Author: Alton Drew

I graduated from The Florida State University with a Bachelor of Science in economics and political science (1984); a Master of Public Administration (1993); and a Juris Doctor (1999). I am a member of the Maryland Bar and practice political law. You can email me at altondrew@gmail.com.
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Law, Interbank, and Money Markets: Has LIBOR price manipulation risk been replaced by SOFR volatility risk?

Law Review: Has LIBOR price manipulation risk been replaced by SOFR volatility risk? Investopedia, a finance news website, defines a reference rate as an interest rate benchmark designed to set other interest rates. Reference rates may be found in mortgage agreements and sophisticated mortgage rate swaps. They act as benchmarks for the performance of a … Continue reading Law, Interbank, and Money Markets: Has LIBOR price manipulation risk been replaced by SOFR volatility risk?

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Law, Interbank and Money Markets News Scan: Counseling my clients to get politicians on code.

The Takeaway: Counseling my clients to get politicians on code. Yesterday, the U.S. Senate passed HR 1968, a continuing resolution to fund the government through the end of Fiscal Year 2025 but at Fiscal Year 2024 levels for most programs. The big hubba baloo in the media is over what appears to be continued weakness … Continue reading Law, Interbank and Money Markets News Scan: Counseling my clients to get politicians on code.

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Currency, Interbank, and Money Market News Scan: Trump’s conservative approach to constitutional power makes him look expansive.

The takeaway The markets and the general public are sliding down the rabbit hole of bewilderment as President Trump’s “will I tariff or will I not” approach to America’s trading partners have introduced more uncertainty to US investors. In some ways, this is the fault of investors themselves. I shed no tears for investors who … Continue reading Currency, Interbank, and Money Market News Scan: Trump’s conservative approach to constitutional power makes him look expansive.

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Currency and money market news scan: Trump wants to make it more expensive to sue government.

What We’re Reading. Executive branch. Lawsuits. Federal Rules of Civil Procedure, Rule 65(c). “Consistent with applicable law, the heads of executive departments and agencies (agencies), in consultation with the Attorney General, are directed to ensure that their respective agencies properly request under Rule 65(c) that Federal district courts require plaintiffs to post security equal to … Continue reading Currency and money market news scan: Trump wants to make it more expensive to sue government.

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Currency and money markets news scan: Will banks leave more money in their Federal Reserve bank vaults?

The takeaway: Will banks leave more money in their Federal Reserve bank vaults? Alejandro Riviera is upset today. He needs $200,000 per year in income in order to enjoy retirement with his wife, Anita, and the dog, Puff. Last week, with the two-year rate at 3.99%, Alejandro needed a portfolio of $5,012,531 to generate his … Continue reading Currency and money markets news scan: Will banks leave more money in their Federal Reserve bank vaults?

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Currency and money markets news scan: Banks can now engage in certain crypto activity. Is tariff talk getting tiring?

What we are reading: Banks. Crypto. “The U.S. regulator overseeing national banks clarified Friday that banks can engage in some crypto activities and removed expectations firms should receive advance permission from regulators before doing so. The Office of the Comptroller of the Currency said in a statement that national banks are permitted to engage in … Continue reading Currency and money markets news scan: Banks can now engage in certain crypto activity. Is tariff talk getting tiring?

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Currency and money markets news scan: Don’t get triggered by the politics. One man is not the economy.

The Takeaway: Don’t get triggered by the politics. One man is not the economy. No amount of reason is going to quiet the Trump Derangement Syndrome running rampant through the electorate of the United States. I am in the camp that the President does not have a reach extensive enough to put a negative dent … Continue reading Currency and money markets news scan: Don’t get triggered by the politics. One man is not the economy.

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Currency and money markets news scan: Massie wants to end the Fed. That is low-hanging fruit.

The takeaway: Massie wants to end the Fed. That is low-hanging fruit. The Federal Reserve again finds itself as the political football for a congressman, this time in the name of U.S. Representative Thomas Massie. The Kentucky congressman today announced the introduction of HR 1846, the Federal Reserve Board Abolition Act. The Act would abolish … Continue reading Currency and money markets news scan: Massie wants to end the Fed. That is low-hanging fruit.

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Currency and money markets news scan: Trump wants to reverse an “inflation catastrophe.”

The takeaway: Trump wants a balanced budget, but half the work is already done. 15 USC § 3101(b)(2) lists as one of the goals for economic growth a balanced budget. Specifically, the section reads: “(2) Aggregate monetary and fiscal policies alone have been unable to achieve full employment and production, increased real income, balanced growth, … Continue reading Currency and money markets news scan: Trump wants to reverse an “inflation catastrophe.”