China Hawk on the End Goal of US-China Relations
Chairman John Moolenaar, who heads the House Select Committee on the Strategic Competition Between the United States and the Chinese Communist Party calls for China to 'acknowledge the reality that their government is moving in a very different direction than they promised'. He speaks to Bloomberg's Haslinda Amin on the sidelines of the Shangri-La Dialogue. (Source: Bloomberg)
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Bloomberg Businessweek Daily: Wells Fargo Cap Lifted
Watch Carol and Tim LIVE every day on YouTube: Wells Fargo & Co. finally escaped a Federal Reserve asset cap that has restricted its size for more than seven years, unleashing the firm from the unprecedented punishment in a major win for Chief Executive Officer Charlie Scharf. The bank's shares surged. The Fed said in a statement Tuesday that Wells Fargo met all conditions required by an enforcement action imposed on the bank in 2018 to remove the restriction. The central bank completed its review of Wells Fargo's remediation efforts and third-party assessments, as well as its own assessment of the bank's corporate governance and risk management programs, it said. The hotly anticipated verdict closes the door on nearly a decade of scandals at the fourth-largest US lender and allows the bank to pursue growth again. Since the cap was imposed in February 2018, it became the most-feared punishment in banking and caused Wells Fargo to miss out on about $39 billion in profits by one measure. The Fed said that other elements of the 2018 enforcement action will remain in place for now. Today's show features: Bloomberg News US Finance Team Leader Sally Bakewell on Wells Fargo being released from a Federal Reserve asset cap that has restricted its size for over seven years Bloomberg Radio and Television Anchor Alix Steel on Meta's deal to buy nuclear power from Constellation Energy to help run its AI platforms Bloomberg News National Security Team Leader Nick Wadhams on President Donald Trump's decision to attend the upcoming NATO summit and NATO's push to boost European to air defenses Katy Kaminski, Chief Research Strategist of AlphaSimplex on key trends to watch in the equity and bond markets Eric Clark, Chief Investment Officer at Accuvest Global Advisors on consumer-focused ETFs and investing strategies
Yahoo
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BlackRock Escapes Texas Oil-Boycott List After ESG Retreat
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Fox News
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- Fox News
Michael Moore proposes new Pledge of Allegiance against Trump and 'MAGA-heads'
Progressive filmmaker and activist Michael Moore rewrote the words of the U.S. Pledge of Allegiance on Monday, asking his readers to unite against President Donald Trump and "MAGA-heads" in the country. "I pledge allegiance to the people of the United States of America. And to the democracy for which we all stand: One person, one vote, one nation, part of one world, everyone! A seat at the table! Everyone! A slice of the pie! With liberty and justice, equality, and kindness and the pursuit of happiness for all," Moore wrote on his Substack account. The "Fahrenheit 9/11" director said he wrote the new pledge "[f]or the people and for the country that deep down — in spite of its MAGA-heads, in spite of its insanity — we've decided to fight for its survival, holding onto a belief that we can make it better, that we can fix it, that we can end the madness and create a true Democracy for which it stands." After providing his pledge, Moore called on readers to act and offered several actions that would take just a few minutes, including emailing a one-sentence message to an elected official, calling a member of Congress, signing up for a local progressive group or creating a sign for an upcoming rally. He implored readers to take at least one political action every day. "Our hearts do not go more than a second without creating a beat. Our lungs do not skip more than 3 seconds without taking a breath. Can we all, all of us, together, pledge to not skip a day right now without taking some simple sort of political action?" Moore wrote. Moore has come out against staples of the United States in the past but has usually targeted the Second Amendment, which protects the right to gun ownership. In 2022, he proposed a "28th Amendment" to the U.S. Constitution to repeal the Second Amendment and enforce nationwide gun control. "The inalienable right of a free people to be kept safe from gun violence and the fear thereof must not be infringed and shall be protected by the Congress and the States. This Amendment thus repeals and replaces the Second Amendment," Moore wrote at the time.
