San Francisco Federal Reserve Chief was working woke agenda - missed warning signs of bank failures

[1srelluc]

San Francisco Fed Chief Mary Daly makes $422k/year, and has been pushing her woke agenda - not banking.

Daly has no background in banking or managing risk. After dropping out of high school, she worked in a donut shop before eventually getting her GED and entering college, where she became enamored with a socialist professor.
She said she was inspired by Marxian economist Gene Wagner, who "has mentored me my whole life."

Several years later, after earning a PhD from Syracuse University, Daly landed a job as a labor inequality researcher at the San Francisco Fed, where she ingratiated herself with then-SF Fed President Janet Yellen, who helped her fail upward.

Daly (left) with her "wife".

Why woke ‘Frisco Fed chief missed Silicon Valley Bank’s warning signs

So how did GED Donut Girl pay for a degree and a PhD? Syracuse is not a cheap school.

I guess the commies infiltrate them young and groom them for years.

 

[two_iron]

This is why we need a divorce. That kind of substandard, depraved shit needs to live and govern amongst itself. I'm fine with it, as long as it's "over there" and needs a passport to come into my secure country.

 

[1srelluc]

This is why we need a divorce. That kind of substandard, depraved shit needs to live and govern amongst itself. I'm fine with it, as long as it's "over there" and needs a passport to come into my secure country.

While I agree to a point I have to tell you straight-up, if I was told I'd have to leave Virginia and move to a "free state" TX would be the absolute last on my list looking at the special interests that run your state and the fact that all your population centers are already dem shit-holes so why go there? The parched scrub land and mega subdivisions outside of the shit-holes do not appeal to me.

 

[odanny]

This is why we need a divorce. That kind of substandard, depraved shit needs to live and govern amongst itself. I'm fine with it, as long as it's "over there" and needs a passport to come into my secure country.

View attachment 767528

I certainly don't want a national divorce for our country, but am totally fine with Texas leaving the Union. We can replace you with some small Pacific island.

 

[multivita-man]

San Francisco Fed Chief Mary Daly makes $422k/year, and has been pushing her woke agenda - not banking.

Daly has no background in banking or managing risk. After dropping out of high school, she worked in a donut shop before eventually getting her GED and entering college, where she became enamored with a socialist professor.
She said she was inspired by Marxian economist Gene Wagner, who "has mentored me my whole life."

Several years later, after earning a PhD from Syracuse University, Daly landed a job as a labor inequality researcher at the San Francisco Fed, where she ingratiated herself with then-SF Fed President Janet Yellen, who helped her fail upward.

Daly (left) with her "wife".

Why woke ‘Frisco Fed chief missed Silicon Valley Bank’s warning signs

So how did GED Donut Girl pay for a degree and a PhD? Syracuse is not a cheap school.

I guess the commies infiltrate them young and groom them for years.

She has 2 degrees in economics; I think she knows about markets. The Fed has auditors who are supposed to look at what's going on with specific institutions.

Clearly, they were asleep at the wheel, but this bank probably would have passed conventional stress tests. The collapse of SVB and First Republic reflect systemic risk that was overlooked or not recognized by the entirety of the regulatory system.

As is typical, regulation is a reflection of past crises, not future ones.

 

[multivita-man]

This is why we need a divorce. That kind of substandard, depraved shit needs to live and govern amongst itself. I'm fine with it, as long as it's "over there" and needs a passport to come into my secure country.

Nah, you just need to get a grip.

 

[two_iron]

I certainly don't want a national divorce for our country, but am totally fine with Texas leaving the Union. We can replace you with some small Pacific island.

Your terms are acceptable my little faggot....

 

[Toddsterpatriot]

She has 2 degrees in economics; I think she knows about markets. The Fed has auditors who are supposed to look at what's going on with specific institutions.

