SERIES
Phil Gramm needed a floor vote and 262 buried pages to deregulate derivatives in 2000. This version needed one appointment. A one person CFTC has invoked emergency powers to keep Kalshi trading in New York against a $36 billion dollar state suit, and the collapse will be named after the wrong thing.
Federal courts blocked the effort to dismantle the consumer bureau. On Saturday it changes hands anyway, by statute, to the lawyer who pledged to protect servicemembers months before the agency tore up a $95 million order owed to them. No vote required.
Treasury seeded 500,000 children's accounts on July 4. The custodian is a brokerage fined $26 million for failing to verify customer identities. The means testing is billionaires choosing ZIP codes, at the government's request. The rules for who keeps six million customers at 18 are unwritten.
In 2017 Larry Fink called Bitcoin an index of money laundering. By 2026 BlackRock controlled 60 percent of all Bitcoin in U.S. spot ETFs. The public comment window on the rules that govern all of it closes today. Banking trade groups filed. Remittance households did not.
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