Tag: Elizabeth Warren

ECP NetHappenings Elizabeth Warren vs John Deaton for Senate

@NerdNationUnbox
https://twitter.com/NerdNationUnbox/status/1780424672808411313
Some of Elizabeth Warren‘s largest donors include #Stanford, #Harvard and #BlueHavenInitiative… all of which have ties to the billionaire Pritzker family.

Penny Pritzker is basically on the #Wanxiang payroll and on the board of trustees of Stanford and of Harvard Corporation.

The Priztker family which includes Penny, JB and others all have ties to CCP 🇨🇳 #Wanxiang

Illinois’s Gov. JB Pritzker is also business partner with #Wanxiang in a billion dollar real estate deal.

The cofounder of Blue Haven is Liesel Pritzker, cousin of JB.

#Wanxiang works with #Ethereum to circumvent Us sanctions and the Pritzker family makes deals with NorthKorea… I guess Elizabeth Warren is ok with all this. A former General Consultant for the Elizabeth Warren for President campaign, Stephen Campbell, now works for Gov. JB Pritzker.

This is not the person you want for Massachusetts! #VoteJohnDeaton

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ECP NetHappenings Newsletter The Trails

ECP NetHappenings @BoringSleuth vs. Prometheum Inc.

@BoringSleuth Wang Dongfeng involved in 9 figure crypto hacks

 

@samcallah

The IMF just published a paper on Bitcoin cross-border flows, and here are three major takeaways.
1.) The study provides evidence that increased Bitcoin activity occurs as investors move away from risk assets and supports the findings of other studies that Bitcoin can be used to hedge global uncertainty. “An increase in the VIX is associated with higher Chainalysis inflows and outflows. This significant, positive response may reflect increased activity via the Bitcoin market as investors move away from risk assets.” This study shows that contrary to popular belief, individuals around the globe are treating Bitcoin as a “risk-off” asset rather than a risky one.

2.) The study concludes that people appear to be turning to Bitcoin to flee instability in their local economies and currencies and to circumvent capital controls. “We contribute to this debate by providing cross-country panel evidence that off-chain cross-border outflows are positively correlated with a Bitcoin parallel premium, which we interpret as a broader proxy for exchange rate pressures, reflecting macroeconomic imbalances.” “An increase in the parallel premium is associated with higher LocalBitcoins outflows. This finding indicates that Bitcoin may be used to circumvent capital controls.” So people appear to be using Bitcoin just as it was intended to be used, as censorship-resistant money that can protect them from currency instability and government censorship/seizure. Nice.

3.) The findings highlight that Bitcoin flows are typically larger in emerging and developing markets, like Argentina and Venezuela, compared to advanced economies with sophisticated financial markets. Countries with the largest Bitcoin inflows: Seychelles, Venezuela, Moldova, Venezuela, Nigeria, Central African Republic. One possible explanation for the high inflows in countries like Seychelles and Moldova is the low taxes and light-touch regulations that have attracted crypto exchanges to their shores. However, these countries are notable because many of them have high rates of currency debasement and economic instability, indicating that people are turning to Bitcoin as a safe haven asset.
https://twitter.com/samcallah/status/1780951180765515857

 

Betsy Devos found in Contempt fined $100,000 for hurting kids.

Secretary of Education Betsy DeVos in contempt of court

STILL Enforcing Loans On Defrauded College Students.

The government will pay the $100,000, and DeVos will not be personally responsible for the sum.

Ten third-party contractors were involved in collecting the loans, and the judge’s opinion notes that the Education Department didn’t do much to make sure it followed the orders, beyond sending a few emails.

It’s rare for a judge to find a Cabinet secretary in contempt of court. Sen. Elizabeth Warren, a presidential candidate, has called for DeVos to resign over this issue.

the Education Department was supposed to simply refund all the money borrowed by students who attended Corinthian during the time it was making false claims.

DeVos Won’t stop  collecting loans from former students of a now-defunct chain of for-profit colleges.

$100,000 will go toward various remedies and legal expenses for students who are owed debt relief from the Education Department after Corinthian Colleges collapsed in 2014, according to the ruling.

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Toby Merrill, the Harvard University lawyer and director of the Project on Predatory Student Lending who brought about the class action suit on behalf of 80,000 affected students against the Education Department. Harvard Law School
https://www.newsweek.com/education-secretary-betsy-devos-contempt-court-student-loan-scandal-1467672

https://www.npr.org/2019/10/25/773334681/devos-held-in-contempt-of-court-ed-department-fined-100-000-in-student-loan-case

The Project on Predatory Student Lending represents the students in the lawsuit.
https://nationalinterest.org/blog/buzz/judge-fines-devos-100000-contempt-court-91521

Top Betsy DeVos appointee abruptly quits, calls for canceling $925 billion in student loan debt

Trump’s top student loan official resigns — and immediately calls for ditching “fundamentally broken” loan system.

A. Wayne Johnson was appointed by DeVos in 2017 as chief operating officer of the Office of Federal Student Aid, which oversees the more than $1.5 trillion in student debt accrued by millions of Americans. He later moved into a different position, leading an effort to overhaul how the agency handles borrowers and lenders.

A. Wayne Johnson appointed by Secretary Betsy DeVos abruptly announced his resignation on Thursday and called for the cancellation of more than $900 billion in student loan debt.

Johnson told the outlet that repayment trends suggest that much of the outstanding debt will never be repaid and called for an overhaul of the entire student lending system.

Johnson  hopes to be appointed to the Senate seat in Georgia  by Gov. Brian Kemp, a Republican, but will run for the seat in the next election if he is not selected.

Johnson’s plan would forgive more debt than the plan proposed by Sen. Elizabeth Warren, D-Mass., which would cancel all debt up to $50,000 for families earning under $100,000 per year. Johnson’s plan, which has no income cap, would fall short of the plan proposed by Sen. Bernie Sanders, I-Vt., who has called for the cancellation of all student debt.

Rep. Robert C. “Bobby” Scott (D-Va.), chairman of the House Education Committee, is threatening to subpoena Education Secretary Betsy DeVos for more documents related to the department’s role in Dream Center’s actions. Scott says the agency has obstructed the committee’s investigation and refused to answer questions, as emails and letters paint a picture of a federal agency complicit in an effort to place profits before students

Trump administration let nearly $11 million in student aid go to unaccredited for-profit colleges

Mounting evidence shows the Trump administration took extraordinary steps to keep two Art Institute campuses accredited after both lost the designation and access to federal student aid. Now one former student is suing the Education Department for violating its own rules.

https://www.educationdive.com/news/facing-insolvency-dream-center-is-unloading-art-institutes/546114/

Turmoil at Dream Center Colleges Spills Open With Seattle “At-Risk” Designation