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.”
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.
Two government agencies spent billions on pretty pictures that AI could have made for free! Thanks to Trumpelstiltskin, we know the National Science Foundation and the Department of Energy are a waste of money and they should be defunded.
Despite Dr. Paul Armstrong’s claims to the contrary, it’s a fact that we have too much science!
I don’t agree with Scott Adams about very much politically, but having endured the side-effects of cancer treatments myself I have great empathy for what Scott is going through medically.
My vote for the most important record heard on Sixties radio wasn’t by the Beatles. The abbreviated version of ‘Light My Fire’ was a hit on AM, and the full album version broke on through to usher in the age of Underground Radio on FM.
As a child I learned about the dangers posed by a selfish, insufferable narcissist. An “injustice collector” with an uncanny knack for self-preservation to the detriment of others, who suddenly becomes incredibly powerful.
