“how a country w/ a functional, if flawed, democratic machinery handed absolute power over to someone who could never claim a majority in an actual election & whom the entire conservative political class regarded as a chaotic clown w/a violent following.” newyorker.com/magazine/2024/…

Trump Media's audit firm barred from SEC practice over ‘massive fraud’ ow.ly/y5It105rCMZ

I'd pay good money to be on a 'least influential people in DC' list. washingtonian.com/2024/05/02/was…

Warren Buffett changed his stripes when he bought Apple. Now, the size of the stake worries some Berkshire Hathaway shareholders. wsj.com/finance/stocks…

'Several staffers fear the electromagnetic radiation from microwave ovens, complicating a volunteer potluck. (People were advised to bring crockpots.)'

wsj.com/politics/elect…

Scoop: TD Bank is being probed by US prosecutors for a controls failures that caused it to be used for the laundering of illicit fentanyl proceeds.

Criminals deposited bags of cash and bribed TD branch employees.

w Vipal Monga WSJ Justin Baer
wsj.com/finance/regula…

Er that should be Dylan Tokar

“.. after the company cut guidance for a third straight quarter and posted the first sales decline since late 2020.”

Bloomberg $SBUX

bloomberg.com/news/articles/…

Also said whatever they do will have comparability with overseas counterparts that have already adopted this framework. Seems like a win for big banks.

On Basel plan, Powell says the Fed has not yet made any decisions on substance or process. Signals they could still re-propose.

The Federal Reserve held interest rates steady at their highest level in two decades and acknowledged recent inflation setbacks, extending a wait-and-see posture that could last well into the year if the economy doesn’t weaken. wsj.com/economy/centra…

“This weekend, thousands of investing aficionados will descend on Omaha to hear Warren Buffett hold forth on business and life. If they are lucky, they might catch a passionate shareholder proposal.” wsj.com/finance/berksh…

For individuals saving for retirement, BlackRock says its funds help solve the complexity and expense of annuities by automatically investing in the contracts and offering access to institutional pricing. wsj.com/personal-finan…

Some FDIC news here…

TD Bank Sets Aside $450 Million for Possible U.S. Anti-Money Laundering Penalties wsj.com/finance/bankin…

Mom and Dad should pack a snack bag for their kids on the way to the protest

UnitedHealth Group is the biggest employer of doctors and the largest health insurer. Its holdings are vast. Know what else United owns? A bank. It’s called Optum Bank. And it's had problems. 🧵

UF’s spokesman is “Steve Orlando.”