts told the Daily Caller News Foundation.

Yellen, alongside the Federal Deposit Insurance Corporation and Federal Reserve, announced Sunday that all uninsured depositors who held accounts at the now-defunct Silicon Valley Bank (SVB) and Signature Bank would be fully covered, adding that “decisive actions” were needed to “protect the U.S. economy.” SVB was particularly popular among Chinese tech startups, as it provided easy access to U.S. investor funding, CNBC reported.

SVB’s stock collapsed last week amid numerous customer bank runs following the institution’s disclosure of a $1.8 billion net loss on asset sales on the back of high interest rates, forcing regulators to shut down the bank. Just two days later, Signature Bank, a premier lender in the crypto space, was closed by regulators due to “systemic risks,” CNBC reported.

A bailout of uninsured depositors at the collapsed banks benefits the Chinese Communist Party at taxpayers’ expense and could lead to stricter regulatory controls that smaller U.S. banks would be unable to withstand, experts told the DCNF.

“It’s absolutely atrocious that we are yet again, using taxpayer money to bail out the CCP,” E.J. Antoni, research fellow for Regional Economics at The Heritage Foundation’s Center for Data Analysis, told the DCNF. “And so now whenever the government has these knee-jerk reactions, we end up sending dollars where the American people would not like them to go.”

During COVID-19, when the government authorized sending Payment Protection Program loans and unemployment payments, it also distributed taxpayer dollars to individuals in China, Antoni told DCNF. “Anytime the government spends money, they’re by definition spending taxpayer dollars … So taxpayers are ultimately on the hook for all of this.”

In 2012, SVB launched a joint venture with Shanghai Pudong Development Bank (SPDB), resulting in the creation of SPD Silicon Valley Bank Co., CNBC reported. The venture was focused on providing services to tech startups.

Additionally, in the wake of the SVB collapse, lawmakers may seize on the chance to create a restrictive regulatory environment that “small community banks are just not going to be able to withstand,” according to Alfredo Ortiz, president and CEO of the Job Creators Network.

Unlike big banks, smaller financial institutions face greater scrutiny from regulators, Anne Balcer, Independent Community Bankers of America senior executive vice president and chief of Government Relations and Public Policy, told the DCNF.

“There’s almost a disproportionate or heightened scrutiny on the smaller institutions,” Balcer said. “Regulators keep a much tighter leash on the community banks, which is ironic,” because they are less risky than banks like SVB.

Read more.

EDITORS NOTE: This Geller Report is republished with permission. ©All rights reserved.

How Government from the School House to the White House Subsidizes FAILURE! thumbnail

How Government from the School House to the White House Subsidizes FAILURE!

By Dr. Rich Swier

“A fine is a tax for doing something wrong. A tax is a fine for doing something right.” — Anonymous

“I’m proud to pay taxes in the United States; the only thing is, I could be just as proud for half the money.” — Arthur Godfrey

“The income tax created more criminals than any other single act of government.” — Barry Goldwater


American taxpayers are feeling the pinch as they see $Trillions going to everyone but themselves and their families.

We believe that the most onerous form of U.S. taxpayer abuse is the federal government’s subsidizing of failure.

Taxes should be used to reward success, not failure. That’s common sense. If you want more success then reward conduct that produces more success.

Today, the vast amount of federal taxpayer money being spent is on those who are failures. Therefore, by definition, we the people get for our money more and more failures!

Be it companies, banks, non-profits, people or nation states. Bailouts are now the norm rather than the exception. Bailouts and government subsidies are now the rule rather than the exception—politicians are subsidizing failure.

Therefore we get more and more failure.

Here are our top egregious abuses created by the federal government against the American taxpayers from the year of our Lord 1635 to the year 2023:

