Banks Archives - The Pennsylvania Daily Star

Federal Investigators Demanded Banks Search Private Transactions for Words Like ‘MAGA,’ ‘Trump’

January 20, 2024 Pennsylvania Daily Star Staff

On Wednesday, the Republican majority on the House Judiciary Committee revealed even more drastic examples of government surveillance and breaches of privacy in the aftermath of the protest on January 6th, including the searching of Americans’ private bank transactions.

According to Fox News, the Judiciary Committee and the subcommittee on the Weaponization of the Federal Government described their latest findings in a letter obtained by Fox. The letter states that investigators ordered banks to search through their customers’ private transactions for key terms such as “MAGA” and “Trump,” while also claiming that the purchasing of “religious texts” were a sign of “extremism.”

Banks Are Making Easy Money Off Crisis Government Program Designed to Bail Them Out

January 11, 2024January 10, 2024 Pennsylvania Daily Star Staff

Banks are leveraging current interest rate projections to make a profit off of a program created last year designed to give access to funds for the sector amid a banking crisis, according to The Wall Street Journal.

The Federal Reserve created the bank term funding program in the midst of a banking crisis started by a bank run at Silicon Valley Bank (SVB) in March due to fears that SVB’s collapse would spread to the rest of the industry, according to the WSJ. Struggling banks can take depreciated bonds at face value and exchange those with the Fed for one-year loans in an effort to bolster liquidity, but since the loans are tied to future interest rate expectations and interest rates are increasingly expected to drop in the near future, banks can turn a profit on the difference.

Banks Filed at Least Six Suspicious Activity Reports Flagging Joe Biden’s Home Address, Senator Says

December 9, 2023 Just the News

Banks filed at least six reports concerning Hunter Biden’s foreign business dealings that flagged President Joe Biden’s home address in Delaware and raised concerns about possible criminal activity involving money laundering or human trafficking, according to a U.S. Senator who investigated the first family’s finances for years.

Sen. Ron Johnson of Wisconsin, the top Republican on the Senate Permanent Subcommittee on Investigations, told the Just the News, No Noise television show Thursday night that the Suspicious Activity Reports (SARS) chronicled about $12 million in transactions over several years, some of which passed through Joe Biden’s Wilmington, Del., home where he had allowed his son to stay.

Another Major Credit Agency Downgrades Several U.S. Banks

August 23, 2023August 22, 2023 Pennsylvania Daily Star Staff

A major U.S. credit agency cut the ratings of multiple banks following a string of credit rating cuts due to factors like higher interest rates, according to an announcement from S&P Global.

S&P Global, one of the three major U.S. credit agencies, revised its ratings down for five regional U.S. banks after reviewing their risks related to funding, liquidity and asset quality, according to a S&P Global announcement. Moody’s, another top credit agency cut its ratings for ten U.S. banks earlier this month, according to Reuters.

Commentary: Recession Looms as Banks Collapse and the Economy Slows

May 6, 2023 Pennsylvania Daily Star Staff

The unemployment rate still remains at historic lows of 3.4 percent in April, according to the latest data by the Bureau of Labor Statistics, amid other worrying signs for the U.S. economy including a continued collapse of job openings, a string of bank failure and an overall slowing Gross Domestic Product (GDP).

In the survey, as the population increased by 171,000, those not in the labor force increased by 214,000 as labor participation dipped slightly by 43,000. Those who said they had a job increased by 139,000 after a 577,000 increase in March. As a result, the unemployment rate has actually ticked downward for two consecutive months from 3.6 percent in February, to 3.5 percent in March and now 3.4 percent in April.

The John Fredericks Show: Dr. Oz Versus the Gangster Banksters

April 4, 2022April 3, 2022 Julie Carr

Live from Virginia Friday morning on The John Fredericks Show, host Fredericks welcomed US Senate Candidate for Pennsylvania, Dr. Oz to the show to discuss his opposition and natural energy in the state.

Russian’s Financial Markets Remain Closed, as Punitive Ukraine Sanctions Go into Effect

March 3, 2022March 2, 2022 Pennsylvania Daily Star Staff

Russia’s financial markets remain closed Wednesday for the third day in a row as the country’s economy continues to take massive hits caused by Ukraine-related sanctions from Western countries.

The closure of the Russian exchanges is the longest since since 1998, according to Bloomberg News.