“Colorblindness”: It’s Heartbreaking when Black Children Have to Plead for the Lives of their Parents; Supreme Court Cases, Graham v. Connor and Tennessee v. Garner Need to be Revisited

Human life is ultimately a intricate network. Tragic deaths as a result of police involved shootings, just like any other murders, causes significant damage to a family. Because of the unique nature of police-involved shootings however, where the person killing has the authority of the state to kill and bears little to no responsibility, the pain of loss is magnified exponentially.

In Charlotte, North Carolina, at a city council meeting, a nine-year old, Zianna Oliphant, begs the council members to protect the lives of the black parents (and ultimately of all black people).

It is a poignant statement. A statement no minor child should ever have to make.

Federal Reserve Board: H.2 Release for Week Ending September 17, 2016; H.4.1 Release (Balance Sheet) for Week Ending September 22, 2016

The Federal Reserve Board (Board) publishes a weekly digest of its activities on its website. The digest is called the H.2 Release and is published every Thursday. The release for the week ending September 17, 2016, is below.

H.2 Release–Actions of the Board, Its Staff, and the Federal Reserve Banks; Applications and Reports Received

Category Action Taken
Personnel Division of Banking Supervision and Regulation — appointment of Susan Motyka as assistant director.

-Announced, September 13, 2016

Division of Research and Statistics — appointment of Jeffrey Campione as deputy director; Joshua Gallin as senior associate director; Timothy Mullen and Steve Sharpe as deputy associate directors; Elizabeth Kiser, Stacey Tevlin, and John Stevens as associate directors; Burcu Duygan-Bump, Lil Shewmaker, and Song Han as assistant directors; and Eric Engstrom as adviser for both the Division of Research and Statistics and the Division of Monetary Affairs.

-Announced, September 13, 2016

Enforcement Anchor Commercial Bank, Juno Beach, Florida — written agreement dated March 16, 2010, terminated September 8, 2016.

-Announced, September 13, 2016

Bridgeview Bancorp, Inc., Bridgeview, Illinois — written agreement dated February 18, 2011, terminated September 7, 2016.

-Announced, September 13, 2016

Calvert Financial Corporation, Ashland, Missouri, and Mainstreet Bank — written agreement dated June 5, 2012, terminated September 7, 2016.

-Announced, September 13, 2016

 

Federal Reserve Board: Balance Sheet (H.4.1 Release)

The Board publishes data of factors affecting reserve balances. The digest is called the H.4.1 Release, and they are published every Thursday (or the next business day if the publication date falls on a federal holiday). The release for September 22, 2016, is below.

[Note: The blog will cover the line titled “Total Factors Supplying Reserve Funds.”]

H.4.1 Release–Factors Affecting Reserve Balances

Total factors supplying reserve funds (as of September 21, 2016):  $4,518,892 (in millions of dollars). (On September 26, 2007, this amount was $900,473 (in millions of dollars)).

(See the release for further information.)

The Futility of “Colorblindness”: GOP Representative Robert Pittenger’s Comments On BBC Program Expressed True Belief of Republicans Against Black People and the Vulnerable Members of U.S. Society

The Republican party (GOP) has an authoritarian backbone: The party worships the rich, like GOP nominee for U.S. President, Donald J. Trump (who received $885 million in real estate-related tax breaks), and disparages the vulnerable (otherwise known as the 99%).

The focus of GOP action is the removal of President Lyndon Baines Johnson’s programs to assist the vulnerable (and give all support to the 1% (who provide “campaign contributions”). In addition, the government bailed out the financial industry after the 2008 financial crisis. One result of that is that the Federal Reserve Board has a balance sheet of $4.5 trillion (as of the date of this post).

Representative Paul Ryan delivered his belief in blaming the poor. Given his Irish ancestry, a New York Times columnist, Timothy Egan, reminded Ryan that the English had the same idea toward his ancestors in Ireland.

In North Carolina, there has been another police-involved shooting, which has left a citizen dead. While the officer is black, the situation is the same all previous police-involved shootings where the officer involved claims his life was in danger and the authorities sanction the resultant killing as justified (under Tennessee v. Garner and Graham v. Connor).

