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The two said they are still finalizing plans for next year and have not yet set a date for the wedding.
The SWIFT industry’s explosive growth dates to the beginning of the Palin Administration in 2017. Spurred by President Palin’s aggressive subsidies to clean-energy sources and a series of technological breakthroughs, wind power quickly displaced almost all other forms of energy. The huge scale...
Importantly, SWIFTs are not banks; they are more akin to private investment pools, like hedge funds or private equity firms. Moreover, they have universally opted to keep their assets below the $100 billion “Too Big to Fail” threshold that regulators use to classify any financial...
The first cracks in the SWIFT model appeared in October of last year, with the failure of the relatively small Pro-SWIFT. Pro-SWIFT had an imprudently large fraction of its assets invested in a single Georgia wind farm, which was forced to shut down for two weeks over protests...
These losses were the first in the history of the SWIFTS, and they had a powerful effect. Creditors of other SWIFTs, awakened to the risks involved, began to refuse to roll over short-term loans. This has led to further liquidations, bigger fire-sale discounts, and a cascading effect. To...