tyb
Mr. Cooper Group, Inc. sold by Kohlberg, Kravis, Roberts & Co.: $368.18m-Aug 2
These shares were purchased by Mr. Cooper Group directly from KKR&Co. under a stock repurchase agreement announced on July 29th
Mr. Cooper Group Inc., formerly WMIH Corp, provides servicing, origination and transaction-based services related principally to single-family residences throughout the United States. It offers mortgage servicing and a loan originations platform. The Company operates through its subsidiary, Nationstar Mortgage Holdings Inc. it operates through its brands, such as Mr. Cooper, Xome and Champion Mortgage. The Company's Mr. Cooper brand is a home loan servicers that is focused on providing a variety of servicing and lending products, services and technologies. Xome provides technology and data enhanced solutions to homebuyers, home sellers, real estate agents and mortgage companies. Champion Mortgage is a reverse mortgage servicer. Number of employees : 9 800 people.
https://www.marketscreener.com/quote/stock/MR-COOPER-GROUP-INC-46600303/company/
KKR & Co. Inc is a global investment company. offers alternative asset management and capital markets and insurance solutions. The Company manages investments funds that invest in private equity, credit and real assets and hedge funds. It offers a range of investment management services to its fund investors, and provides capital markets services to its firm, its portfolio companies and third parties. The Company conducts its business with offices across the world, providing it with a global platform for sourcing transactions, raising capital and carrying out capital markets activities. The Company operates through four business lines: Private Markets, Public Markets, Capital Markets and Principal Activities. The Company also offers annuities for individuals through a network of banks, broker-dealers, and insurance agencies. Number of employees : 1 583 people.
https://www.marketscreener.com/quote/stock/KKR-CO-INC-44486777/company/
https://finviz.com/insidertrading.ashx?oc=1472698&tc=7&b=2
Lockheed Martin CFO Abruptly Retires For ‘Personal Reasons’
Lockheed Martin Corp. Chief Financial Officer Ken Possenriede is retiring immediately “due to personal reasons” and will be replaced on an interim basis by a longtime company veteran.
The surprise exit comes two days before Lockheed, the world’s largest defense contractor, is slated to host a conference for investors. John Mollard, the corporate treasurer, will step in as acting CFO for Possenriede, who had held the top financial role since 2019 at the Bethesda, Maryland-based company. Possenriede’s abrupt departure isn’t related to any “financial or accounting issue or any disagreement with the company or any matter relating to the company’s operations, policies or practices,” Lockheed said Tuesday in a filing with the Securities and Exchange Commission. A company spokesman declined to elaborate. Possenriede sent a two-sentence letter to Chief Executive Officer Jim Taiclet announcing his retirement. The departing CFO was 60 as of Lockheed’s last annual report to securities regulators. Mollard, 64, will serve as CFO until the company finds a permanent replacement. He took over the treasurer role five years ago and before that served as a vice president for corporate financial planning and analysis for 13 years. “John is uniquely suited to lead our finance organization while our search process is under way,” Taiclet said in a statement.
Lockheed earlier said it would take a $1.3 billion after-tax charge in the third quarter and lower its full-year earnings outlook by $4.75 a share after transferring $4.9 billion of its pension obligations to Athene Holding Ltd.
https://www.bnnbloomberg.ca/lockheed-martin-cfo-abruptly-retires-for-personal-reasons-1.1636229
That is ALWAYS a good sign when your CFO basically walks out the door with no reason given in front of a major investors conference....file this under dindu
U.S. Banking System Has a $168 Trillion Nightmare Looming. It Was Ignored in Written Testimony for Today’s Senate Banking Hearing
Risky derivative bets made by the mega banks on Wall Street, offloaded onto inadequately capitalized counterparties, were at the core of the collapse of the U.S. financial system in 2008. That collapse left millions of Americans without jobs, which led to millions of families and traumatized children losing their homes to foreclosure. The bank bosses got their million-dollar bonuses from the taxpayer bailouts and the Federal Reserve secretly pumped in $29 trillion over 31 months to shore up the failing trading houses on Wall Street and their foreign derivative counterparties.
Wall Street banks have rebuilt that derivatives doomsday machine today – a $168 trillion monster concentrated at four mega banks on Wall Street. But as we read through dozens of pages of written testimony submitted by witnesses for today’s Senate Banking hearing, the word “derivative” did not appear once. The list of hearing witnesses scheduled to testify today notably does not include Gary Gensler, the Chair of the Securities and Exchange Commission (SEC), which has co-authority to supervise the derivatives market. It does not include anyone from the Commodity Futures Trading Commission (CFTC), which has the other co-authority to supervise the derivatives market. The witness list also does not include Randal Quarles, the Vice Chairman at the Federal Reserve, who is mandated to supervise these mega banks on Wall Street and prevent them from blowing themselves up again and requiring another secret Fed bailout.
The witnesses that were called to testify at today’s hearing are: Todd Harper, Chair of the National Credit Union Administration; Jelena McWilliams, Chair of the Federal Deposit Insurance Corporation (FDIC); and Michael Hsu, Acting Comptroller of the Office of the Comptroller of the Currency.
