Clayton, Gensler behind looming over-regulated crypto disaster

A private meeting between then-Securities and Exchange Commission Chair Jay Clayton and a newly minted professor at the MIT business school named Gary Gensler appears to have set the stage for the misguided course of crypto-regulation we see today. 
Gensler, of course, would go on to take Clayton’s job after Joe Biden’s 2020 presidential victory. It’s unclear if the hyper-ambitious Gensler was actually prepping for that outcome by asking for the meeting. What is unmistakable: his intention to shape regulatory policy for crypto that has increasingly become a disaster.

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Fed to the lions: Jerome Powell’s ‘taper’ chase may cost him his job

Jerome Powell should be a layup for a second term as Federal Reserve chair, and yet he’s not. 
The problem stems from Powell’s plans to begin “tapering,” or ending the Fed’s massive printing of money through asset purchases in the bond market. That’s leaving him vulnerable on reappointment, a growing number of Wall Street Fed watchers tell me. 
The bear case for Powell starts when his tapering exposes the big lie being promulgated by the Democratic leadership that their new spending plan is “paid for.

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Fed to the lions: Jerome Powell’s ‘taper’ chase may cost him his job

Jerome Powell should be a layup for a second term as Federal Reserve chair, and yet he’s not. 
The problem stems from Powell’s plans to begin “tapering,” or ending the Fed’s massive printing of money through asset purchases in the bond market. That’s leaving him vulnerable on reappointment, a growing number of Wall Street Fed watchers tell me. 
The bear case for Powell starts when his tapering exposes the big lie being promulgated by the Democratic leadership that their new spending plan is “paid for.

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Still-young crypto industry could grow stronger — if SEC allows it to thrive

The noise surrounding the $2.2 trillion crypto industry often drowns out the reality that we are on the verge of something revolutionary. If things go right, crypto and the blockchain technology could usher in the next Internet revolution. 
Things are now going terribly wrong. The US stands the very real chance of killing this business here by driving digital innovation overseas and ceding advancements to other countries including Communist China.

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Economy shook after 9/11 — but thanks to heroes, it did not crumble

What I remember the most about 9/11 is that it started out as a beautiful day: amazing sunshine, about 70 degrees and crystal-clear skies. It did not end that way, of course. 
In a few short hours, a cloud of smoke and dust enveloped much of Manhattan. Terrorists had just crashed jets into the city’s two tall­est buildings, the North and South towers of the World Trade Center. Nearly 3,000 people died. The US economy ground to halt. Life would never be the same.

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Media queen Shari Redstone’s ViacomCBS mega-merger a mess

A few years ago, it seemed that Shari Redstone hit the jackpot: Not only did she finally get rid of her chief tormentor in Les Moonves, she also pushed through a long-sought formal merger of the two companies she controlled, CBS and Viacom. 
The merger was a career moment for Shari: The former corporate lawyer and daughter of famous media mogul Sumner Redstone created what was considered a programming empire of news, entertainment and sports. Wall Street cheered Shari as the Queen of All Media. 
The cheering has now stopped. The Queen’s empire is faltering.

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Media queen Shari Redstone’s ViacomCBS mega-merger a mess

A few years ago, it seemed that Shari Redstone hit the jackpot: Not only did she finally get rid of her chief tormentor in Les Moonves, she also pushed through a long-sought formal merger of the two companies she controlled, CBS and Viacom. 
The merger was a career moment for Shari: The former corporate lawyer and daughter of famous media mogul Sumner Redstone created what was considered a programming empire of news, entertainment and sports. Wall Street cheered Shari as the Queen of All Media. 
The cheering has now stopped. The Queen’s empire is faltering.

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Growing political roadblock vs. big spender Joe Biden

As the debacle in Afghanistan consumes the Biden administration, Wall Street is keeping a closer eye on another debacle: that is, the president’s ambitions to turn the US into a European-style progressive paradise. 
It’s not that Biden and his acolytes in Congress and appointees to various regulatory agencies haven’t already moved the country decidedly leftward since his election.

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Ambitious SEC boss Gary Gensler cultivates Sen. Elizabeth Warren

If Gary Gensler sounds a lot like Elizabeth Warren, it’s not by accident but by design. He needs the powerful progressive senator in his corner to fulfill his ultimate, career-fulfilling goal, which, according to sources, is having his signature on the dollar bill as treasury secretary. 
Gensler just took the job as Securities and Exchange Commission chief. But people who have seen him in action for years as he served in various Treasury posts and as a commodities regulator in the Obama administration say his bureaucratic ambition knows no bounds.

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SEC boss Gary Gensler has few regulatory bullets on crypto: lawyer

Gary Gensler’s ambition to regulate the “Wild West” of cryptocurrencies is on a collision course with something he can’t regulate: more than seven decades of case law. 
That was the consensus among securities lawyers with whom I spoke following Gensler’s pronouncement last week that high on his ambitious agenda as chair of the Securities and Exchange Commission is to make the booming cryptocurrency market safe for even your grandmother. 
Of course, we all want to make the world a better place, and with something as new as crypto, there has to be a lot of funny stuff going on.

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