Your Daily Dose of Financial News

Demolition of an old house
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Following yesterday’s US/Mexico trade announcement, Canada’s wasting little time in getting back to the table with the US on revised Nafta talks – NYTimes and WSJ and Bloomberg

Neel—live from the MSF—is still not feeling all of this trade warring, likening it to a game of chicken – Bloomberg

Moody’s has reached a $16.25 million deal with the SEC to resolve claims “involving incorrectly rated residential mortgage bonds and complex pools of bank loans.” Interestingly, the allegations addressed post-crisis ratings (from 2010-2016) and marked “the first time [the SEC] has punished a firm over ratings-symbol deficiencies.” Moody’s paid $864 million last year to resolve pre-crisis bond grading flaws – WSJ and Law360

Consider it a ride-along with one of the most interesting CEOs on the planet, complete with a look at all of the drama and chaos that the “brilliant but erratic billionaire” cultivates (and often seems to welcome) on a near-daily basis – NYTimes

Amidst what feels like a flood of consumer-focused privacy protections in the wake of hacking and unauthorized disclosure scandals, Yahoo is charting its own course by doubling down on a service to advertisers that “analyzes more than 200 million Yahoo Mail inboxes and the rich user data they contain, searching for clues about what products those users might buy”—a practice the rest of the industry “has largely declared . . . off limits” – WSJ

White Collar Watch considers how the recent indictment of NY congressman Chris Collins for alleged insider trading might play out against the backdrop of the Second Circuit’s revised opinion in US v. Martoma from earlier this summer – NYTimes

US Comptroller of the Currency Joseph Otting announced this week that the OCC is moving ahead [alone] with its plan to rewrite rules “for lending to lower-income neighborhoods, an effort that could allow institutions to redirect billions of dollars spent on loans and investments”—an intended overhaul of the 1977 Community Reinvestment Act. Banks loved the news while consumer groups expressed worry about the impact on local communities – WSJ

The US Senate has confirmed Pimco strategist and Columbia economist Richard Clarida as Fed Vice Chair – Bloomberg

We can quibble about certain details (the Giant Slide’s definitely not rainbow colored, and the “advanced ticket purchase” for the corn takes place 2 feet and about 10 seconds before you get your corn), but I’m generally on board with this Times Styles visit to the Fair – NYTimes

MDR

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