SEC Chair Gensler gave a speech on July 21 in which he explained that 11 years after the Dodd-Frank financial reform legislation was passed in 2010 during the Obama administration, the final rules to regulate the derivatives (swaps) markets have yet to be fully implemented. He also explained how oversight of derivatives has been bifurcated, stating: “When Congress decided to bring reforms to the overall swaps market, they assigned authority over security-based swaps to the SEC. They assigned the bulk of the swaps market —including interest-rate, energy, agricultural, and other commodity-based swaps — to our sister agency, the Commodity Futures Trading Commission….”
This is what Gensler does not explain in his speech. The Dodd-Frank legislation did not envision derivatives remaining at the federally-insured, deposit-taking commercial banks of America. Dodd-Frank contained what was called the “push out rule” where the derivatives would move out of the federally-insured bank and into another unit of the bank holding company that could be wound down without a taxpayer bailout in case of insolvency. But Citigroup, the recipient of the largest taxpayer and Fed bailout in the 2008 crisis, used its lobbyists to force the repeal of that part of Dodd-Frank in December of 2014.
As a result, if you flip open the most recent quarterly trading and derivatives report from the Office of the Comptroller of the Currency, you will read the following state of affairs as of March 31, 2021:“The four banks with the most derivative activity hold 89.0 percent of all bank derivatives…”
Those four banks are not the investment banking units of the Wall Street mega banks. They are the federally-insured, taxpayer-backstopped, commercial banking units of these Wall Street behemoths. Per the chart above, JPMorgan Chase Bank, Goldman Sachs Bank USA, Citibank N.A. (the federally-insured unit of Citigroup), and Bank of America are sitting on a total notional (face amount) of $168 trillion in derivatives or 89 percent of the $189 trillion at all banks.
This is concentrated, systemic risk on steroids and deserves an immediate, separate hearing by the Senate Banking Committee.
https://wallstreetonparade.com/2021/08/u-s-banking-system-has-a-168-trillion-nightmare-looming-it-was-ignored-in-written-testimony-for-todays-senate-banking-hearing/
.pdf enclosed
https://www.occ.treas.gov/publications-and-resources/publications/quarterly-report-on-bank-trading-and-derivatives-activities/files/pub-derivatives-quarterly-qtr1-2021.pdf
Here is the increase in derivative exposure for the top 4 from Q4 2020 to Q1 2021
JP Morgan: $46.89T to $52.67T +$5.78T
Goldman Sachs: $42.24T to $50.54T +8.3T
Shitibank: $40.83T to $46.47T +5.64T
Bank of ~~America~~ Italy: $14.83T to $18.52T +3.69
Total of$23.41Tincrease of Derivative Exposure from Q4 2020 to Q1 2021.
dat the biggest increase QoQ I've seen.
Was actually going down little by little last few years-had the odd increase here and there but generally was heading down-not a huge decrease, until dis.
Just helps it blow up faster
kek
Still think that is possibruh
Blow it up to the upside so it collapses on the weight of itself.
If done this way then (((they))) don't get the chance to buy it back cheap and start it all over again like 2008-09 cause if they do dat again it can go on for a much longer time that many (basically all of us plebs) don't have.
kek
>>79112 pb
RCH603T and 604T heading back to MCB Quantico after load out(s) at Wright-Patterson AFB Dayton
603 came from McGuire AFB and 604 was from NAS Norfolk earlier today.
Both had ground stops at MCB Quantico and then wn to Wright-Patterson AFB
COBRA49 USAF Combat Sent es from Lincoln Muni, NE
COBRA49 USAF Combat Sent heading off-shore after passing over a rainy Clowntown, VA
Only two of these AC's and other is still at Kadena AB Okinawa afaik
The RC-135U Combat Sent provides strategic electronic reconnaissance information to the president, secretary of defense, Department of Defense leaders, and theater commanders. Locating and identifying foreign military land, naval and airborne radar signals, the Combat Sent collects and minutely examines each system, providing strategic analysis for warfighters. Collected data is also stored for further analysis by the joint warfighting and intelligence communities. The Combat Sent deploys worldwide and is employed in peacetime and contingency operations. All RC-135U aircraft are equipped with an aerial refueling system, giving it an unlimited flying range. Communication equipment includes high frequency, very high frequency, and ultra high frequency radios. The navigation equipment incorporates ground navigation radar, a solid state Doppler system, and an inertial navigation system that merges celestial observations and Global Positioning System data. Although the flight crew stations are similarly configured, the reconnaissance equipment is slightly unique within each airframe.
The aircraft are identified by their distinctive antennae arrays on the "chin" and wing tips, large cheek fairings, and extended tail. Crew composition includes two pilots, one navigator, two airborne systems engineers, and a minimum of 10 electronic warfare officers, or "Ravens," and six or more electronic, technical, and area specialists.
https://www.af.mil/About-Us/Fact-Sheets/Display/article/104495/rc-135u-combat-sent/
REDEYE8 USAF E-8C Joint Stars about to hook up wif LAGR480 USAF KC-135 tanker for a topping of the tanks over Poland
LAGR480 from RAF Mildenhall and REDEYE8 from Ramstein AFB
REDEYE8 prolly heading up towards eastern Estonia, Latvia