  1. The 16th Amendment. Perhaps the most egregious act ever put into the U.S. Constitution is the 16th Amendment to the U.S. Constitution (Amendment XVI) which was passed by Congress in 1909 in response to the 1895 Supreme Court case of Pollock v. Farmers, allowing Congress to levy an income tax without apportioning it among the states on the basis of population. Bill Benson’s findings, published in “The Law That Never Was, The Fraud of the 16th Amendment and Personal Income Tax,” made a convincing case that the 16th amendment was not legally ratified and that Secretary of State Philander Knox was not merely in error, but committed fraud when he declared it ratified in February 1913. Read more about how the 16th Amendment was not ratified by the states. The most harmful and long lasting part of what the 16th Amendment did is provide presidents and the U.S. Congress with an endless flow of money to fund failures.
  2. The Failed Great Society Agenda. Funding Broken Families. One of the first acts of funding failure was Lyndon B. Johnson’s failed 1963 Great Society program. A program that made sweeping cultural and legislative reforms that failed. The Great Society began the destruction of the traditional family. It created fatherless homes where if a man was present in the household then welfare was denied. A series of 200 laws were passed to and signed into law by Lyndon B. Johnson from 1964 to 1966 that fundamentally transformed for the worse public education, healthcare and America’s culture of meritocracy, in the name of “reversing racial inequality.” Rather than reducing poverty, Johnson’s Great Society created more government dependency. Click here to watch the video: Lyndon B. Johnson: Failures & Downfalls.
  3. Taxpayer Funded Failed Public Schools. On April 23, 1635, the first public school in what would become the United States was established in Boston, Massachusetts. The Boston Latin School, established in 1635, was the first school in what is now the United States. Although it has changed locations, the public school is still operating today. Since 1635 government control of education has failed to teach children how to succeed. Today America’s public education system teaches children what to think not how to think. One example is for the first time in 100 years America’s average IQ has declined. Schools have become the propaganda arm of government because it is the government that funds public schools. Add to this the growing influence of teacher’s unions and we have the perfect mix of failure built upon failure. This government control has inextricably lead to the dumbing down of young Americans to a 6th-grade level. Note: According to FAIR, providing education, health care, law enforcement, and social and government services to illegal aliens and their dependents costs Texas taxpayers $12.1 billion a year.
  4. Corporate Bailouts Paid for by Taxpayers. In an April 15, 2020 Forbes article titled The Truth About The COVID-19 Bailouts Kathryn Judge reported, “One of the biggest lies that very smart people are spreading right now is that the government’s efforts to shield large corporations from COVID-19 do not give rise to moral hazard. They do. By allowing shareholders and creditors to avoid losses they agreed to bear, these policies will induce companies to continue to take on too much debt. This increases the fragility of the corporate sector and makes it more likely that the government will have to come to the rescue again when the next crisis strikes. Acknowledging this moral hazard does not negate the importance of the rescue efforts underway. When fear and uncertainty cause markets to seize up, the government should help restore the flow of money and credit. Doing so eases the pain that the crisis inflicts and lays the foundation for a smoother recovery. But that is no reason to deny the government’s recent efforts also have costs, particularly when there are ways to reduce those costs.”
  5. Bank Bailouts Funded by Taxpayers. CNN Money reported that since 2008 the Treasury Department has invested about $200 billion in hundreds of banks through its “Troubled Assets Relief Program (TARP)” program. Congress initially authorized $700 billion for TARP in October 2008, that authority was reduced to $475 billion by the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act). This was an effort to prop up capital and support new lending which led to banks becoming dependent on taxpayer funded bailouts. Here’s a list of the banks that got bailed out. This does not include the most recent bailouts of Silicon Valley Bank (SVB) and several other banks in 2023, which has in effect nationalized the U.S. banking system.
  6. Taxpayer Funded Healthcare. David U. Himmelstein, MD and Steffie Woolhandler, MD, MPH in a 2016 National Library of Medicine study titled The Current and Projected Taxpayer Shares of US Health Costs found “We tabulated official Centers for Medicare and Medicaid Services figures on direct government spending for health programs and public employees’ health benefits for 2013, and projected figures through 2024. We calculated the value of tax subsidies for private spending from official federal budget documents and figures for state and local tax collections. Results. Tax-funded health expenditures totaled $1.877 trillion in 2013 and are projected to increase to $3.642 trillion in 2024. Government’s share of overall health spending was 64.3% of national health expenditures in 2013 and will rise to 67.1% in 2024. Government health expenditures in the United States account for a larger share of gross domestic product (11.2% in 2013) than do total health expenditures in any other nation.Note: This study does not include the costs of providing free healthcare to illegal aliens. Department of Homeland Security (DHS) has projected the cost of funding illegal aliens at $21.6 billion.
  7. Taxpayer Funded Green Energy Projects. In 2019 TalkBusiness.net in a column titled Renewable energy collects 93% of federal subsidies reported, Renewable energy obtained 93% of federal energy fuel subsidies while generating 22% of total U.S. energy in fiscal year 2016, according to data from the U.S. Energy Information Administration (EIA). Many states also waive tax payments for renewable energy or offer other deals for renewable energy production. The EIA recently evaluated energy-related subsidies that the federal government provided in fiscal year 2016 as an update to a study on fiscal years 2013 and 2010. Federal subsidies that support non-fossil fuels, including renewable energy and nuclear power, were $7.047 billion in fiscal year 2016, and more than 14 times higher that the subsides for fossil fuels, which were $489 million. The previous subsidies don’t include state or local subsidies, mandates or incentives. Three-fifths of states have mandated levels of renewable energy production, and the incentives that many states provide have been a result of lobbying by renewable energy interests, according to the Institute for Energy Research (IER).” American Action Forum estimates that the Green New Deal (GND) as enacted “will cost every American household $65,000 per year and a total price tag could reach $93 trillion in the first 10 years alone.
