Nice to see this posted. Understated in this is that BND also helped North Dakota avoid the worst of the mortgage crisis, and that the student loan program (combined with decent state universities) make education more affordable. As far as banks go, BND is a gem.
When I was in college, I took a number of Econ courses, and I still remember the Macro Econ professor talk about banks failing. This was in the mid 90's. He flat out said that a bank failing is something that just doesn't happen anymore. He pretty much said, you'll never see it happen. This is before they repealed the Glass-Steagall act.
I still remember the mortgage crisis unfold in disbelief that they didn't see it coming. I worked in finance at the time, and I truly realize how fragile businesses (banks, etc.) are, and our trust in a number of things is completely unfounded. We have certain protections now, but I understood at that moment why people my parent's age (born during WWII) and older didn't trust banks, etc.
I had the same feeling. I remember the first time I looked at the accounts of North Rock (covering for a colleague at a small fund manager), the first British bank to fail (and the only one to go under rather than getting a bailout) and being horrified at its reliance on interbank markets.
A lot of British banks needed bailing out, but but building societies (mutuals owned by customers, traditionally mortgage lenders but mostly full service retail banks) were fine, but big banks and at least two former building societies that had demutualised were not.
From that point of view it sounds as though Bank of North Dakota sounds like another example of different ownership structures enabling greater stability than shareholder owned big banks do.
It was the banks holding MBSs that failed. Banks always hold mortgages. With Glass Steagal the investment banks couldn't have jumped in to do the rescues.
Louis Rossmann doesn't seem to understand the FTC Act or its rulemaking authorities, especially after Loper Bright. Can't speak for Magnuson-Moss Warranty Act, but the reason behind the zero dollar penalties under Section 5 violations is because of statutory limitations.
"One also suggested we take a look at social media on its own because it’s a source of worry for many and we did not find anything special about this form of online engagement.”
It's a subset of what they studied. Surely a lot of screen time is spent on social media. They did not observe anything special about time spent on social media. A more in-depth study may yield more insight but there is no thread to pull on from this study. Only parents' misgivings.
Not sure this title and tweet is quite accurate. This was a veto of an act of congressional disapproval of an SEC rule. I’m not familiar with the underlying rule but the CRA itself might not have actually set proactive rules for firms. This wasn’t like FIT-21, where it’s a new regulatory regime.
It does not create an age verification requirement. A platform only has obligations to provide safeguards when it has knowledge that a user is 16 and under. It also provides statutory direction that it does not require further steps to infer or collect age.
The lack of 5Ghz in all their products is... surprising...
There are plenty of home users with 5Ghz only networks, which in turn means anyone designing an IoT device will get user complaints and returns from all these users.
>There are plenty of home users with 5Ghz only networks
really? is this a configuration that some ISPs are shipping in their routers, or how is this happening? i've never heard of anybody with a 5GHz only home network.
It's certainly somewhat common for more tech savvy folks to go out of their way to ensure their devices use 5Ghz when compatible.
But ISPs? Router manufaturers? No way in hell, why would they self-impose additional support burden by preventing the customer from connecting their 4-5yo old low-end laptop or their shiny new smart bulbs or their brand new Amazon Kindle?
That's an odd configuration, because having a 2.4 GHz network that all the shitty IoT devices can be on is one of the best remaining uses of that band.
2.4 is still the best choice for range and penetration (through walls etc.) if you don't need the speed of 5ghz. I'm honestly surprised if they're shipping 5ghz-only consumer access points.
> The lack of 5Ghz in all their products is... surprising...
Is it? Are there any competitors in the class have 5ghz support? Most of the radio MCUs I've seen are all 2.4ghz which includes thread/zigbee/wifi/etc.
To be fair, Espressif aren't the only ones. SiLabs announced the SiWx917 eons ago, and they finally appeared on Digi-Key like 3 weeks ago, but only in bulk, and the only dev board available is $200, and no Zephyr support, and this, and that...
Yes, but under a very deferential standard of review that makes it essentially impossible to contest any factual findings the ALJ or Board made. That’s a problem when the Board gets to decide the rules of evidence and stacks the deck in its favor.