With this situation as background, a North Carolina GOP member of the U.S. House of Representatives, Robert Pittenger (under investigation by the FBI and the IRS), had an interview of BBC’s Newsnight program, with the BBC’s James O’Brien. During the interview, Mr. Pittenger saw fit to disparage the protestors as

  • not following the example of the late Reverend Dr. Martin Luther King (who was assassinated) and
  • haters of white people because of their presumed success.

His critique was framed by the GOP’s continued disparagement of the vulnerable members of society, just like Ryan and the rest of the GOP. Mr. Pittenger simply ignored all of the history and ill effects of policies based on “colorblind” white hegemony.

His subsequent explanations do not alter his (or the GOP’s) beliefs that he expressed openly during the BBC interview.

Unsurprisingly, also in the BBC interview, Mr. Pittenger refused to apply the example of Rev. King’s actions (which he applied to protestors) to the present-day campaign of Donald J. Trump who has insulted many groups in his statements.

Federal Reserve Board: H.2 Release for Week Ending September 10, 2016; H.4.1 Release (Balance Sheet) for Week Ending September 15, 2016

The Federal Reserve Board (Board) publishes a weekly digest of its activities on its website. The digest is called the H.2 Release and is published every Thursday. The release for the week ending September 10, 2016, is below.

H.2 Release–Actions of the Board, Its Staff, and the Federal Reserve Banks; Applications and Reports Received

Category Action Taken
Personnel Division of Consumer and Community Affairs — appointment of V. Nicole Bynum as deputy director.

-Approved, August 31, 2016

(A/C)

Regulations and Policies Activities and Investments of Banking Entities — interagency report, with recommendations, to Congress and the Financial Stability Oversight Council concerning activities and investments of supervised banking entities, in accordance with the Dodd-Frank Act.

-Announced, September 8, 2016

Countercyclical Capital Buffer — final policy statement describing the framework the Board will follow in setting the countercyclical capital buffer for U.S.-based credit exposures.

-Approved, September 6, 2016

 

Enforcement FirstFed Bancorp, Inc. Employee Stock Ownership Plan, Bessemer, Alabama, and FirstFed Bancorp, Inc. — written agreement dated June 27, 2011, terminated September 1, 2016.

-Announced, September 6, 2016

 

Federal Reserve Board: Balance Sheet (H.4.1 Release)

The Board publishes data of factors affecting reserve balances. The digest is called the H.4.1 Release, and they are published every Thursday (or the next business day if the publication date falls on a federal holiday). The release for September 15, 2016, is below.

[Note: The blog will cover the line titled “Total Factors Supplying Reserve Funds.”]

H.4.1 Release–Factors Affecting Reserve Balances

Total factors supplying reserve funds (as of September 14, 2016):  $4,527,086 (in millions of dollars). (On September 26, 2007, this amount was $900,473 (in millions of dollars)).

(See the release for further information.)

Federal Reserve Board: H.2 Release for Week Ending September 3, 2016; H.4.1 Release (Balance Sheet) for Week Ending September 8, 2016

The Federal Reserve Board (Board) publishes a weekly digest of its activities on its website. The digest is called the H.2 Release and is published every Thursday. The release for the week ending September 3, 2016, is below.

H.2 Release–Actions of the Board, Its Staff, and the Federal Reserve Banks; Applications and Reports Received

Category Action Taken
Forms Forms — final Board review to extend with revision the Consolidated Financial Statements for Holding Companies (FR Y-9C) and to extend without revision the other forms that make up the family of FR Y-9 reports (FR Y-9LP, FR Y-9SP, FR Y-9ES, and FR Y-9CS).

-Approved, August 31, 2016

 

 

Personnel Division of Banking Supervision and Regulation — appointment of Catherine Tilford as assistant director.

-Approved, September 1, 2016

 

 

Enforcement Barclays Bank PLC, London, United Kingdom — issuance of a notice of intent to prohibit and notice of assessment of a civil money penalty against Christopher Ashton, a former institution-affiliated party.

-Announced, August 29, 2016

 

North State Bancshares, Inc., Shakopee, Minnesota — written agreement dated July 26, 2010, terminated August 29, 2016.