  8. Taxpayer funded Murder via Abortion. On March 28, 2017 Carole Novielli reported, “The Centers for Medicare and Medicaid Services has published shocking information dispelling Planned Parenthood’s deceptive talking points that federal taxpayers are not funding abortions. This information is critical, because if the American taxpayers understood what their money really goes to, they would oppose federal funding of the nation’s largest abortion provider, whose abortion market share is almost 35 percent nationally…A 2015 Forbes blog on health care and entitlement reform contended that ‘taxpayers subsidize roughly 24% of all abortion costs in the U.S. with 6.6% borne by federal taxpayers and the remaining 17.4% picked up by state taxpayers.’” On Oct 2, 2015 Forbes’ Chris Conover reported, “As best I can determine, taxpayers subsidize roughly 24% of all abortion costs in the U.S. with 6.6% borne by federal taxpayers and the remaining 17.4% picked up by state taxpayers. If we apply the 24% figure to the total number of abortions,  this is equivalent to taxpayers paying the full cost of 250,000 abortions a year, with about 70,000 financed by federal taxpayers  and 180,000 financed by state taxpayers.”
  9. Funding of Foreign Wars. American taxpayers have funded multiple war efforts from the War of 1812 cost $1.78 billion, Mexican-American War cost $2.72 billion, American Revolution cost $2.75 billion, Spanish-American War cost $10.33 billion, American Civil War (Union and Confederate) cost $91.16 billion, WW I cost $381.8 billion, WW II cost $4.69 trillion, Korean War cost $389.81 billion, Vietnam War cost $843.63 billion, War in Afghanistan cost $910.47 billion, Iraq War cost $1.01 trillion, and now the War between Russia and Ukraine $115 billion cost to date. Despite the cost in lives and money, America has not clearly won any war since WW II.
  10. Taxpayer Funded Pornography, including Drag Queen Performances, to Under-aged Children. American taxpayers went from the 1981 Congressionally passed Adolescent Family Life Act (AFLA), to the 1996 Title V of the Welfare Reform Act, or the Temporary Assistance for Needy Families (TANF), set up a new system of grants for states providing abstinence-only-until-marriage education that used a specific eight-point criteria, known as the “A-H definition.”, to the 2000  Congressionally created a third abstinence-only education program (Title XI, §1110 of the Social Security Act), funded through the maternal and child health block grant’s Special Projects of Regional and National Significance Programs (SPRANS), that bypassed the need for state approval, to 2007 when nearly half of all states had decided against applying for state-based abstinence-only education due to both its restrictions and the requirement that states contribute matching funds.  These states include Alaska, Arizona, California, Colorado, Connecticut, Delaware, District of Columbia, Idaho, Iowa, Kansas, Maine, Massachusetts, Minnesota, Montana, New Jersey, New Mexico, New York, Ohio, Rhode Island, Vermont, Virginia, Wisconsin, and Wyoming. In 2009  President Barack Obama’s 2010 budget eliminated most federal funding for abstinence-only sex-education programs, replacing it with funding for  increase contraceptive use.  Obama‘s programs permitted discussion of birth control. Today public schools via federal and state funds and donations from non-profits are promoting the grooming of under-aged children for sex, placing pornographic books in public school libraries, the Community Foundation of Sarasota County fund ‘QUEERCON’ at the School of Arts and Sciences a Florida school and libraries and schools hosting drag queen reading hours. Click here to read more articles about Drag Queens and the grooming of underaged children.
  11. Taxpayer Funded Chemical and Surgical Castration of Men, Women and Children. In an October 7, 2022 Federal Times article titled Federal health plans to expand gender-affirming care coverage for 2023 reported, “…A quarter of Fortune 500 companies offer transition-related care to employees, including popular providers like Blue Cross Blue Shield and Aetna. This year, coverage will again include gender-affirming care, defined by the Kaiser Family Foundation as ‘social, psychological, behavioral or medical (including hormonal treatment or surgery) interventions designed to support and affirm an individual’s gender identity’. This move traces back to President Joe Biden’s 2021 executive order on diversity, inclusion, and accessibility in the federal workforce, which directs the Office of Personnel Management to ‘promote equitable healthcare coverage and services for enrolled LGBTQ+ employees’ and covered family members through the Federal Employee Health Benefits program…The average government contribution will increase by 6.6%, while the enrollee’s share will increase an average of 8.7%. That means for a biweekly pay period, an employee on a self-only plan will pay about $8.11 more. Those in a family plan can expect an average increase of $20.87.”
  12. LGBTQE+ Grooming of Children Funded by Taxpayers. On May 3, 2022 wrote, “Early exposures to pornographic images and verbiage are amongst the very best ways to facilitate lifelong sexual, emotional, educational, social, and mental health problems.  Here’s how pornographically-sexualized children can become dysfunctional, suicidal, and homicidal: 1. Bisexual violence is greatly promoted via pornography in which the human body is objectified as a source of entertainment for adult pleasure; 2. Children exposed to pornography are likely to flounder all of their lives and never fully recover from their emotional problems emanating from pornography abuse; 3. Children and teens preoccupied with pornographic images in their minds do not focus or concentrate on their studies; 4. Socially, children abused with pornography are likely to function at the extremes of anti-social behaviors – loners or youths constantly needing others around them. The loners can become homicidal or fiercely entombed in themselves; 5. In terms of mental health problems, children sexualized via pornography are at least as sexually-abused as children who are molested. Violence inherent in pornography becomes normalized in the course of human development, and sexualized children can present without conscience or compassion.” Newman concluded that, “In terms of mental health problems, children sexualized via pornography are at least as sexually-abused as children who are molested. Violence inherent in pornography becomes normalized in the course of human development, and sexualized children can present without conscience or compassion.” Our public schools, colleges and universities are promoting the LGBTQE+ agenda under the current administrations Diversity, Inclusion and Equity policies.
  13. Taxpayer Funding of Bloated Government from the School House to the White House. The more enriched and powerful the governments at every level become the more dangerous they are to the “three Fs” — Faith, Family and Freedom.

