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Regulators Carve a Giant Loophole for Crypto Shadow Banks
The Office of the Comptroller of the Currency dropped its proposed anti-evasion safeguards against indirect stablecoin yield, opening the floodgates for venture-backed shadow banking. By replacing hard bans with opaque case-by-case reviews, federal regulators are allowing digital asset exchanges to siphon deposits away from Main Street lenders.
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The Justice Department Sells Cheap Absolution to CVS
The Justice Department announced a $315 million settlement with CVS Pharmacy Inc. for twelve years of illegal opioid dispensing and health care billing fraud. For a health care conglomerate grossing over $350 billion annually, the civil penalty operates as a negligible operating fee that secures total executive immunity. Once again, federal regulators treat the industrial peddling of narcotics as a routine accounting settlement.
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The SEC Feeds Main Street Retirements to Private Equity
The Securities and Exchange Commission has proposed gutting New Deal investor safeguards to allow private equity barons to levy 20 percent performance cuts on everyday retail retirement accounts. By extending interval fund lockups and eliminating wealth thresholds, regulators are engineering an escape hatch for Wall Street’s bad bets at the direct expense of working savers.