News — At The Edge — 6/9
▻https://hackernoon.com/news-at-the-edge-6-9-de5fc87c1189?source=rss----3a8144eabfe3---4
Two sets of unwanted harbingers this week.Undermining our #future — banks, inequality, & bad faith — by going in wrong direction.Harming our future — panopticon & war — without any redeeming benefit.~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~Undermining our futureFed Makes a Risky Bet on Banks —“That banks can’t be…trusted to judge the risks they take was a painful lesson…from the Great Recession…[so] Congress established the Volcker Rule… [that] restricted banks from speculating with depositors’ money…in hedge funds and private equity funds…[and] to demonstrate to regulators that such trades were for permitted purposes….Not any more….[Fed says] banks would establish their own risk limits and determine whether such trades are compliant….In other words, trust them, they’re risk-taking experts….If banks are (...)