The Bottom Line

American greatness was built upon the foundation of individual merit. That is why the U.S. Constitution begins with these words,

We the People of the United States, in Order to form a more perfect Union, establish Justice, insure domestic Tranquility, provide for the common defence, promote the general Welfare, and secure the Blessings of Liberty to ourselves and our Posterity, do ordain and establish this Constitution for the United States of America.

America was built upon the ideal of “equal opportunity under the law.”

Governments at every level, on the other hand, have become enamored with the “myth” of “equality of outcomes.”

Equality of outcomes, like the failed Great Society, requires the redistribution of both wealth and opportunity.

Sadly, since the passage of the 16th Amendment, the government, not the market of ideas has become the sole arbiter of who wins and who loses.

This is why it is important for we the people to elect those who will defend our faith, families and freedoms.

Big government, using taxpayers money has destroyed our union, promotes injustice, funds domestic violence against its citizens (e.g. J6), and has destroyed our prosperity.

Today “the swamp” goes from the school house to the White House.

At each and every level they’re finding new ways to fund failure, which always promotes inequality.

America must return to the time when we promoted and rewarded success and entrepreneurship.

©Dr. Rich Swier. All rights reserved.

Silicon Valley Bank Parent Company Files For Bankruptcy thumbnail

Silicon Valley Bank Parent Company Files For Bankruptcy

By The Daily Caller

SVB Financial Group, the parent company for California tech lender Silicon Valley Bank (SVB), filed for Chapter 11 bankruptcy protection in New York Friday, the biggest filing of its kind since Washington Mutual Inc. in 2008.

