tyb
>>89506 pb
SAM242 USAF G5 KAF AC of interdast inbound to JBA from it's Spangdahlem AFB overnight
GRIMM13 USAF B-52 Stratofortress heading back to Minot AFB, ND after getting a top off of da tanks from 58-0072 over the Atlantic earlier
Currently on the Maine/New Brunswick border heading west
Libor Judge Rejects Halting Use of Benchmark in Win for Banks
A U.S. judge signaled he won’t immediately terminate Libor, rejecting an effort by a group of borrowers who argued the benchmark is the product of a “price-fixing cartel.”The tentative ruling Thursday by U.S. District Judge James Donato in San Francisco is a win for some of the world’s biggest banks, including JPMorgan Chase & Co., Credit Suisse Group AG and Deutsche Bank AG.
The banks argued abruptly ending the London interbank offered rate would wreak havoc on financial markets and undermine years of work reforming the reference rate. The plaintiffs, which include 27 consumer borrowers and credit card users, argued Libor is an illegal price-fixing agreement. The lawsuit seeks to prohibit the benchmark, or set it at zero with borrowers repaying capital but not interest.Donato said he wasn’t convinced the consumers’ request for an injunction halting the use of Libor met the legal test of urgency.
“It’s been 35 years that Libor’s been on the books,” Donato said. “Isn’t that enough in itself to show there’s no irreparable harm?”
wut a fuggen tool
But the judge also said the litigation isn’t over. “I’m not saying you don’t have an underlying case,” Donato told lawyers for the consumers. “That’s a different day.”
Libor is derived from a daily survey of bankers who estimate how much they would charge each other to borrow-it is not and has never been empirical..they just make it up to suit the systems needs and keep implied borrowing costs low. It’s used to help determine the cost of borrowing around the world, from student loans and mortgages to interest-rate swaps and collateralized loan obligations, and continues to underpin hundreds of trillions of dollars of financial assets around the world.
In the wake of the 2008 financial crisis, regulators discovered that lenders had been manipulating the rates to their advantage, resulting in billions of dollars of fines. For over three years, policy makers around the globe have been developing new benchmarks to replace Libor.
The case is McCarthy v. Intercontinental Exchange, 20-cv-05832, U.S. District Court, Northern District of California (San Francisco).
https://www.bnnbloomberg.ca/libor-judge-rejects-halting-use-of-benchmark-in-win-for-banks-1.1650079
"judge" Donato appointed by....you guessed it Hussein in 2013
Wells Fargo to Pay $250 Million as OCC Warns of Ongoing Missteps
Wells Fargo & Co. will pay a $250 million fine after the Office of the Comptroller of the Currency said it had deficiencies tied to its home-lending loss mitigation program and was failing to adhere to a 2018 consent order that dealt with past missteps. “Wells Fargo has not met the requirements of the OCC’s 2018 action against the bank,” Michael Hsu, the regulator’s acting chief, said in a Thursday statement. “This is unacceptable.”
In addition to the penalty, Hsu said the OCC is putting limits on the bank’s future activities until it fixes problems tied to its mortgage servicing business. Scandals have plagued Wells Fargo since 2016, when regulators accused it of opening millions of bogus bank accounts without customers’ consent. Chief Executive Officer Charlie Scharf has called satisfying U.S. authorities demands his highest priority.
https://www.bnnbloomberg.ca/wells-fargo-to-pay-250-million-as-occ-warns-of-ongoing-missteps-1.1650156
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but the Postal Union not gonna do it....
dhey stopped delivery to individual houses in dis hood a few months ago
Now at collection boxes-prior to that it was a new mail carrier every few weeks.
Lost track of it since no home drops.
Can't keep them?
similar here wif workplace stuff
peeps trying to take advantage of a constantly changing sitch. and creating excuses to "work at home" but totally abusing it.
spouse stuck in da middle cause the corp office won't define it or take any stand on any of it-kinda hard to do that when it's 'this' one day and 'that' the next
Meanwhile every excuse in da book being used to "work at home"-and dhey don't.
SAM237 USAF C-40B on descent for JBA from Shannon, Ireland ground stop/refuel-departed Kuwait Int'l airport earlier today and arrived on 0906 and left prior to Sec. of State departing from JBA to Doha, Qatar
State Dept or NSO White House as they habs used this AC in the past.
