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THE BASIS POINT

Treasury chief Janet Yellen puts debt ceiling chaos into one critical sentence

  Janet Yellen (youtube.com) and Julian Hebron
May 12, 2023
 
 
 

Digital bank app CEO Chris Britt on niche Chime serves, how they make money, why Americans don’t trust banks

Julian Hebron
May 12, 2023
 
Big banks do a pretty good job with high income, high FICO score folks who have big deposits and are credit worthy, but for most Americans, the 65% that live paycheck to paycheck, the only way that big banks can make the math work on serving them is by being very punitive on fees.
Chime CEO Chris Britt on why fintech banking apps like his can serve middle to low income Americans better than big banks

MTV News anchors reminisce on coolest media job ever as show ends after 36 years

  Seth Abramovitch (hollywoodreporter.com)
May 12, 2023
 
 
 

Twitter’s likely new CEO is ‘tough as nails’ NBC ad chief Linda Yaccarino

  Alex Heath (theverge.com)
May 11, 2023
 
 
 

Debt Ceiling Default Shock: Mortgage rates 8.4%, Unemployment 8.3%, Home Sales down 23% (CHARTS)

  Jeff Tucker (zillow.com) and Julian Hebron
May 11, 2023
 
 
 

JPMorgan CEO Dimon: I don’t know what too big to fail means anymore

  Jamie Dimon (youtube.com) and Julian Hebron
May 11, 2023
 
 
 

Does Mr. Cooper’s Homepoint deal make it America’s largest mortgage servicer with $937b portfolio?

Julian Hebron
May 10, 2023
 
 
 

2023 JD Power consumer lending study shows fintech brands starting to go mainstream

  Craig Martin (jdpower.com)
May 10, 2023
 
 
 

The Rent In CPI Is Too Damn High. Also 5.5% Core CPI way above Fed target. What now?

Julian Hebron
May 10, 2023
 
 
 

Revisiting the guy who went viral for using ChatGPT to launch a startup with $100. Is it working?

  Shreeda Segan (meridian.mercury.com) and Julian Hebron
May 10, 2023
 
 
 

Inflation & debt ceiling kills confidence in Fed, Treasury, Congress, White House (POLL)

Julian Hebron
May 9, 2023
 
 
 

Homes Destroyed, Systems Hacked In Redfin vs. Zillow ChatGPT Bot War!

Robyn Gaito and Dennis Pettigrew
May 9, 2023
 
 
 

Was ‘Succession’ Zoom firing scene inspired by similarly cold layoffs at Better mortgage?

  Mike Redmond (uproxx.com) and Julian Hebron
May 8, 2023
 
 
 

OMG this $250m NYC penthouse is killer. See all photos of priciest home in the country.

  Sarah Jackson (businessinsider.com)
May 7, 2023
 
 
 

America’s 4127 banks now have $22.9t of assets & $20.7t of liabilities (INFOGRAPHIC)

  Niccolo Conte (visualcapitalist.com)
May 7, 2023
 
 
 
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  • Linkage – Handpicked News

    • SoFi and Figure founder Mike Cagney on fintech bank charters and whether blockchain is viable (fortune.com)
    • A spike in gasoline prices was largely responsible for a 3.7% annual increase in the consumer price index for August 2023. And here's a single view of all the items comprising inflation as of August 2023 (cnbc.com)
    • 23% of homebuyers under 30 used a cash gift from family for down payment, and another 21% used inheritance money. (redfin.com)
    • Americans' homes are worth more than ever, but home equity loans have plummeted as rising rates make them too expensive (axios.com)
    • Wealthy clients discussing investments with Morgan Stanley financial advisers can soon elect a chatbot listen in follow up with recommendations. How does it work? Will people be open to this? (reuters.com)
    • Goldman Sachs used to be a collective of hard-charging, never-sleeping, workaholic nerd assassins. Until it starts winning again, and its identity and place on Wall Street is unclear. (businessinsider.com)
    • Since March 2020, the interest rate on federal student loans was set to zero. That ends Sept. 1. Here’s how it’ll play out. (cnbc.com)
    • The move from crypto to artificial intelligence has fueled the markets this year, but some are questioning how much of it is real. Here’s Institutional Investor with details. (institutionalinvestor.com)
    • FTC approval conditions for ICE to acquire Black Knight require the merged entity to divest its Empower loan origination and Optimal Blue pricing engine businesses, and for the next 10 years, they'd need FTC approval before re-acquiring divested businesses. Here's the fine print on the FTC's deal approval. (ftc.gov)
    • In cities with empty downtowns and housing shortages, the obvious solution is converting offices. Here’s the kind of building that converts well, what incentives developers get, and pros explaining how the math works. (businessinsider.com)
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    • Apple pays $5m for Michael Lewis ‘Going Infinite’ book (due Oct 3) on Sam Bankman-Fried crypto grift
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