SVB, which was SVB Financial Group’s main business, was taken over by federal regulators after it collapsed due to a bank run last week, with the Federal Reserve intervening to insure depositors. The bank announced it was filing for bankruptcy Friday in a bid to preserve the value of its assets.

“The Chapter 11 process will allow SVB Financial Group to preserve value as it evaluates strategic alternatives for its prized businesses and assets, especially SVB Capital and SVB Securities,” William Kosturos, Chief Restructuring Officer for SVB Financial Group, said in a statement. “SVB Capital and SVB Securities continue to operate and serve clients, led by their longstanding and independent leadership teams.”

SVB is under the jurisdiction of the Federal Deposit Insurance Corporation and not included in the Chapter 11 filing, according to The Washington Post. Bankruptcy offers a court-supervised reorganization to assist SVB Financial Group to find buyers for its assets besides SVB because it is under federal control, according to Reuters.

AUTHOR

JASON COHEN

Contributor.

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EDITORS NOTE: This Daily Caller column is republished with permission. ©All rights reserved.


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Why SVB and Signature Bank Failed so Fast – and Why the U.S. Banking Crisis Isn’t Over Yet thumbnail

Why SVB and Signature Bank Failed so Fast – and Why the U.S. Banking Crisis Isn’t Over Yet

By MercatorNet – Navigating Modern Complexities

With over $1 trillion of bank deposits currently uninsured, the banking crisis is far from over.


Silicon Valley Bank and Signature Bank failed with enormous speed – so quickly that they could be textbook cases of classic bank runs, in which too many depositors withdraw their funds from a bank at the same time. The failures at SVB and Signature were two of the three biggest in U.S. banking history, following the collapse of Washington Mutual in 2008.

How could this happen when the banking industry has been sitting on record levels of excess reserves – or the amount of cash held beyond what regulators require?

While the most common type of risk faced by a commercial bank is a jump in loan defaults – known as credit risk – that’s not what is happening here. As an economist who has expertise in banking, I believe it boils down to two other big risks every lender faces: interest rate risk and liquidity risk.

Interest rate risk

A bank faces interest rate risk when the rates increase rapidly within a shorter period.

That’s exactly what has happened in the U.S. since March 2022. The Federal Reserve has been aggressively raising rates – 4.5 percentage points so far – in a bid to tame soaring inflation. As a result, the yield on debt has jumped at a commensurate rate.

The yield on one-year U.S. government Treasury notes hit a 17-year high of 5.25% in March 2023, up from less than 0.5% at the beginning of 2022. Yields on 30-year Treasurys have climbed almost 2 percentage points.

As yields on a security go up, its price goes down. And so such a rapid rise in rates in so short a time caused the market value of previously issued debt – whether corporate bonds or government Treasury bills – to plunge, especially for longer-dated debt.

For example, a 2 percentage point gain in a 30-year bond’s yield can cause its market value to plunge by around 32%.

SVB, as Silicon Valley Bank is known, had a massive share of its assets – 55% – invested in fixed-income securities, such as U.S. government bonds.

Of course, interest rate risk leading to a drop in market value of a security is not a huge problem as long as the owner can hold onto it until maturity, at which point it can collect its original face value without realizing any loss. The unrealized loss stays hidden on the bank’s balance sheet and disappears over time.

But if the owner has to sell the security before its maturity at a time when the market value is lower than face value, the unrealized loss becomes an actual loss.

That’s exactly what SVB had to do earlier this year as its customers, dealing with their own cash shortfalls, began withdrawing their deposits – while even higher interest rates were expected.

This bring us to liquidity risk.

Liquidity risk

Liquidity risk is the risk that a bank won’t be able to meet its obligations when they come due without incurring losses.

For example, if you spend US$150,000 of your savings to buy a house and down the road you need some or all of that money to deal with another emergency, you’re experiencing a consequence of liquidity risk. A large chunk of your money is now tied up in the house, which is not easily exchangeable for cash.

Customers of SVB were withdrawing their deposits beyond what it could pay using its cash reserves, and so to help meet its obligations the bank decided to sell $21 billion of its securities portfolio at a loss of $1.8 billion. The drain on equity capital led the lender to try to raise over $2 billion in new capital.

The call to raise equity sent shockwaves to SVB’s customers, who were losing confidence in the bank and rushed to withdraw cash. A bank run like this can cause even a healthy bank to go bankrupt in a matter days, especially now in the digital age.