SAM206 USAF G5 KAF AC of interdast (high-level 99th Airlift Squad) behind dhem and inbound from Peterson AFB ground stop.
not the scare event.
mad as hell for a week then someone planned a 'right-wing rally' in DC.
sigh...itssoretarded.png
French AF CTM1015 A330 departed Mexico City Int'l after arriving on 0907 from a Marseille Int'l depart
This is the French Ambassador to Mexico leaving-wut did you drop off?
This AC stopped at CFB Trenton (north shore of Lake Ontario) for a refuel after it's Marseille Int'l Airport depart which indicate a heavy AC.
It's pretty wide-open nao at 551kts and 41k ft heading ne over Virginia
Dis guy couldn't take a Falcon 900 or smaller AC 'cause he had something to drop-off.
Our Coast Guard fren out again
C101 US Coast Guard G5 departed Reagan National Airport en and over New Jersey
squawking 2172
California recall election: President Biden to visit Long Beach Monday for Newsom's final rally
One day before the gubernatorial recall election, President Joe Biden will visit Southern California in support of Gov. Gavin Newsom as he faces possible removal from office.
Newsom's campaign confirmed that he and the president will appear together at an event in Long Beach Monday, with Biden expected to encourage Californians to vote no on the recall and get their ballots returned before polls close on Sept. 14.
This comes after Newsom campaigned with Vice President Kamala Harris on Wednesday.
Prior to the rally, Biden also plans to survey the recent wildfire damage in Northern California
https://abc7.com/california-recall-election-president-biden-long-beach-gavin-newsom-ca/11010802/
yessss!!!!
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SoftBank to Borrow Almost $4 billion Against T-Mobile Stake
SoftBank Group Corp. will borrow about $4 billion through a pair of margin loans secured by the bulk of its stake in T-Mobile US Inc., according to a regulatory filing.
The Japanese company, which holds 106.3 million T-Mobile shares, announced earlier this week that it had agreed to swap about 45 million of those shares for a 4.5% stake in Deutsche Telekom AG. The deal expressly allows SoftBank to borrow against its T-Mobile stake as long as Deutsche Telekom gets to vote the shares pledged as collateral. A SoftBank affiliate called Project 6 LLC will take out a $2.6 billion margin loan secured in part by about 43 million T-Mobile shares and a second $1.25 billion bridge loan backed by another 45.4 million T-Mobile shares, according to a Schedule 13D filed with the U.S. Securities and Exchange Commission.
SoftBank will fully draw both loans on September 15, the company said in the filing. The margin loan matures in July 2024 and the bridge loan comes due in two months, on November 14. The lending group includes JPMorgan Chase Bank NA and Goldman Sachs Group Inc. The Deutsche Telekom deal has rekindled hopes among SoftBank shareholders that the company, founded by Masayoshi Son, will embark on another share buyback. Son divested some of SoftBank’s T-Mobile holdings last year through a $21 billion deal that helped pay for a record buyback of his company’s shares.
https://www.bnnbloomberg.ca/softbank-to-borrow-almost-4-billion-against-t-mobile-stake-1.1650241
that will werk fine until Tmobile shares drop causing another Archegos type selloff
SoftBank Group Keeps Up Borrowing Spree Before Bond Repayments
SoftBank Group Corp. sold the biggest yen note in the Japanese corporate bond market this year, continuing a global funding spree by the company as it faces hefty debt redemptions in the next six months.
Billionaire Masayoshi Son’s technology conglomerate priced on Friday a 450 billion yen ($4.1 billion) subordinated bond targeting individual investors at 2.4%, together with a 50 billion yen note for institutional investors, according to filings. The company has about 1.2 trillion yen of bond repayments due in its home market before the end of February, including planned early redemptions, according to data compiled by Bloomberg. SoftBank is having one of its busiest years ever in global issuance markets, and raised more than $7 billion in a debt offering across dollars and euros in June. The company last month reported a slump in net income to 761.5 billion yen in the three months ended June 3O after the value of investments in public holdings such as Coupang Inc. declined.
SoftBank is selling yen debt after a drop in funding costs spurred a rush among Japanese firms to sell bonds, with deals last month surging to the most for any August on record at 953.3 billion yen, according to Bloomberg-compiled data. Average yield premiums on Japanese corporate notes dropped to 27 basis points this month, their lowest since 2015, Nomura BPI data show.
https://www.bnnbloomberg.ca/softbank-group-keeps-up-borrowing-spree-before-bond-repayments-1.1650233
softbankbubble.png
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kek