Andrew Smith

[Graziella Pastor @GraziellaPastor]

I saw it firsthand at the White House: AI is winning in reality but losing in perception.

A growing comms crisis has turned a breakthrough technology into a political liability, just in time for the midterms.

Is AI the next Big Tobacco?

Read my debut Op-Ed:
https://t.co/VNeKf9LT4K

#AI

[Ari Fleischer @AriFleischer]

If you want to know why Donald Trump was elected, watch Barack Obama’s attack speech yesterday at Jesse Jackson’s funeral. As he did throughout his presidency, he created a straw man to describe Republicans as bigots who force the American people to “turn on each other”.

He said similar crap when he was President and the GOP was the party of Bush, McCain and Romney. It’s the language of bitterness and resentment that makes good people recoil to be described that way.

Obama is one of the most divisive figures in US history, except he is celebrated by the MSM because they are partisans. They take sides and loved and protected Obama.

It’s no wonder a tough, no BS, bull in the China shop emerged. That person was a fed up Trump, who broke the MSM by not caring what they thought. He showed Rs they could punch back against the Ds and win. His rise coincided with the welcome birth, at long last, of conservative media which gave voice to the voiceless who had been forced to consume the prejudices of the MSM.

I can’t stand Obama. He was weak, patronizing, condescending and he put America last.

But having listened to him yesterday, I reminded the only good thing he did was help elect President Trump.

[Ambassador Nicole McGraw @USAmbCroatia]

As we welcome the New Year, I am filled with gratitude for the enduring friendship between the United States and Croatia. In 2026, we will celebrate the 250th anniversary of the United States of America, a milestone that reflects our shared democratic values and the spirit of innovation that unites us. Sretna Nova Godina, and here’s to a historic year ahead for both of our nations!

[Michael Caputo @MichaelRCaputo]

“Michael, I don’t want to alarm you, but you need to be examined right away,” Redfield warned me. “That could indicate cancer.”

The Scientist Who Saw It Coming | The American Spectator
https://t.co/psjhFzNLnd

[zerohedge @zerohedge]

Trump Classified Docs Case Dismissed, Judge Finds Special Counsel Appointment Unconstitutional https://t.co/nxxFqPEsrk

[Collin Rugg @CollinRugg]

BREAKING: Donald Trump pumps his fist as blood covers his face after ‘pops’ ring out.

[JW @JwMeyn]

At the Trump rally. Assassination attempt with several shots fired. Guy in the bleachers next to me hit in the head and killed. Trump hit.

[Kyle Becker @kylenabecker]

Never forget: @60Minutes *LIED* to Americans to protect the Biden campaign ahead of the 2020 election

[SEC Chair Gary Gensler Archive @GenslerArchive]

This is a reminder to secure your financial accounts as well as protect against identity theft and fraud.

Remember to:
🔒Use strong passphrases or passwords
🔒Set up multifactor authentication
🔒Keep account alerts turned on

#CybersecurityAwarenessMonth

https://t.co/qitGkujLxD

[U.S. Securities and Exchange Commission @SECGov]

Careful what you read on the internet. The best source of information about the SEC is the SEC.

[Andrew Smith @Andrew_H_Smith]

https://t.co/PqqTheqD6E

[Andrew Smith @Andrew_H_Smith]

@AskAmex So another "no"? Is there no one that I can escalate my case to?

[Andrew Smith @Andrew_H_Smith]

@AskAmex Please help. No one from your business checking can help me with my welcome bonus! I've been on the phone for over an hour (Eric & Luanda) and only been told no!?!?

[Andrew Smith @Andrew_H_Smith]

@AmericanExpress Please help. No one from your business checking can help me with my welcome bonus! I've been on the phone for over an hour and only been told no!?!?

[Bill Ackman @BillAckman]

The gov’t has about 48 hours to fix a-soon-to-be-irreversible mistake. By allowing @SVB_Financial to fail without protecting all depositors, the world has woken up to what an uninsured deposit is — an unsecured illiquid claim on a failed bank. Absent @jpmorgan @citi or @BankofAmerica acquiring SVB before the open on Monday, a prospect I believe to be unlikely, or the gov’t guaranteeing all of SVB’s deposits, the giant sucking sound you will hear will be the withdrawal of substantially all uninsured deposits from all but the ‘systemically important banks’ (SIBs). These funds will be transferred to the SIBs, US Treasury (UST) money market funds and short-term UST. There is already pressure to transfer cash to short-term UST and UST money market accounts due to the substantially higher yields available on risk-free UST vs. bank deposits. These withdrawals will drain liquidity from community, regional and other banks and begin the destruction of these important institutions. The increased demand for short-term UST will drive short rates lower complicating the @federalreserve’s efforts to raise rates to slow the economy. Already thousands of the fastest growing, most innovative venture-backed companies in the U.S. will begin to fail to make payroll next week. Had the gov’t stepped in on Friday to guarantee SVB’s deposits (in exchange for penny warrants which would have wiped out the substantial majority of its equity value) this could have been avoided and SVB’s 40-year franchise value could have been preserved and transferred to a new owner in exchange for an equity injection. We would have been open to participating. This approach would have minimized the risk of any gov’t losses, and created the potential for substantial profits from the rescue. Instead, I think it is now unlikely any buyer will emerge to acquire the failed bank. The gov’t’s approach has guaranteed that more risk will be concentrated in the SIBs at the expense of other banks, which itself creates more systemic risk. For those who make the case that depositors be damned as it would create moral hazard to save them, consider the feasibility of a world where each depositor must do their own credit assessment of the bank they choose to bank with. I am a pretty sophisticated financial analyst and I find most banks to be a black box despite the 1,000s of pages of @SECGov filings available on each bank. SVB’s senior management made a basic mistake. They invested short-term deposits in longer-term, fixed-rate assets. Thereafter short-term rates went up and a bank run ensued. Senior management screwed up and they should lose their jobs. The @FDICgov and OCC also screwed up. It is their job to monitor our banking system for risk and SVB should have been high on their watch list with more than $200B of assets and $170B of deposits from business borrowers in effectively the same industry. The FDIC’s and OCC’s failure to do their jobs should not be allowed to cause the destruction of 1,000s of our nation’s highest potential and highest growth businesses (and the resulting losses of 10s of 1,000s of jobs for some of our most talented younger generation) while also permanently impairing our community and regional banks’ access to low-cost deposits. This administration is particularly opposed to concentrations of power. Ironically, its approach to SVB’s failure guarantees duopolistic banking risk concentration in a handful of SIBs. My back-of-the envelope review of SVB’s balance sheet suggests that even in a liquidation, depositors should eventually get back about 98% of their deposits, but eventually is too long when you have payroll to meet next week. So even without assigning any franchise value to SVB, the cost of a gov’t guarantee of SVB deposits would be minimal. On the other hand, the unintended consequences of the gov’t’s failure to guarantee SVB deposits are vast and profound and need to be considered and addressed before Monday. Otherwise, watch out below.

[Paul Grewal @iampaulgrewal]

If I grow oranges myself and harvest them myself, the oranges are not securities. If I grow oranges myself and harvest them using a contractor that charges me a fee, the oranges are still not securities.

[John Arnold @johnarnold]

Enviro groups fighting the wrong fight. No less emissions if NG is produced in West Virginia vs Qatar, or if oil is produced on public lands vs Saudi. Stopping domestic production is squeezing the balloon. Emissions are a function of global demand for hydrocarbons, not US supply.

[Andrew Smith @Andrew_H_Smith]

US MINES Act seeks to curb Russia, China grip on critical minerals https://t.co/LtH8l5gIId