In part this is because many of SVB’s customers had deposits well above the $250,000 insured by the Federal Deposit Insurance Corp. – and so they knew their money might not be safe if the bank were to fail. Roughly 88% of deposits at SVB were uninsured.

Signature faced a similar problem, as SVB’s collapse prompted many of its customers to withdraw their deposits out of a similar concern over liquidity risk. About 90% of its deposits were uninsured.

Systemic risk?

All banks face interest rate risk today on some of their holdings because of the Fed’s rate-hiking campaign.

This has resulted in $620 billion in unrealized losses on bank balance sheets as of December 2022.

But most banks are unlikely to have significant liquidity risk.

While SVB and Signature were complying with regulatory requirements, the composition of their assets was not in line with industry averages.

Signature had just over 5% of its assets in cash and SVB had 7%, compared with the industry average of 13%. In addition, SVB’s 55% of assets in fixed-income securities compares with the industry average of 24%.

The U.S. government’s decision to backstop all deposits of SVB and Signature regardless of their size should make it less likely that banks with less cash and more securities on their books will face a liquidity shortfall because of massive withdrawals driven by sudden panic.

However, with over $1 trillion of bank deposits currently uninsured, I believe that the banking crisis is far from over.

This article is republished from The Conversation under a Creative Commons license. Read the original article.

Woke Universities Sacrificing Science on the Altar of Ideology and Profit thumbnail

Woke Universities Sacrificing Science on the Altar of Ideology and Profit

By MercatorNet – Navigating Modern Complexities

Three case studies from Canada and Australia about suppression of heterodox opinions in universities.


Two thousand five hundred years ago the Greek playwright Aeschylus is reputed to have said “the first victim of war is truth.” Recent events in the academic world have demonstrated that truth is also a casualty when ideology and commercial interests are at stake.

The most recent case occurred last month at Laval University in Canada, when professor and RNA expert Patrick Provost was suspended without pay for anti-mRNA vaccine comments. Patrick Provost has run an RNA lab for 20 years and has published nearly 100 peer-reviewed studies. In 2003, Provost’s work on the role of microRNA in gene expression was named one of the 10 discoveries of the year by the Quebec Science Magazine.

Based on the government’s own hospitalization and mortality statistics for children, which are both very low, Provost said he believed the risks of Covid-19 vaccination in children could outweigh the benefits because of the potential side-effects from mRNA vaccines, which have only gone through two of the usual four stages of testing required before vaccines are approved for general use.

“I was just doing what I was hired to do,” he said in an interview. “I had some concerns about something, I searched the literature and I prepared a talk and I delivered it to the public. Being censored for doing what I’ve been trained to do — and hired to do — well, it’s hard to believe.”

“As soon as you raise some concerns about vaccines, or side-effects, or complications related to vaccines, then it’s worse than the N-word,” he continued. “You’re condemned by the media, by the government and you’re chased and put down …. We should be able to discuss any ideas — any opinions — and because I expressed opinions that went against the government narrative, I was suspended.”

Regarding the University’s reaction, one might well wonder about the fact that the top 20 pharmaceutical companies spent C$139 billion on Research & Development in 2022, a portion of which went to university researchers. Faculties of medicine are particularly favoured beneficiaries of such funding. And Patrick Provost is a professor at the Faculty of Medicine.

In an entirely different field, geophysicist Peter Ridd was sacked in 2018 by James Cook University, in Australia, for criticizing the work of a colleague studying the Great Barrier Reef. In an email to a journalist, he said the Great Barrier Reef Marine Park Authority “is grossly misusing some scientific ‘data’ to make the case that the Great Barrier Reef is greatly damaged.” Ridd maintained that scientific organisations were “quite happy to spin a story for their own purposes, in this case to demonstrate that there is massive damage to the Great Barrier Reef.”

In a report published last year based, like Provost’s talk, on publicly available data, from the Australian Institute of Marine Science, aka the AIMS, Ridd notes that “the average coral cover as of 2022 is (…) the highest level on record. Figure 2 makes it clear that AIMS has effectively hidden the very good news about the reef between 2016 and 2022 by not publishing the Great Barrier Reef average data since 2017.”