Clearly, they were asleep at the wheel, but this bank probably would have passed conventional stress tests. The collapse of SVB and First Republic reflect systemic risk that was overlooked or not recognized by the entirety of the regulatory system.

As is typical, regulation is a reflection of past crises, not future ones.

She has 2 degrees in economics; I think she knows about markets.

Does she know more about markets than AOC?
It would be difficult to know less, eh?

 

[multivita-man]

She has 2 degrees in economics; I think she knows about markets.

Does she know more about markets than AOC?

I'm guessing she does.

It would be difficult to know less, eh?

From what I've seen in clips during various hearings, AOC is not, nor does she claim to be, an expert in banking, economics, finance, or related fields. But she does seem to do her homework, which is all I would ask of a rep or senator.

 

[Toddsterpatriot]

I'm guessing she does.



From what I've seen in clips during various hearings, AOC is not, nor does she claim to be, an expert in banking, economics, finance, or related fields. But she does seem to do her homework, which is all I would ask of a rep or senator.

AOC is not, nor does she claim to be, an expert in banking, economics, finance, or related fields.

That's good, because she's clueless.

 

[multivita-man]

AOC is not, nor does she claim to be, an expert in banking, economics, finance, or related fields.

That's good, because she's clueless.

That's your opinion and I won't try to change it.

 

[Toddsterpatriot]

That's your opinion and I won't try to change it.

Are you glad she saved Queens $3 billion by fighting the Amazon HQ2?

 

[multivita-man]

Are you glad she saved Queens $3 billion by fighting the Amazon HQ2?

I don't live in Queens and have not really studied the issue enough to have an opinion.

 

[Toddsterpatriot]

I don't live in Queens and have not really studied the issue enough to have an opinion.

You should look into it.
You'd realize she's clueless.

 

[multivita-man]

You should look into it.
You'd realize she's clueless.

I do know that Amazon has suspended construction on their other HQ2, so she might have had a point. I'd need to look at a valid economic impact study, though.

That being said, Amazon tried to strongarm local governments into giving them all kinds of special tax breaks and incentives, which is what major employers always do. She's not wrong in that, more often than not, these attempts to lure HQs aren't really worth it. Public education gets defunded. People lose affordable housing. And incomes often decline.

Whether that's true in the case of Amazon in Northern VA or whether that would have been the case with Amazon in NYC, I don't know, but it could be.

When It Comes to Economic Development, There's No Free Lunch

A new economic analysis suggests that when cities and states offer tax deals for large companies, public education suffers and incomes eventually fall.

www.bloomberg.com

 

[Toddsterpatriot]

I do know that Amazon has suspended construction on their other HQ2, so she might have had a point. I'd need to look at a valid economic impact study, though.

That being said, Amazon tried to strongarm local governments into giving them all kinds of special tax breaks and incentives, which is what major employers always do. She's not wrong in that, more often than not, these attempts to lure HQs aren't really worth it. Public education gets defunded. People lose affordable housing. And incomes often decline.

Whether that's true in the case of Amazon in Northern VA or whether that would have been the case with Amazon in NYC, I don't know, but it could be.

When It Comes to Economic Development, There's No Free Lunch

A new economic analysis suggests that when cities and states offer tax deals for large companies, public education suffers and incomes eventually fall.

www.bloomberg.com

I do know that Amazon has suspended construction on their other HQ2, so she might have had a point.

Her point was that the area could make better use of the $3 billion in incentives
that Amazon was going to receive. Because she's clueless.

 

[marvin martian]

San Francisco Fed Chief Mary Daly makes $422k/year, and has been pushing her woke agenda - not banking.

Daly has no background in banking or managing risk. After dropping out of high school, she worked in a donut shop before eventually getting her GED and entering college, where she became enamored with a socialist professor.
She said she was inspired by Marxian economist Gene Wagner, who "has mentored me my whole life."

