Scoop in the @FT 's @FundFire: Morgan Stanley is rolling out alts-only model portfolios and prepping to offer alts in its rep-as-advisor program. SEC records reveal the wirehouse's next move in pushing private investments down market.
Building off a scoop from earlier this year: The firm plans to add 60 to 70 alternative investment strategies to its adviser offering in 2025, with a focus on evergreen private credit and infrastructure funds.
Some personal news! Today is my first day covering media for the @washingtonpost. I'll be here for the next six months writing about news organizations, press freedom, and how people get their information. Send tips, press releases, and friendly barbs to [email protected]
Hegseth wrongly stated today that “over four years” during Trump’s first term “there was no Russian aggression.” This is false. Russia did invade in 2014. But the war in eastern Ukraine’s Donbas didn’t end. It continued until Russia’s 2022 invasion. It was at a simmer with frequent deadly flare-ups. But it was still a war—on European soil, no less. And people were killed in fighting during Trump’s term. I won’t list all of the many Russian attacks that occurred then, but one of the worst was in Avdiivka in winter 2017, for example.
Just got off the phone with a northern California non-profit
They provide emergency funds to help homeless veterans, particularly immediate $ to get them into hotels/shelters
They are close to 100% funded by federal grants
Official warned homeless veterans will get hurt if their grants are frozen, which they think appears likely under the OMB order
If you have more stories inside the gov or out, I can be reached securely on Signal at 9178872891
@MarcHochstein There are compelling arguments in favor of maintaining strategic reserves for a wide range of commodities. It should be part of our overall commitment to price stability tbh.
New: A writer at the Root died a few days ago. Today, the publication emailed staff telling writers they would have to increase the number of stories they publish a day in part to "help us offset the tragic loss of Stephanie."
https://t.co/zPuox5L8ip
This…would basically amount to *actually* stealing a seat. It’s incredible that this is about to succeed, and it’s crazy that it’s not getting more attention.
CoinDesk owners Bullish fired the publication's three top editors, including EIC Kevin Reynolds, this morning following newsroom controversy over the removal of an article about billionaire Justin Sun:
https://t.co/kKBKGIbugB
@PeteHegseth Hegseth has said that he got into West Point but didn’t attend.
We asked West Pt public affairs, which told us twice on the record that he hadn’t even applied there.
We reached out. Hegseth's spox gave us his acceptance letter.
We didn't publish a story.
That's journalism.
ProPublica's @eisingerj to his staff: "We face the biggest test of our professional lives. Now we get to see if we really meant it when we said we will hold power to account. Will we do so when our subjects have true power on their side and a willingness to use it? We may be harassed. We may be sued. We may be threatened with violence. We may be ignored. Are we just sunshine journalists or are we ready?" https://t.co/1ZKacavcNK
@NoelleInMadrid@FT Extremely unlikely. Money transmitters, under U.S. law, typically include businesses that transfer funds between different parties or locations, or across borders.
Although the circumstances today are different, the general lesson is the same: whether they like it or not, business leaders bear responsibility for whether a republic endures or is destroyed."
Reminds me of Timothy Snyder's fourth rule for fighting fascism:
"Big business should support democracy. In the Germany of the 1930s, business leaders were not necessarily enthusiastic about Hitler as a person. But they associated democracy with labor unions...
"...and wanted to break them. Seeing Hitler as an instrument of their own profit, business leaders enabled the Nazi regime. This was, in the end, very bad for business.
Ever wonder why so many voters don’t trust plenty of media outlets’ hard reporting as objective/neutral? Perhaps because those outlets’ editorial boards and personalities have literally endorsed candidates, and voters don’t get the distinction.