Since 2014, the Australian government has committed A$4 billion to saving the Reef. The Australian Research Council Centre of Excellence for Coral Reef Studies, based at James Cook University, has been a major recipient of this funding. It should be no surprise that Ridd’s colleagues did not take kindly to someone undermining the claims on which their research, and the government funding that subsidizes it, is based.

Back in Canada, Frances Widdowson, a professor of economics, policy, and justice at Mount Royal University in Alberta was fired last year after colleagues and activists called for her termination because she dared to challenge groupthink on indigenous issues. Widdowson had made the self-evident claim that residential schools provided access to education that otherwise might not have been available, which was not an endorsement of the residential school system, but a mere statement of fact. A large percentage of Indian parents willingly opted for residential schools as they were the only way for their children to get an education. Despite the factuality of the claim, she was vilified and called a “denialist.”

Widdowson observes that no one dare question indigenous leaders in Canada these days, which makes it difficult to check their claims about buried remains of children. Widdowson has remarked that while lurid talk of buried indigenous children has circulated for more than 25 years and is “now firmly ensconced within the Canadian consciousness,” there is still no hard evidence to support it. Not a single body has been found at the Kamloops Indian Residential School where 215 bodies were allegedly detected by ground-penetrating radar.

Widdowson’s words in her last hearing at the disciplinary committee just before being fired are worth quoting as a moral to these stories:

“My final thought is that I don’t think it’s understood, not just at Mount Royal but in universities generally, that there is a fundamental conflict between academic universities, academic values and these ideological types of intrusions which are put forward under a number of different names, whether it be diversity, inclusion or equity policies. (…). I’m being pushed out because I can’t accept things that I believe to be untrue. I can’t say that I think something is true when I don’t think it’s true and I think it would be a violation of my academic position to do that. And unfortunately there are people who are either opportunistic or just afraid who won’t stand behind the academic foundation of the university.”

The university is now a house without foundations. We all know what eventually happens to such houses.

Air Force Goes on Diversity, Inclusion, Equity [DIE] Hiring Spree: Top Job Pays up to $183,500 thumbnail

Air Force Goes on Diversity, Inclusion, Equity [DIE] Hiring Spree: Top Job Pays up to $183,500

By The Geller Report

The left ha destroyed our schools, universities, corporations, airlines, etc with these racist policies. Now they are destroying our last line of defense.

America will lose it’s competition with China if this madness continues beyond 2024.

Air Force goes on diversity, equity, inclusion hiring spree: Top job pays up to $183,500

The Air Force is looking to build a ‘world-class’ DEI program

By Fox News, March 15, 2023

The U.S. Air Force this month launched an effort to hire a handful of senior-level diversity, equity and inclusion (DEI) managers and is hoping to place these officials in posts across the country, from Washington, D.C., to Alaska.

Each post pays at least $82,000 per year, and the top position at the Pentagon could pay more than $180,000 per year.

Read more.

AUTHOR

Geller Report Staff

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EDITORS NOTE: This Geller Report is republished with permission. ©All rights reserved.

Why We Should Let Bad Banks Fail thumbnail

Why We Should Let Bad Banks Fail

By Foundation for Economic Education (FEE)

Bad banks need consequences. Let them fail.


By now, you’ve likely heard about regulators closing down Silicon Valley Bank (SVB) and now Signature Bank as well.

While I’m not going to go into all the details, the basic story is described well in this article on Seeking Alpha. Essentially, SVB received a large influx of deposits as the Federal Reserve flooded the market with dollars during COVID.

From there, SVB went out and bought government bonds to store that money. But then, the Federal Reserve started enacting policies which moved interest rates up. The problem? As interest rates rose, the bonds SVB purchased in the past declined in value.

Bond prices and the interest rate have an inverse relationship. If interest rates increase, you can earn a higher return on financial assets purchased today. When that happens, bonds issued at a previously lower rate must sell at a discount to compete.

So when rates rose, SVB’s assets (composed largely of old lower-rate government bonds) plummeted in value.

The key question now is, what are we going to do about it?

I have a modest proposal—let them fail.

Allowing banks to fail may sound extreme, but it’s really the most reasonable solution. It’s true there will be some costs if the banks fail. Any time a business fails, other investors tied financially to the company lose.

But here’s the rub—people who invest in bad businesses should lose. SVB’s failure is a reflection of the fact that it was a wealth shredder. It took depositors’ perfectly good cash, and converted it into now severely devalued bonds.

