John Simonson
@JFSimonson
CRO, FS consultant, former regulator, CFO and investment banker. Brooklynite. Running, sailing, Yankees. And #1 fan of @SimonsonHelen. Views my own.
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Friday, join @Simonsonhelen to discuss THE HAZELBOURNE LADIES MOTORCYCLE AND FLYING CLUB - a comedy about a generation of young women facing the changes brought on by war & dreaming of the possibilities of their future - w/ @Susan_Coll - 7PM @ Conn Ave - bit.ly/4agiDH0
My new novel, out May 2024, just went live for preorders through your local bookshop and all internet sources. Thanks @randomhouse for the great cover!
Of course I hate it, but my other immediate reactions are 1) was this done so @Yankees can eat Josh Donaldson’s contract? and 2) Isn’t there some billionaire fan that would pay even more to have their name on a Yankee uniform? nypost.com/2023/07/12/yan…
nypost.com
Yankees get over $20 million a year for Starr Insurance patch on...
Even the famed pinstriped uniforms are getting a corporate sponsorship patch.
Sad day for journalism. @nytimes says they’ll now focus on intersection of sports w/money, power, culture, politics. But all that has always been tangential to the players, games and spectacle. Award winning writers made that come alive. nytimes.com/2023/07/10/bus…
Excellent thread by @lizrhoffman Much of this could have been caught earlier if regs didn’t allow for HTM fictional accounting.
1/ Putting the rescue efforts in context, there are 3 basic problems here: a liquidity problem, a capital problem and an earnings problem.
If @bankpolicy #s are right (tho @Jeremy_Kress says no) it actually argues for stronger regs. Not ok if #SVB could pass but be so risky. Frankly, liquidity tests that ignore capital impact of selling HQLA or earnings impact of repo’ing $40 bil at neg spread are deeply flawed.
There is a developing narrative that SVB would have met all regulatory requirements, even if Congress and Fed had not substantially deregulated. I think this narrative is likely wrong. 🧵
Good read by @SenWarren - she warned us in 2018 and unfortunately, was not wrong. #SVB nytimes.com/2023/03/13/opi…
So #SVB was not systemic when @federalreserve eliminated LCR and stress testing requirements, but they are systemic when they fail?
Hedge funds offering to buy #SVB deposits at 60-80 cents while demanding all depositors be made whole…
Funny how many of the same folks who said a $200 billion bank doesn’t need enhanced prudential supervision are saying all SVB depositors need to be fully covered or there will be systemic contagion! Excellent analysis of SVB by @MRVAssociates
Where are the bank lobbyists & politicians who fought so hard for banks under $250 bn in assets to not be required calculate if they had enough high quality liquid assets to cover stressed cash outflows? @BankingGOP @SenateBanking @FSCDems @FinancialCmte @ABABankers (1)
FDIC following the book on SVB. Insured depositors protected. Uninsured will get some money near-term but have to wait and see if resolution (sale or otherwise) will result in a haircut. #SVB fdic.gov/news/press-rel…
The real question is why don’t large banks have to respond at all to competition? Something is very wrong when largest banks can make a 450 bp risk-free spread on cash held at the Fed. @federalreserve @FDICgov nytimes.com/2023/02/03/you…
nytimes.com
Many Banks Pay High Rates on Savings. So Why Aren’t You Moving Your Money? (Published 2023)
Some online banks offer yields of 3.3 percent or more, but savers may be reluctant to open one because they think it will be a hassle.
Huge respect for @SheilaBair2013 but she’s wrong on this. Regulation does validate - I feel much better about OCC regulated bank than random fintech. And most of crypto is offshore out of regulators reach. Only regulation that worked? NYS saying no FTX accounts for residents.
Regulated crypto please! Regulation doesn’t “validate” it. It says people can get hurt investing in this asset and need protection. Crypto should be regulated with existing law, says former FDIC head ft.com/content/b9f44f…
60 years ago today, in his speech at Rice University, JFK predicted that Rice would contribute significantly to the revitalized U.S. space effort. In 1963, Rice established the nation's first space science department. To date, 8 instruments developed by Rice are on the moon.
When an assault weapon is used in a mass shooting, it results in six times as many people shot than when other guns are used.
Crypto’s big growth has been due to “trusted third parties” (exchanges, custodians) when whole point of crypto is to eliminate the need for them. Not sure about banning #stablecoins but would’ve been bad if banks had big crypto write downs. Interesting read by @ProfHilaryAllen
Regulated crypto please! Regulation doesn’t “validate” it. It says people can get hurt investing in this asset and need protection. Crypto should be regulated with existing law, says former FDIC head ft.com/content/b9f44f…
One Wordle a day not enough for you? Need to get sucked in to wasting more of your day on guessing words? Try Solve Words, new on the App Store apps.apple.com/us/app/solve-w…
Like all #Yankees fans I love watching #aaronjudge and hoped he’d get a long contract to remain the face of @Yankees. But sorry, I can’t take this coy, non-vax BS. Hal needs to tell him get the shots and be a leader or kiss goodbye the big bucks. NYC demands more from our heroes.
Top 5 ROI math degree @RiceUniversity. Guess I made a pretty smart investment in the early 80s! #PiDay
In honor of #PiDay, here are the nation's best math (and math-related) degrees. freopp.org/we-calculated-…
United States Trends
- 1. Jamal Murray N/A
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