Cate Long

@Terpin8or WaPo thinks that's unique to Trump? Pretty naive (or maybe just TDS)

@cate_long They aren't views. His last term, WaPo fact checked every word he said and he lied so much they stopped bothering this term washingtonpost.com/video/politics…

Dealmaker-in-Chief says he will allow Middle East countries to swap the 20% tariff they would pay the US for their ships to transit the Strait of Hormuz for direct investments into US factories and projects.

@2waytvapp no YouTube broadcast?

382,000+ active and retired law enforcement officers across all branches and levels of government are urging the Senate to confirm @DAGToddBlanche as Attorney General. "We believe Mr. Blanche’s leadership will help ensure that the Department of Justice remains focused on public safety, the rule of law and providing unwavering support for the law enforcement professionals who risk their lives daily to protect our families and communities."

Justice Kagan: "The entire Court wants to send its condolences to Senator Graham's family and all his colleagues and friends in the Senate and elsewhere...There is a great deal of affection throughout the entire Court for Senator Graham. A great deal of affection and respect."

@Terpin8or You're free to have those views in a democracy.

@cate_long I just don't believe his lies and stupidity. Governors in San Juan utter less lies and nonsense in a 4 year term than Trump does in a month.

@Terpin8or Trump 2.0 must be hell for you.

@cate_long He is so full of shit........

Confirm @DAGToddBlanche: “Under Todd Blanche's leadership, the Department of Justice has advanced President Trump’s core priorities with clarity and resolve: confronting illegal immigration and dismantling the transnational criminal organizations that exploit our borders; combating the fentanyl crisis and violent crime that devastate American communities; and protecting taxpayers through aggressive fraud enforcement.”

PR OBoard is slow walking discovery for Prepa accounting claim adversary. T3 court ordered the parties to explain what categories were used to classify costs (opex vs capex etc) because the trust agreement & BK code section 928 allows opex before debt service #muniland Bondholders want documents from @KPMG (PR's auditor) from 2018 & KPMG agreed to provide them but the OBoard wants to review them for *privilege* (I'm unclear how 8 year old accounting records are privileged). The OBoard has succeeded in pushing release of the KPMG documents up to the discovery completion deadline potentially barring bondholders from taking additional KPMG employee dispositions about how expenses were classified. [My guess is that bondholders want to show how expenses have been classified historically to contrast with the OBoard's experts deciding how they think expenses should be classified 8 years after the fact.] drive.google.com/file/d/1Sjh_zr…

@Richard_Casey @SCMPNews China would never use yuan as a weapon...

Berkeley academic speaking at Chinese university conference warns of dedollarization. Yuan and Euro could benefit from stronger fiscal, central bank independence, less threat of weaponization 🙄 sc.mp/nbo92?utm_sour… via @scmpnews

It turns out Puerto Rico's auditor, KPMG, signed off on their fiscal year 2023 audited financials for the Commonwealth (central govt) on July 3 but it's not posted on EMMA either. KPMG says Prepa and the University of PR have going concern issues #muniland Notably the central govt had a $44 billion net deficit in FY23 post central government restructuring (which just shows you that throwing around scary accounting figures is not the full picture). hacienda.pr.gov/sites/default/…

@noalpha_allbeta The whole process with Puerto Rico has been a giant disaster.

@cate_long That’s three years old…. I can only imagine the fraud. Fed govt should stop all money going there pronto. We can focus on Cuba instead.

Puerto Rico OBoard asserts that Prepa has completed their FY 2023 audited financials. Can someone explain why it hasn't been filed with the MSRB as required by law? #muniland Some of the OBoard statements to the court appear to be misrepresentations but it's difficult to confirm since the document is not public (note a local PR media outlet wrote a story about the audited financials last week but I asssumed they were mistaken on the fiscal year covered because the document was not public).

@jakenelwood3 Maybe Chinese CRE lending was just a jobs program?

@cate_long China doesn't seem to concern itself much [yet] with stupid lending policies. Certainly creates some peculiar real estate practices. Time will tell. 5/

Digital Innovation and Operational Resilience in the Repo Market (from pg 9 of the slides) ~~ This is the plumbing of the entire global financial system.

@jakenelwood3 do you follow @FCNightingale? A parade of CRE horribles.

@cate_long Thus a ~3 - 4% t-bond rise = about a 50% drop in value. Many of these CRE disaster stories are right on that mark. The missing 50% comes from owner equity, and lenders who feel pissy. 2/

@jakenelwood3 Bailouts blunted the pain.

@cate_long All of this was on the pre-2008/ZIRP real estate finance final exam. ZIRP taught money was free and risk was gone. 'Twasn't so as things turned out. Facinating to watch from the sidelines. 3/

@NWStulsa "When thunder roars, go indoors."

[2:02 PM - 7/13/26] Scattered showers and thunderstorms will continue this afternoon & early evening across portions of E OK and W-Central AR. Storms may produce locally strong wind gusts, dangerous cloud-to-ground lightning, and heavy rainfall. #okwx #arwx

"The study released Monday by the @cbcny showed [New York] State’s share of the nation’s millionaires dipped from 12.7% to 8.7% between 2010 and 2022 – the largest decline of any state." That equals a loss of about $11 billion a year in tax revenues #muniland

@willrayvalentin You silly thing.

Trumps Iran hands last week vs this week