Author: DOuG pRATt

Welcome, Sleazy Bankers!

The Federal Reserve Board on Monday announced that reputational risk will no longer be a component of examination programs in its supervision of banks.

https://www.federalreserve.gov/newsevents/pressreleases/bcreg20250623a.htm

We’re now seeing Trump’s influence on the Fed. I predict that a year from now he’ll appoint his operative, Michelle Bowman, to replace Jay Powell. Neither of them is an economist, but Bowman’s credentials are, as Trump would put it, “very weak.”

https://www.cnbc.com/2025/06/23/fed-governor-bowman-favors-july-interest-rate-cut-if-inflation-stays-low.html

Byte Bros

Well, lookie here. Microsoft’s Mark Russinovich* arranged for a meetup between Bill Gates and Linux’s Linus Torvald, and there’s another legendary technology master, Dave Cutler. I’d say that Linus and Dave continue to be all about the tech, and Bill much less so.

* The impossibly youthful looking Russinovich has had an enviable career path. I first knew of him from his Windows Internals books. Russinovich began to independently develop a set of software utilities that he called Winternals and he published them on his Sysinternals website.

https://learn.microsoft.com/en-us/sysinternals/downloads/sysinternals-suite

Sysinternals became such an impressive endeavor that Microsoft brought Russinovich on board and he’s now the CTO of its massive cloud server network, Azure.

https://news.microsoft.com/source/2006/07/18/microsoft-acquires-winternals-software/

A few days ago I wrote about the risks of AI and the Large Language Model. Here’s Mark talking about LLM and the avoidance of Truthiness.