The articles, the opinions, the stories, the poems and the cartoons Ovi magazine covers for Saturday March 18th, 2023
Disastrous Harvest: Silicon Valley Bank and the Anti-Regulation Bank Lobby by Dr. Binoy Kampmark
Before the financial collapse come the aggressive anti-regulation lobbyists. These are often of the same ilk: loathing anything resembling oversight, restriction, reporting and monitoring. They are incarnations of the frontier, symbolically toting guns and slaying the natives, seeking wealth beyond paper jottings, compliance and bureaucratic tedium.
The collapse of Silicon Valley Bank (SVB), for a period of time the preferred bank for start-ups, is the bitter fruit of that harvest. Three days prior to the second-largest failure of a US financial institution since the implosion of Washington Mutual (Wamu) in 2008, lobbyists for the banking sector had reason to gloat. They had the ears of a number of GOP lawmakers and were pressing the case that Federal Reserve Chair Jerome Powell had little reason to sharpen regulations in the industry.
As a matter of fact, the converse case was put: the financial environment was proving too stringent, and needed easing up. This effort built on gains made during the Trump administration, which saw the passing of the Economic Growth, Regulatory Relief, and Consumer Protection Act. Then House majority leader Kevin McCarthy was particularly keen on winding back elements of the Dodd-Frank banking measures introduced in the wake of the 2008 financial crisis. In 2018, he got much of what he wished for.
Continue reading HERE!
Translations from the Cinema – Ballad of a Soldier #poem by Dr. Lawrence Nannery
“The boy is young, but with his country invaded, he is first of all a soldier.
He performs such an unexpected heroism that he is given leave to visit his home.
He has ten days.
There are chaotic conditions, there are many adventures, many diversions,
Many frustrations, but who cares about all that?”
Continue reading HERE!
Mika Toxica #50 #cartoon by Thanos Kalamidas
For more Mika Toxica HERE!
For more Ovi Cartoons, HERE!
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