Several years later, after earning a PhD from Syracuse University, Daly landed a job as a labor inequality researcher at the San Francisco Fed, where she ingratiated herself with then-SF Fed President Janet Yellen, who helped her fail upward.

Daly (left) with her "wife".

Why woke ‘Frisco Fed chief missed Silicon Valley Bank’s warning signs

So how did GED Donut Girl pay for a degree and a PhD? Syracuse is not a cheap school.

I guess the commies infiltrate them young and groom them for years.

The financial overlords who allowed this to happen are going to get wrecked.

 

[multivita-man]

I do know that Amazon has suspended construction on their other HQ2, so she might have had a point.

Her point was that the area could make better use of the $3 billion in incentives
that Amazon was going to receive. Because she's clueless.

Speaking hypothetically, let's say NYC/Queens/New York State give $3bln in various breaks and financial incentives to Amazon, which pledges to make good use of these and makes all sorts of 'wow' projections...and then pulls back on their plans because of changing conditions.

Obviously the changing conditions aren't necessarily Amazon's fault, but to her point, taxes pay for local schools and infrastructure, and now that's been taken away b/c everyone thought Amazon's overall economic impact would do various good things. Maybe she's not clueless for having that concern.

Did that actually happen? No, as I said, it's a hypothetical. However, this has happened in other communities who lured or even tried to lure major HQs.

Would it have happened? Hard to say, but the skepticism is warranted.

 

[AMart]

San Francisco Fed Chief Mary Daly makes $422k/year, and has been pushing her woke agenda - not banking.

Daly has no background in banking or managing risk. After dropping out of high school, she worked in a donut shop before eventually getting her GED and entering college, where she became enamored with a socialist professor.
She said she was inspired by Marxian economist Gene Wagner, who "has mentored me my whole life."

Several years later, after earning a PhD from Syracuse University, Daly landed a job as a labor inequality researcher at the San Francisco Fed, where she ingratiated herself with then-SF Fed President Janet Yellen, who helped her fail upward.

Daly (left) with her "wife".

Why woke ‘Frisco Fed chief missed Silicon Valley Bank’s warning signs

So how did GED Donut Girl pay for a degree and a PhD? Syracuse is not a cheap school.

I guess the commies infiltrate them young and groom them for years.

They always look like that.

 

[Toddsterpatriot]

Speaking hypothetically, let's say NYC/Queens/New York State give $3bln in various breaks and financial incentives to Amazon, which pledges to make good use of these and makes all sorts of 'wow' projections...and then pulls back on their plans because of changing conditions.

Obviously the changing conditions aren't necessarily Amazon's fault, but to her point, taxes pay for local schools and infrastructure, and now that's been taken away b/c everyone thought Amazon's overall economic impact would do various good things. Maybe she's not clueless for having that concern.

Did that actually happen? No, as I said, it's a hypothetical. However, this has happened in other communities who lured or even tried to lure major HQs.

Would it have happened? Hard to say, but the skepticism is warranted.

The online retail giant chose Long Island City — along with Arlington, Va. — for the HQ2 and said it plans to deliver the Big Apple 25,000 permanent jobs with an average $150,000 salary, along with an East River waterfront office complex totalling up to 8 million square feet.

The state enticed Amazon with $1.525 billion in tax credits and construction grants, while the city is giving $1.28 billion in tax breaks, officials said.

The state’s Excelsior Jobs Program will comprise most of its gift to Amazon.

The company will receive “performance-based direct incentives” of $1.2 billion from the program if it creates all of the 25,000 jobs it promised by 2028, according to an agreement signed by the city, state and Amazon.

Cuomo: $3B giveaway to Amazon ‘costs us nothing’

Gov. Cuomo and Mayor de Blasio on Tuesday rolled out the green carpet for Amazon — while claiming that $2.5 billion in taxpayer subsidies to lure the e-commerce juggernaut here won’t actually cost …

nypost.com

Can the city take the $1.28 billion in tax breaks and hire new teachers instead?