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Many of us have mentioned how the stablecoin yield debate playing out in Clarity, and the arguments made against yield by the bank trades, mirror the battle over money market funds in the 1970s. Well here's some proof.
Here's a letter submitted by the Independent Bankers
Great find. The arguments being made today are almost identical to those made about money market funds in 1980.
“Money market mutual funds are diverting funds from many of our nation's communities with the effect of increasing credit costs while diminishing credit availablity.…The growing seriousness of this funds diversion problem, combined with the fact that money market mutual funds are not subject to the same regulation and supervision imposed on banks…”
Many of us have mentioned how the stablecoin yield debate playing out in Clarity, and the arguments made against yield by the bank trades, mirror the battle over money market funds in the 1970s. Well here's some proof.
Here's a letter submitted by the Independent Bankers
@FAmmiranteTFJ In this hypothetical scenario, you would’ve drafted Smith much later, so yes. But at his current ADP he’s not worth the risk. Jalen Hurts sucks.
The mental part of returning from an ACL tear is the most difficult part.
When I speak about any player returning from an ACL tear this is the commentary that they rarely verbalize.
Props to Malik Nabers for actually saying what he was thinking and not giving some bland answer.
The banking industry has many of these clowns in their pockets. Hey @HawleyMO, since when is capitalism about protecting incumbents from disruption? Here’s an idea: either an industry adapts with the innovation or it dies. I didn’t realize it was your job, as a U.S. Senator, to protect the incumbent banking system.
News: Sen. Josh Hawley (R-Mo.) is a NO on the Clarity Act without changes to address concerns from banking & agriculture groups in his state
They are “very, very worried about the effect on community banks,” he said. “They are blowing me up over it.”
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