Local crank flooded with press requests after displaying basic understanding of check fraud 😐

NEW ODD LOTS The Booming Crypto Use Case That's Happening Right Now Tracy Alloway and I talked to Austin Campbell, prof at Columbia biz school and financial markets veteran, about the rise of stablecoins, and the genuine breakthrough that they represent bloomberg.com/news/articles/…

📢📢NEW WORKING PAPER📢📢 Joshua Macey, Jeff Zhang, and I explore the tradeoffs between stability, access, and investment in the design of payment networks + the implications for the US payment system, the global correspondent banking system, and crypto: papers.ssrn.com/sol3/papers.cf…

Hey wannabe legal academics: Get those applications in now for the Columbia Law School Academic Fellows program! We consider candidates on a rolling basis, and the portal is open. Ask around about the program's track record....or just check out this list: law.columbia.edu/academic-fello…

NEWS: The Justice Dept is overhauling its review of bank mergers, Jonathan Kanter, the agency’s top antitrust cop, tells me. Focus on branch overlap and deposits ignores the rise of fintech, private equity, etc. New rules could come as soon as tomorrow. semafor.com/article/09/16/…

NEW PIECE: The first of many revealing the biggest secrets buried in the 30,000 pages of Federal Reserve Board (not FOMC) minutes I got through FOIA. This one is on the Fed's secret plan to bailout the Saving & Loan industry in 1973 (which was an inch from happening!)

ICYMI our Friday Q and A: Assessing the Biden administration's FinReg record with Kate Judge . A lost opportunity? capitolaccountdc.com/p/assessing-bi…

Excited for tomorrow's release of the Olin Commission on small and family owned business transition. Come watch us discuss the findings live The Brookings Institution events.olin.wustl.edu/en/f419Ue6/mai…

In Beyond Banks, Dan Awrey sheds critical light on the important but too often dysfunctional relationship among technology, regulation, and money. Out October 22. Learn more: hubs.ly/Q02QY6cM0 #Banking #EconTwitter

In Beyond Banks, Dan Awrey explains how new technology is rapidly changing the nature of money and the way we pay. Out now. Learn more about this pathbreaking book: hubs.ly/Q02TSscC0 #Banking #EconTwitter

Under what legal authority can the Federal Reserve refuse to tell Congress how much money has gone through #FedNow? Or is the Fed so scared of the truth that it would rather break the law... fetterman.senate.gov/wp-content/upl…

“The tensions within the [crypto] industry have been beneath the surface for a while” thanks to a common enemy. Now, divisions could start to emerge. -Jonah Crane

Santa did great this year. High information/page-count ratio, and Dan Awrey is incredibly lucid. What he calls Gresham's New Law—but I suggest we call Awrey's Law—that we value "good payments" in financial peacetime, but "good money" in crisis-time, is essential policy insight.

#Book Review: “good money” vs “good payment” “Beyond Banks” by Dan Awrey Technology, Regulation, and the Future of Money, Princeton University Press 07 Jan 2025, UK. acemaxxanalytics.substack.com/p/beyond-banks

I like to think that my forthcoming book, King Dollar, is pretty good, but it would have been lots better if I had been able to incorporate the superb wisdom and insights from Dan Awrey’s book, which came out just as mine was already in galleys and impossible to change.

The CDFI Fund is one of the most successful programs at getting affordable capital to small businesses and parts of our economy not well served by the existing financial system, like Indian Country. A colossal mistake to shut it down.

A safe, sound and fair fintech business model has a place in today’s federal banking system. Read more at occ.gov/news-issuances…

This may take the prize for the most timely law review note in history harvardlawreview.org/print/vol-138/…

I really like this pairing Jason Mikula!