-Announced, September 1, 2016

 

 

Federal Reserve Board: Balance Sheet (H.4.1 Release)

The Board publishes data of factors affecting reserve balances. The digest is called the H.4.1 Release, and they are published every Thursday (or the next business day if the publication date falls on a federal holiday). The release for September 8, 2016, is below.

[Note: The blog will cover the line titled “Total Factors Supplying Reserve Funds.”]

H.4.1 Release–Factors Affecting Reserve Balances

Total factors supplying reserve funds (as of September 7, 2016):  $4,504,896 (in millions of dollars). (On September 26, 2007, this amount was $900,473 (in millions of dollars)).

(See the release for further information.)

Long-Term Unemployment: Some Economists Discourage the Unemployed, Ignore, and Add to, Pain of Unemployment

Overall, the notion of relying on wealthy Ph.D. economists to be the go-to figure on every social activity must end. Economics is a narrow field; noise expansion leads the profession to unacceptable error and failure.


(Related: The New York Times reported on the influence of think-tank monetary donors over papers the think tanks publish.)


The economics profession fails in the area of unemployment. Statistics and Calculus cannot explain the process of a person seeking and getting a job. Specifically, a job seeker submits materials to a person seeking workers for jobs in order to convince the employer to pick that particular person. The process is precise and unique: There is a job announcement, software to organize the job applications, and then a person (on behalf of the employer) to read the applications and decide on whom to interview and ultimately select. The process is essentially two sided (job seekers and employers).

This reality has not stopped economists from writing papers that demean the people experiencing unemployment. In studies throughout the period of the Great Recession, and its still ongoing and devastating aftermath, economist’s papers have stated that after 26+ weeks of unemployment (long-term unemployment), a person’s skills erode, the person loses connections to the workforce, or that too much compassion for the unemployed mucks up the “true state of the economy” (!).


(Note: A paper of the Urban Institute has pointed out that papers dealing with long-term unemployment often specify negative outcomes that supposedly occur with unemployment, which are not supported by direct evidence. I have written on this topic previously in this blog.)


This offensive conduct from these economists must end, especially since economists rarely cite the financial interests that may be paying for the paper and the assertions contained within those documents. Never again can mere economist assertions/guesses/hunches/bias be blindly accepted without direct proof.

Even more, the morale of those human beings that are unemployed (who struggle to restart their income by finding work) is damaged by such economist’s papers (as cited in this post), adding further obstacles and negativity to an already solitary, exhausting, and pressure-filled task.

Federal Reserve Board: H.2 Release for Week Ending August 27, 2016; H.4.1 Release (Balance Sheet) for Week Ending September 1, 2016

The Federal Reserve Board (Board) publishes a weekly digest of its activities on its website. The digest is called the H.2 Release and is published every Thursday. The release for the week ending August 27, 2016, is below.

H.2 Release–Actions of the Board, Its Staff, and the Federal Reserve Banks; Applications and Reports Received

Category Action Taken
Regulations and Policies Financial Market Infrastructures — publication of notice adopting the supervisory rating system for financial market infrastructures subject to Federal Reserve supervision.

-Approved, August 22, 2016

 

Enforcement Central State Bank (now CBI Bank & Trust), Muscatine, Iowa — issuance of a cease and desist order and assessment of a civil money penalty upon the consent of Christopher Watkins, a former institution-affiliated party.

-Announced, August 23, 2016

 

Cornerstone Bank, Overland Park, Kansas — written agreement dated January 14, 2010, terminated August 22, 2016.

-Announced, August 25, 2016

 

Orient Bancorporation, San Francisco, California, and Bank of the Orient — written agreement dated November 16, 2010, terminated August 18, 2016.

-Announced, August 23, 2016

 

Federal Reserve Board: Balance Sheet (H.4.1 Release)

The Board publishes data of factors affecting reserve balances. The digest is called the H.4.1 Release, and they are published every Thursday (or the next business day if the publication date falls on a federal holiday). The release for September 1, 2016, is below.

[Note: The blog will cover the line titled “Total Factors Supplying Reserve Funds.”]

H.4.1 Release–Factors Affecting Reserve Balances

Total factors supplying reserve funds (as of August 31, 2016):  $4,502,667 (in millions of dollars). (On September 26, 2007, this amount was $900,473 (in millions of dollars)).

(See the release for further information.)