LendingClub, one of the nation’s first peer-to-peer lenders (oops! I mean, “marketplace” lenders—real ”peer to peer” lending lasted all of about a month), announced it plans to acquire Radius Bank, a relatively small Boston-based bank, unknown to most people outside of the industry (and within, for that matter).
The Fed worries about equity, and other, valuations, not because it is trying to time the markets, but because asset valuations can have a knock-on impact for the real economy. For example, the Fed states that. ”Financial imbalances—including overvaluation and excessive indebtedness— could amplify an adverse shock to the economy.”
Capitalism is taking some lumps—and not just in the headlines. For only the second year in a decade, both the number of billionaires and their total wealth shrank, proving that even the wealthiest are not immune to economic forces and weak stock markets. By our latest count there are 2,153 billionaires, 55 fewer than a year ago. Of those, a record 994, or 46%, are poorer (relatively speaking) than they were last year. In total, the ultra-rich are worth $8.7 trillion, down $400 billion from 2018. Altogether 11% of last year’s list members, or 247 people, dropped out of the ranks, the most since 2009 at the height of the global financial crisis.
Welcome to Opinion’s commentary for the Feb. 25 Democratic presidential candidate debate in Charleston, S.C. In this special feature, Times Opinion writers rank the candidates on a scale of 1 to 10: 1 means the candidate probably didn’t belong on the stage and should probably drop out; 10 means it’s on, President Trump. Here’s what our columnists and contributors thought about the debate.
The tragedy is that all the four federal roads, which have been serially neglected by successive central governments, have since become impassable death-traps. This has forced many users of these failed federal roads to navigate their way through bush paths to get to their various destinations.
How the police justified the grisly death is the most appalling aspect of the incident. In defending the cruel act, the Ogun State Police Command first claimed that Kazeem was arrested because he wore an army fatigue top. This was punctured by the deceased’s friend, who was in the car with him, and his father, Fasasi, who saw the Remo Stars jersey on his son’s corpse at the hospital. Kazeem’s mum said her son wore his team’s jersey when he left the house that morning. Not done, the police added that Kazeem killed himself when he tried to escape from his own car when the police stopped on the expressway to repair their squad car.
EFCC: SINCE President Muhammadu Buhari assumed power in 2015 with his anti-graft policy occupying a prime position in his Three-Point Agenda, his government has been severely criticized for deliberately sensationalizing the effort.
With the benefit of hindsight, it was not the first sign of a deep gash in Buhari’s presidency and worrisome symptoms of a divided house. The first indication of inherent disharmony showed up when the same presidency submitted to the Senate two damning reports from the State Security Service, which scuttled the confirmation of Ibrahim Magu as the Chairman of the Economic and Financial Crimes Commission (EFCC) in 2017. Magu has continued in an acting capacity to show that he remains the choice of the commander-in-chief despite the equally powerful camp of naysayers within the same presidency.
For Nigerians who expected President Muhammadu Buhari to come down hard on his kitchen cabinet, otherwise dubbed the cabal, for exposing the lack of cohesion in his government, through recent and previously leaked memos, that may not come soon.