Patrick Rucker

Reporter covering finance for @capitol_forum. @ProPublica contributor. Something I should see? PO Box 33002. Raleigh, NC 27636. [email protected].

[Patrick Rucker @PatrickMRucker]

One of the biggest investors in a Trump-backed crypto fund has yanked his money - before the fund could even make a deal. 1/4 🧵

[Patrick Rucker @PatrickMRucker]

CRO has been sinking along with many other novel tokens. Executives behind the Cronos venture point out - rightly - that other founding investors have slightly increased their stake in recent months. Goldman's office declined to comment on why he bolted. More @Capitol_Forum

[Patrick Rucker @PatrickMRucker]

One of the biggest investors in a Trump-backed crypto fund has yanked his money - before the fund could even make a deal. 1/4 🧵

[Patrick Rucker @PatrickMRucker]

The venture, backed by Trump Media & Technology Group (#DJT), the parent of Truth Social, was conceived to mimic companies that accumulate bitcoin. Except this venture was going to stockpile CRO - a token minted by https://t.co/9IG8UfN8xK 3/4

[Patrick Rucker @PatrickMRucker]

2/2 And is UBS seeking a role in a Fannie/Freddie offering? Pulte had two meetings with the Swiss investment bank in recent weeks - one of those at the White House. FHFA did not respond to ? More from our FOIA request @Capitol_Forum

[Patrick Rucker @PatrickMRucker]

1/2 Interesting items on Bill @pulte calendar. Face-to-face with Goldman's Solomon and BlackRock's Fink in recent months but also FBI/Justice sit-down. This was a few weeks before the FHFA chief made allegations against Lisa Cook.

[Patrick Rucker @PatrickMRucker]

Insurance giant UnitedHealth has nearly 2700 subsidiaries and affiliates. Can a company that sprawling thrive? Some doubt it. "The nerve endings are not reaching the fingers and toes.” Our story with @TheProspect citing research from @wendellpotter @UHC https://t.co/xzaP8k0XT3

[Patrick Rucker @PatrickMRucker]

A Wall Street regulator has $1.6 bln in a rainy day fund and @DOGE wants to grab it. The cash is in a surplus account at the @USOCC and it's meant to help police big banks. In recent weeks, DOGE has asked whether it can grab the loot. Exclusive news @Capitol_Forum

[Patrick Rucker @PatrickMRucker]

BIG event today. Justice antitrust chief Gail Slater and FTC Chairman Ferguson are on the same stage. Get your eyeballs on this today! Livestream link below. $COF $DFS

[The Capitol Forum @Capitol_Forum]

In partnership with @fgs_global , join us on April 2nd for a unique virtual event featuring the biggest names in antitrust and competition:

[Patrick Rucker @PatrickMRucker]

story @Capitol_Forum in front of paywall: https://t.co/XoIV14TWV3

[Patrick Rucker @PatrickMRucker]

The Consumer Financial Protection Bureau was poised to sue Meta over allegedly abusing targeted ads when Rohit Chopra, the former director, was ousted this month. Will Trump’s pick for the CFPB drop the case against Facebook? 🧵

[Patrick Rucker @PatrickMRucker]

What’s the theory? Facebook creates an invisible profile of you that’s valuable to advertisers. Are you trustworthy? Should you get a credit card? A mortgage? Credit bureaus like Equifax help answer those questions and they report to the CFPB. Shouldn't Meta?

[Patrick Rucker @PatrickMRucker]

🤔CFPB staff have been locked out of the office so who filing these briefs?

[Patrick Rucker @PatrickMRucker]

The agency confirmed it’s “taking a close look at” the deal: “Further consolidation in markets core to American economic life - whether in the financial sector, agriculture, airlines, or groceries - does not serve the American economy, consumers, or competition well.”

[Patrick Rucker @PatrickMRucker]

New York and California are considering an antitrust suit to block Capital One’s (COF) proposed $35.3 billion acquisition of Discover Financial (DFS), sources familiar with the matter said. California was pretty direct:

[Patrick Rucker @PatrickMRucker]

“We are concerned that the Capital One/Discover merger could most affect those consumers who can afford it the least,” according to an emailed statement from the California Department of Justice, which is under state AG Rob Bonta.