Friday, June 21, 2024

HYPOTHETICAL WIND-DOWN

Four of the biggest banks on Wall Street must improve their blueprints for a hypothetical wind-down after top US regulators found weaknesses in their plan

Fed Faults Living Wills of BofA, Citi, Goldman and JPMorgan

  • Fed, FDIC find shortcomings in living-will plans from banks
  • Lenders must address issues in new plans due in July 2025

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Fight for The Future of AI | Report in TIME by Walter Isaacson

Elon Musk's fears about AI have led to battles with Google's Larry Page and OpenAI's Sam Altman. Walter Isaacson reports on Musk...