The CEO of Bank of America, Brian Moynihan, said that the financial giant no longer believes a recession is on the horizon for the American economy, hinting that the Biden administration and Federal Reserve have achieved a ‘soft landing’ after inflation troubles in recent years,” The Hill reports.
Yeah, it was totally Biden that took down the regulatory state. Democrats are well known for their opposition to regulation.
Him and 81 other Senators, along with his friend Bill Clinton, in 1996. The Telecom Act of 1996 started the wave of consolidations in the industry that has lead to companies like Crowdstrike being the lynchpin for half the country’s digital security.
Since at least Jimmy Carter, they absolutely have. But the Clinton Era wave of Blue Dogs and neoliberals that have come through since are outspoken in their opposition to any and all forms of regulation that can be classified as “unfriendly to business development”. The end result is enormous, increasingly rickety and ill-managed corporate dinosaurs who need to be propped up by the federal government for fear their collapse will take out large portions of our domestic infrastructure.
As someone who’s worked in IT since the 90s, a good portion in security, this is so far the most ridiculous thing I’ve read all day. Clowdstrike ate their face because they begged for it, and consolidation has no direct causal link.
The day is yet young and I have texans on my calendar today, but so far this is the winner. Please, go touch grass.
What?