The Institutional Risk Analyst

Michael brings a ground level view of the brave world of new media and narrates the slow-motion consolidation of streaming as a business model for large public media companies. Our readers will recall that Michael predicted this very outcome eight years ago -- before COVID in 2017 (“The Economics of Content: Michael Whalen”).

The $30 billion target for cash raised in a GSE IPO is pathetic and only confirms our view that the Treasury should repurchase the GSE voting common and issue new preferred to raise hundreds of billions in proceeds. If we keep the US Treasury as the majority common shareholder and finance the capital structure with new senior preferred, the Trump Administration could raise $500 billion easily.

If the run-of-the-mill Republic First interest rate mark is 13.3% of assets that is not just wiping out one bank’s 8% capital but also FDIC

When will Disney decide to sell some or all of its streaming operations to keep the lights on at its theme parks?

The assumption of price volatility on the part of consumers and business managers is at the heart of inflation expectations