Archive July 2019
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Week InReview: July 19, 2019
Risk is ramping up in property CLOs revived after the crisis; Regulators extend foreign-funds Volcker treatment two more years; Central banks say they can't save economy by themselves; Fed's Williams urges banks to stop writing Libor contracts
Week InAdvance: July 15, 2019
Week InReview: July 12, 2019
On the run from US tax authorities, tech guru John McAfee puffs a cigar aboard his towering white yacht in a Havana harbor and says he can help Cuba evade the US government too — by launching a cryptocurrency that defeats a US trade embargo.
“You can’t just create a coin and expect it to fly. You have to base it on the proper blockchain, have it structured such that it meets the specific needs of a country or economic situation,” said McAfee.
“There are probably less than 10 people in the world who know how to do that and I’m certainly one of them.”
With him on the yacht are his wife, four large dogs, two security guards and seven staff for his campaign “in exile” for the Libertarian Party presidential nomination, McAfee said. He previously ran in 2016 and came in a distant third.
McAfee said he did not pay income tax for eight years for ideological reasons and was indicted. The Internal Revenue Service declined comment.
Fugitive US tech guru: Cryptocurrency is next Cuban revolution
Week InAdvance: July 8, 2019
Week InReview: July 5, 2019
"The amount of money in fixed-income exchange-traded funds passed $1 trillion last month, an ascendance that has reshaped the market in which countries and companies raise money to pay their bills....
"In June, The Wall Street Journal sat down with one of the biggest beneficiaries of the bond ETF boom: Rob Kapito, president of BlackRock. When asked about the liquidity-crunch criticism bond ETFs most often get, Mr. Kapito responded with an eye roll.
"Mr. Kapito made little effort to conceal his derision for armchair alarmists.
"'A lot of your colleagues have been trying to find a fault with this thing,' Mr. Kapito said. 'It's a pent-up desire that hasn't been fulfilled, because it actually works.'"
— The Wall Street Journal