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drewg__'s profile
drew
drew
drew
@drewg__

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drew

@drewg__

electronic trading technologist, illiquid commodity futures enthusiast, hedge fund/HFT apologist, big idiot

NYC
Joined April 2009

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    1. drew‏ @drewg__ Aug 24

      drew Retweeted The Verge

      im starting to think the CEO is an incompetent? the obvious solution here is to email the heads of TMT IB for every bank they work with and say "first to unfuck this for us gets the most lucrative tech IPO of the quarter" and watch the situation resolve itself in <2 wkshttps://twitter.com/verge/status/1430181951428780044 …

      drew added,

      The VergeVerified account @verge
      OnlyFans CEO on why it banned adult content: "the short answer is banks" https://www.theverge.com/2021/8/24/22639356/onlyfans-ceo-tim-stokely-sexually-explicit-content-ban-banks?utm_campaign=theverge&utm_content=chorus&utm_medium=social&utm_source=twitter … pic.twitter.com/zBFGfJT6pY
      18 replies 32 retweets 395 likes
      Show this thread
    2. Chow 🥂‏ @chow_global Aug 24
      Replying to @drewg__

      @dsquareddigest this is your bailiwick lol

      1 reply 0 retweets 1 like
    3. Dan Davies‏ @dsquareddigest Aug 24
      Replying to @chow_global @drewg__

      There's no IPO here; and why would they want one, it's a cash generative business. Somebody wants to be in the porn industry, but also to have a stock market quote, and to find someone else to do the extremely tricky job of SESTA compliance for them for free. Tough luck Skippy...

      2 replies 1 retweet 9 likes
    4. Dan Davies‏ @dsquareddigest Aug 24
      Replying to @dsquareddigest @chow_global @drewg__

      ... the fact of the matter is that US congress wants to ban this site, but knows it can't because of the first amendment, so they are using the banks as leverage. Not wonderful democratic but they've hardly made a secret of the fact...

      1 reply 0 retweets 5 likes
    5. Dan Davies‏ @dsquareddigest Aug 24
      Replying to @dsquareddigest @chow_global @drewg__

      ...all OF really needs to do is get an offshore bank, gulp on the processing fees and geoblock US customers. But of course it doesn't want to do that because it wants the big US payday. As I said tough luck Skippy.

      2 replies 0 retweets 8 likes
    6. drew‏ @drewg__ Aug 24
      Replying to @dsquareddigest @chow_global

      drew Retweeted drew

      https://twitter.com/drewg__/status/1430223787434430469?s=20 …

      drew added,

      drew @drewg__
      Replying to @AnalystDC
      even prior to FOSTA the bank secrecy act required banks to report suspicious activity to FinCEN, nothing changed in that regard. the degree to which banks regard their clients business as suspicious is a risk assessment they make internally, its not a fait accompli
      1 reply 0 retweets 1 like
    7. Chow 🥂‏ @chow_global Aug 24
      Replying to @drewg__ @dsquareddigest

      it's interesting that a lot of recent controversies (Meng Wanzhou, OnlyFans, etc.) all hinge on the culpability of banks for essentially internalizing the cop function for suspicious activities lol

      2 replies 0 retweets 2 likes
      drew‏ @drewg__ Aug 24
      Replying to @chow_global @dsquareddigest

      yeah, the bank secrecy act effectively deputizes banks as agents of federal law enforcement, but like i said, the degree to which this actually takes place differs from bank to bank and is a function of how much risk the bank wants to bear for any possible legal liability

      11:20 AM - 24 Aug 2021
      • 3 Likes
      • Dan Davies Chow🥂
      1 reply 0 retweets 3 likes
        1. New conversation
        2. Chow 🥂‏ @chow_global Aug 24
          Replying to @drewg__ @dsquareddigest

          and HSBC is finding that being stuck between US and Chinese sovereigns is very uncomfortable and perhaps it should not be too eager beaver

          1 reply 0 retweets 2 likes
        3. Chow 🥂‏ @chow_global Aug 24
          Replying to @chow_global @drewg__ @dsquareddigest

          (btw the substantive way HSBC is dealing with this is by *selling off the entire consumer business in the US*, clearly signalling where their loyalties lie lol)

          0 replies 0 retweets 2 likes
        4. End of conversation

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