Banks that destroy wealth shouldn’t be allowed to continue to do so indefinitely. And when depositors make a “run” on bad banks, they’re performing a public service.

Kicker: a run on an insolvent bank has the salutary effect of pulling the plug on a wealth-destroying machine.

— Lawrence H. White (@lawrencehwhite1) March 11, 2023

At this point, a bank bailout not only would mean the taxpayers will be left holding the bag for bankers’ mistakes—it would mean screwing up incentives in the banking industry even more.

To see the incentive problem, consider an example. Imagine a world where, no matter the circumstances, the government will pay to fix cars after every accident. What do you think this would do to the number of car accidents per year? It would sky-rocket.

If you never need fear paying a price for crashing your car, why drive carefully? There is still some incentive to avoid serious accidents due to injury, but the point is this system lowers the cost of risky behavior, and therefore lowers an individual’s incentive to be careful. Economists call this a moral hazard problem.

And this is the primary issue with bank bailouts. If the government sets a precedent that all bank failures will be ameliorated by using taxpayer money, banks will engage in risky behavior which they otherwise would not. Why be cautious with depositors’ money if you get a bailout no matter what?

You cannot have a healthy free market when you privatize the profits and socialize the losses. The taxpayer’s wallet, if treated like common property, will be subject to the tragedy of the commons.

Banking, where the rules are made up and the losses don’t matter

— Brian Albrecht (@BrianCAlbrecht) March 12, 2023

And I don’t just mean that I’m against a formal bailout to save investors. I’m opposed to taxpayer dollars being reallocated to save the bottom line of anyone involved. Some may worry about small depositors, but the FDIC already insures up to $250,000 (regardless of what I or anyone else thinks about that policy), meaning every depositor who has less than that in their account is getting their money back already.

And for the larger depositors? Business deals have risks. We cannot pay people to ignore that fact. If you want to house more than a quarter of a million dollars in any one institution you should be very careful in picking.

If some individual wants to come along and buy SVB or these other failing banks and try to resuscitate them, I invite them to try. Maybe there is a profit opportunity there. But if the choice is between a bailout and letting them fail, the answer is clear to me.

If they can have the profits, they should have the losses as well.

AUTHOR

Peter Jacobsen

Peter Jacobsen teaches economics and holds the position of Gwartney Professor of Economics. He received his graduate education at George Mason University.

EDITORS NOTE: This FEE column is republished with permission. ©All rights reserved.

BIDEN BANK CRISIS: Dow Plunges 700 Points, ‘First Domino To Drop’ thumbnail

BIDEN BANK CRISIS: Dow Plunges 700 Points, ‘First Domino To Drop’

By The Geller Report

Stock indexes are on pace for one of their worst days this year.
Woke and broke. And still Biden and the Democrats are pushing, legislating and imposing these fatal polices.

This is the poison fruit of the diversity, equity and inclusion hiring practices that elevates whining whiners and demonizes talent, intelligence and skill.

Life was golden under Trump.

Dow Plunges 700 Points As BlackRock Chief Warns SVB Collapse Merely ‘First Domino To Drop’

By: Derek Saul, Forbes, March 15, 2023: Forbes Staff

U.S. stocks plunged in Wednesday trading as concerns about the health of the global banking industry continued to weigh on the market, with one high-profile Wall Street bigwig cautioning the contagion of Silicon Valley Bank’s failure could spread further than previously anticipated.

Key Facts

The Dow Jones Industrial Average fell 717 points, or 2.2%, by 1 p.m. ET; the S&P 500 and tech-heavy Nasdaq similarly slid 2% and 1.4%, respectively.

The domestic losses come amid broad declines in stocks abroad, with the Zurich-based bank Credit Suisse’s 24% slide to a record low in share prices amid capital concerns headlining the losses.

Also stoking concerns about the fallout of Silicon Valley Bank, Signature Bank and Silvergate Capital’s recent closures was a bleak letter from Blackrock CEO Larry Fink warning the failures could simply be the first “domino[es] to drop” before a potential “cascade throughout the U.S. regional banking sector with more seizures and shutdowns coming.”

Regional bank stocks captained Wednesday’s sinking ship, with share prices of PacWest sinking 20% and First Republic dropping 23%.

Keep reading.

AUTHOR

Pamela Geller

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