Hobson’s Choice is defined as “a choice of taking what is available or nothing at all” which is where we feel the Fed is standing at the present moment. The Fed currently holds its benchmark funds rate, which banks charge each other for short-term lending, is at 4.58% today compared to 0.33% last year and is lower than the long-term average of 4.60%. We are in this position because of tremendous volatility in the Financial Markets since last week with the failure of three medium sized US banks viz. Silicon Valley Bank, Signature Bank and Silvergate Bank along with well publicized
Category: US Federal Government Oversight
Algorithms, Big Tech, Cybersecurity, Tech Leadership, TikTok, US Federal Government Oversight, US National Security, US Trade Policy
TikTok Takedown Order: National Security recommendations to prevent actionable surveillance of American Citizens by a Hostile Foreign Power (China)
(Uploaded 8/25/20) TikTok is a very popular app with over 1 Billion downloads, which translates to almost 1/7th of World Population. This app is very popular among youngsters here in the USA, just as it has taken the world by storm. TikTok like all other “free” social media platforms, treats its users as their product, their personal data as its currency, and their Business Model is predicated on trading one’s personal information to use these “free” services. The app’s privacy policy says TikTok “may share your information with a parent, subsidiary, or other affiliate of our corporate group” while
Well Played Mr. President!
Posted May 29, 2020 President Trump’s today issued an Executive Order to address the issue of “Online Censorship” by Social Media “Big Tech” companies. In our opinion, this is a great first step in enforcing “fairness” in Social Media content moderation. Section 230 of Communication Decency Act, also known as “Internet Law” provides a framework for Internet operation granting broad immunity to platforms (such as Twitter) that curate and moderate content from lawsuits. This protection is predicated on tech platforms operating in “good faith” failing which these entities lose their “legal immunity” making them open to litigation. However, in
Computer Secruity, Computer Security, Cybersecurity, Tech Leadership, US Federal Government Oversight
Personal Privacy – A Mirage in today’s Tech World? Call to action to protect us!
Are we giving up our privacy for convenience without thinking about the consequences? It seems that we all desire data privacy, but our actions often seem to indicate otherwise! We have always been calling for users to be careful of what they post online. My kids are familiar with my saying to them all the time “think before posting / texting / tweeting anything online… because once you do, it will stay there forever!”. It is our view that people do not fully appreciate how pervasive our online digital footprint is and the amount of information (related every aspect
Economics, Financial Markets, US Federal Government Oversight, US Fiscal Policy, US Monetary Policy, US Stock Market
Fed’s Good Call today – Thank you for signaling a more data driven, cautious and market-friendly approach
(Published January 30, 2019) We are extremely delighted and relieved, in equal measure, that the Federal Reserve held its key interest rate steady today. “The case for raising rates has weakened somewhat,” Fed Chairman Jerome Powell said at the post FOMC Meeting news conference. He also indicated that a “wait and see attitude with patience is warranted”. “The U.S. economy is in a good place, and the current policy stance is appropriate” he said, but added there’s growing evidence of “crosscurrents,” such as slowing growth in China. “In light of global economic and financial developments and muted inflation pressures, the
Computer Security, Cybersecurity, Geopolitics, Tech Leadership, US Federal Government Oversight, US National Security, World Affairs
Race to 5G Implementation: Our National Security Considerations need to be paramount
Published Dec 24, 2018 Based on what we see and read in the media, “5G” stands for fifth generation of internet connectivity. This next-generation technology promises unprecedented speeds and coverage with more stability than existing telecommunication networks. This 5G network is expected to facilitate revolutionary technologies such as “autonomous vehicles” and “smart electricity grids” and provide a quantum leap in capabilities with connected (IoT) devices just as 4G enabled us to have applications like Uber. Among various benefits being reported is the promise of 5G to support building of “smart cities” with an advanced network that connects an array
Wells Fargo Fake Account Scandal – Lessons for Financial Institution Leadership and Banking Regulators
Published earlier in Oct 2016 in my earlier Blog – Ported here in Aug 2017: As we have all read in the news recently, Wells Fargo & Co is currently embroiled in a fake accounts creation scandal. It is understood that this was a multiyear “scam” where millions of unrequested, fee-generating customer accounts were unearthed at Wells Fargo (WFC), a bank traditionally considered “old school” and “conservative”. The alleged misconduct was revealed when the Consumer Financial Protection Bureau (CFPB), the Los Angeles City Attorney and the Office of the Comptroller of the Currency (OCC) fined the bank $185 million, alleging that more