Pension funds call for longer bailout as Bank of England is set to pull the plug on emergency £65 billion bond-buying scheme to tackle market chaos

by Boo_Randy How many of these pension funds are already insolvent? https://www.dailymail.co.uk/news/article-11313705/Pension-funds-call-longer-bailout-Bank-England-set-pull-plug-emergency-bond-buying.html Pension funds are bracing themselves for the Bank of England to pull the plug today on a £65billion bailout designed to protect them from bond market chaos. The Bank stepped …

READ MORE

Upcoming $3 billion in state tax credits will disproportionately benefit high-income residents, experts say: High-income taxpayers could receive credits of more than $20,000 while a new estimate suggests low-income residents could see credits of just $9.

To get $20,000 back you must have an income of like $3 million a year lol. If you make $100k a year you’re getting back around $650   Nearly $3 billion in excess tax revenue is set to be returned …

READ MORE

NYC office buildings are set to see $50 BILLION in value wiped out as nearly 54% of workers in the Big Apple continue to work from home, new research suggests

by Boo_Randy It’s only Yellen Bux, but still…. https://www.dailymail.co.uk/news/article-11276799/NYC-office-buildings-set-50-BILLION-value-wiped-continue-work-home.html The city of New York continues to face devastating financial peril from remote work, as office buildings could potentially lose $50billion due to people doing their jobs from home. A recent …

READ MORE

SEC Punishes Barclays for having offered and sold approximately $17.7 billion of securities in unregistered transactions. Buyers of the “unregistered securities” right to demand Barclays buy back the products at the original price plus interest. Barclays sets 1.3 billion aside to cover the costs.

Sept 29 (Reuters) – British bank Barclays (BARC.L) agreed to a $361 million penalty over internal control failures related to the unregistered offer and sale of “an unprecedented amount” of securities, the U.S. Securities and Exchange Commission said on Thursday. https://www.reuters.com/business/finance/barclays-pay-sec-361-million-over-issuance-securities-2022-09-29/ h/t ringingbells

Hurricane Ian To Unleash Up To $70 Billion In Losses, Insurance Market Devastation And Even Bigger Spike In Inflation- Ian is arriving in the wake of six insolvencies among insurers that write homeowner policies in the state

Just three weeks ago we observed how the 2022 Hurricane season had neared its halfway point without any hurricanes making landfall on the coast of the United States. All that is about to change and with a bang: As the powerful Hurricane …

READ MORE

Bank of Japan spent an estimated 3.6 trillion yen ($25 billion) on the fx intervention last Thursday… today JPY is back at 145 almost entirely erasing the effects of the intervention…

A private-sector estimate puts Japan’s recent intervention in the currency market at more than 3 trillion yen, or over 20 billion dollars. The government and the Bank of Japan stepped into the market last Thursday to buy the yen and …

READ MORE

Brandon Wants $14 More Billion for Ukraine

by Chris Black Of course he does, there’s always 10% for the big guy: President Joe Biden is asking Congress to provide $13.7 billion in emergency dollars for Ukraine as U.S. aid to the war-torn country is running out. https://t.co/t7Ubbh7IrJ …

READ MORE