Week InReview

Twitter's CEO thinks Elon Musk is great at Twitter.


That's Kara Swisher interviewing Twitter CEO Jack Dorsey on Twitter. "How Elon Musk uses Twitter" includes, of course, committing securities fraud by tweeting about a fake going-private deal and ultimately paying a $20 million fine for it, but really, if you are not getting fined $20 million for your tweets, how can you call yourself an exciting influential? - Matt Levine's Money Stuff
Friday | Feb 15, 2019
INVESTORS briefings
Each week, we publish three briefings:
Monday Week InAdvance
Tuesday  | Rules & Regs
FridayWeek InReview

In addition, we publish three  "upon request" briefings...
Wednesday
LIBOR 
Cyber Security
Thursday
ESG (environmental, social, and governance)

Please contact, with name of briefing(s) you would like to receive:
Matthew Jones, executive director
mjones@association.institutionalINVESTORS.org
(202) 712-9050
in case you missed it...
While almost all economists surveyed by Bloomberg expect growth to stay positive this year - which would crown the current expansion the longest on record, at more than 10 years - the risk of a  recession  is seen at a six-year high. In fact, more than three-quarters of corporate chief financial officers expect one by the end of 2020.  (Bloomberg Economics | Feb 14)

The U.S. Treasury Department has dismissed as "flawed" a European Commission blacklist of jurisdictions, including Puerto Rico and the U.S. Virgin Islands, that the EC says aren't doing enough to fight money laundering and financing of terrorism. The Treasury says it "does not expect U.S. financial institutions to take the European Commission's list into account." (Politico | Feb 14)

Flash boys'-style speed bump planned for futures markets
Intercontinental Exchange Inc.'s (ICE) futures market wants to join the battle against the fastest traders. The Atlanta-based exchange plans a 3-millisecond trading delay, or speed bump, for its gold and silver futures contracts, according to a regulatory filing. The U.S. Commodity Futures Trading Commission on Wednesday asked for public comment on the proposal. (Bloomberg Markets | Feb 13)

Federal Housing Finance Agency nominee Mark Calabria's prepared remarks for the Senate Banking Committee steered clear of the administration's stated goal of ending the U.S. control of Fannie and Freddie. But his testimony comes on the heels of suggestions that the FHFA and the Treasury Department might act without Congress to free them. "I have most definitely expressed, and express here today, a frustration with the current state of our mortgage system and the need for reform," Calabria said in his two-page statement. "Despite that frustration, I want to very clearly state to this committee, that if confirmed, my role as director of FHFA is to carry out the clear intent of Congress, not to impose my own vision." Bloomberg Law | Feb 13)

The U.S. Office of Financial Research adopted a final rule Tuesday to establish a data collection covering centrally cleared funding transactions in the U.S. repurchase agreement (repo) market. The daily collection will enhance the ability of the Financial Stability Oversight Council (FSOC) to identify and monitor potential risks to U.S. financial stability by closing the data gap related to centrally cleared repo transactions. (OFR | Feb 12)
Binge reading disorder
Hand-curated, chosen with love
What it's like to work inside Apple's 'black site'
Contractors a few miles from the company's spaceship-like headquarters live in fear of termination - and the bathroom lines.

AIs quickly learn to collude
AI's are better than humans at Chess and Go, why shouldn't they also be better at the game of collusion?  Calvano, Calzolari, Denicol√≤ and Pastorello  show that they are.

With cocaine flowing, the push to pry generals from Maduro hits a snag
Speaking in a hauntingly calm tone, he  confessed  to treason - trying to overthrow Venezuelan President  Nicolas Maduro . The Colombians, he said, granted him free exit and entry; the Central Intelligence Agency met with him.