Bernie Marcus Calls Dodd-Frank "Bonnie and Clyde" for Destroying Small Community Banks

Speaking on CNBC's Squawk Box, Bernie Marcus, co-founder of The Home Depot, blasts the regulations coming from the Dodd-Frank Act as "Bonnie and Clyde" because they are going to destroy small community banks. In the process, there will be no loans made to potential start-ups and the source of future jobs creation will be lost.

Comments

Post a Comment

Popular posts from this blog

Crypto Index Funds Scramble to Win Over Hesitant Investors

Image
Hunter Horsley, chief executive officer of Bitwise Entrepreneurs believe that crypto index funds will greatly expand the crypto investor base just as the S&P 500 and the Russell 2000 indexes have done for stocks.   By Robert Stowe England As entrepreneurs look to take cryptocurrency mainstream, they’re copying a tried-and-trusted approach from traditional investing: indexing. Index investing is designed to generate returns that are similar to a broad market index. This approach can reduce the risk of picking individual assets which might underperform the broad market. So, in the case of an equity index,  instead of picking say Exxon, Apple, Johnson & Johnson, and Ford, for example, you invest in the broad market.  Several new crypto index products have launched recently, offering investors new avenues into the market without some of the risks associated with putting money into single blockchain projects.  Crypto indexers take their cu...
Read more

GFG Australia gains financing to acquire GFG US wire rod assets

InfraBuild, the Australian steel and recycling unit of London-based GFG Alliance, has secured a $350 million loan to acquire US-based wire rod steel businesses from its parent company. Jefferies LLC acted as sole arranger on a senior secured asset-backed term loan by funds and accounts managed by BlackRock and Silver Point Finance, GFG stated Monday May 29 The success of funding "exceeded expectations" in terms of total funds raised, an industry source familiar with Liberty Steel's US operations told Fastmarkets Thursday June 1. There is no immediate impact on Liberty Steel's wire rod businesses in the US, as those business "have already been an operating part of the group and this just formalizes that," the source added. InfraBuild said it will continue to explore various additional financing alternatives that can be used together with the proceeds of the asset-backed term loan, “to further drive its growth and potential acquisition of steel assets in the U...
Read more

Cathie Wood: The Big Risk Is Deflation, Not Inflation

The big risk ahead over the next five years is deflation, not inflation, and it will benefit investments in innovation strategies, according to Cathie Wood, founder and chief executive officer of Ark Invest. Robert England Innovator companies, who share prices have tumbled 30-35% from their heights earlier this year, are likely to return 25-30% in each of the next five years from their current levels, Wood is predicting. “In terms of the recent behavior of value stocks, especially those we believe are in harm’s way, compared to the severe draw down of innovation stocks, I like the set up very much,” Wood said.   While the current situation is reminiscent of the runup in prices from 2006 to 2008, the bond market is signaling that may not be the case, Wood said.    Instead of 10-year Treasury yields rising sharply higher as it did during the 2008 financial crisis, the bond market “has settled down” following a sharply higher move in yields earlier in the year on inflation f...
Read more