Sept. 13, 2019 Banconomics Government News Report

September 13, 2019 

Top Story: Cryptocurrency and Facebook

Facebook Libra: What comes around goes around. Only faster.

The Wall Street Journal called the ambition “grand” in its report on Facebook’s desire to “Reinvent money. Transform the global economy. So people everywhere can live better lives.” However, what Facebook actually is attempting with its potential new offering is to complicate the global economy with two services, called Calibra and Libra. Calibra is a digital wallet and Libra is the cryptocurrency that the wallet stores. Read more.

BANCONOMIC's take...Is it really a good idea to repeat the wrong kind of history? Click here to find out and for awesome references to Monty Python and Nacho Libre. Or click here.

Other Important News

Dude, that's bank. What bankers are saying about the Bank Modernization Act.

Last week, Wisconsin Legislators Rep. Katsma and Sen. Marklein started circulated a bill that would tweak about seven different items that will help resolve real issues identified by financial institutions in WI and by the Wisconsin Department of Financial Institutions (DFI). And it's pretty cool. Here's what the bankers had to say.

hyperlink to the summary

What's the most profitable bank in Wisconsin?

Admit it. You want to know and we have the answers. Check out the Banconomics profitability report.

I want to see what banks are making bank.

Huh? Yemeni Rebel Drone Attack and Negative Interest rates?

If you confused the headline, "Yemeni rebel drone attack on major Saudi oil assets" with an advertisement for the latest Star Wars movie, you're not alone. But it's having an impact on the world's psyche and oil prices. However, whats got us scratching our heads is the President calling for negative interest rates?  

What are negative interest rates? Click on Investopedia, because the Banconomics editors are still just staring at each other.


Distraction of the Week

Who Said It: Biden or Trump?

President Donald Trump and Democratic frontrunner Joe Biden disagree on a lot of things, including who should run the United States and how it should be run. But when it comes to how they talk, they’re more alike than either might care to acknowledge. Born four years apart and raised in blue-collar neighborhoods in Queens and Scranton, Pa., respectively, the two politicians share a few verbal tics, including an outspoken appreciation of beautiful women, large crowds and their own IQs, and a tendency to phrase things a little indelicately. Take this quiz and see if you can tell who said what. 

Click here to take the quiz. Thanks, Bloomberg!

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This week's Government News Report highlights...