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The ‘War Games’ problem: Computer science has long understood what it takes to keep AI under control
AI agents don’t go rogue. That’s something only humans do. Nevertheless, a New York Times article – representative of much news coverage of AI – described an OpenAI hacking as “A.I. bots going rogue and independently spearheading a cyberattack.” Name-brand artificial intelligence agents have been on a hacking spree in…
Candidates to field questions at San Joaquin Delta College forum on Tuesday
The forum will be held from 6 p.m. to 8 p.m. in the college’s Dawn Mabalon Forum. It is free and open to the public.
California scientist wins a Nobel Prize, then makes school lunches for his kids
STANFORD, California (AP) — Dr. Karl Deisseroth spent hours fielding congratulatory calls after learning early Monday that he had won a Nobel Prize for medicine for helping to open a new field of brain science called optogenetics.
California scientist wins a Nobel Prize, then makes school lunches for his kids
Dr. Karl Deisseroth spent hours fielding congratulatory calls after learning that he had won a Nobel Prize for medicine for helping to open a new field of brain science called optogenetics.
Lakers at Kings: What to Watch
Two available starting spots, Walker Kessler’s debut and the Lakers’ bench production headline Monday’s preseason opener in Sacramento.
Your ballot, your move: Early voting starts Oct. 6
By Kevin Hendricks, nm.news — New Mexico voters can start casting ballots Oct. 6 for the Nov. 3 general election. There’s no reason to wait in line on Election Day, or to walk into the booth guessing. Early voting opens Oct. 6 at county clerk offices. On Oct. 17 it expands to more locations across […]
Now Open! APSA Teaching & Learning Conference Awards and Travel Grants | Deadline: November 16, 2026 -
Now Open! Apply for TLC Travel Grants & Awards Michael Brintnall Teaching and Learning Award APSA Award for Teaching Innovation | Travel Grants Deadline: November 16, 2026, 11:59PM ET Join political science teacher-scholars and students [...]
Now Open! APSA Teaching & Learning Conference Awards and Travel Grants | Deadline: November 16, 2026 -
Now Open! Apply for TLC Travel Grants & Awards Michael Brintnall Teaching and Learning Award APSA Award for Teaching Innovation | Travel Grants Deadline: November 16, 2026, 11:59PM ET Join political science teacher-scholars and students [...]
Enabling, Denying, and Spiking the Proverbial Political Football
ANDOVER TOWNSHIP – Republicans are claiming victory over a proposed data center. But it really isn’t that simple. As one critical observer noted on a Stop Andover Data Center social media page: It was the all-Republican township committee that “opened the door (to a data center) in the first place.” This is a local issue to be sure,[...]
Small Business Report
Provided by Prince William County Development Services In August, 19 small business owners received a certificate of occupancy or written authorization to ‘Open for Business’ from Prince William County DepartmentRead More
St. Louis Prehistoric Life Show brings free fossil fun to the Science Center
The inaugural St. Louis Prehistoric Life Show invites families to crack open rocks, identify fossils, meet paleontologists, and more.
Lamar Jackson sends 1-word message over ankle injury status
Lamar Jackson injury update: The Baltimore Ravens quarterback is opening up about the injury he sustained in Week 4.
Richie Floyd: Bernie’s 2016 Campaign Changed My Life
In 2021, Richie Floyd was elected to the St Petersburg City Council, becoming the first openly socialist elected official in Florida in over a century. Writing in Jacobin, Floyd explains how Bernie’s ...
Mystery Hill launches first after dark experience
BLOWING ROCK — Mystery Hill, home of North Carolina’s only Natural Gravitational Anomaly, will remain open after sunset this fall for Mystery Hill After Dark, a new evening event series
After school programming, birthday parties and day camps at Brooklyn Science Spot in Carroll Gardens (sponsored) | Brooklyn Bridge Parents - News, Events and Family Services
Brooklyn families, get ready for a fall experience that goes beyond worksheets, screen time, and ordinary after-school programs and camps. At Brooklyn Science Spot, we are opening the door to a whole new way for children to learn, explore, and fall in love with science through hands-on discovery, creative thinking, and real-world STEM fun. Opening
Review: Metallica lives the dream on opening weekend of Sphere residency
LAS VEGAS — “I had a dream last night,” Metallica singer James Hetfield said. “We were playing the Sphere. “So cool.” Indeed, it was, James. Yet, it wasn’t a dream.
Seahawks vs. 49ers odds: Opening lines for Week 5 matchup
The Seahawks are slight favorites against the undefeated 49ers.
Jamie Foxx opens up 3 years after health scare, talks new standup special
Actor, comedian and singer Jamie Foxx opens up to ABC News three years after a health scare nearly ended his life.
Muchacho comes to Decatur; Kelly’s Market under new ownership
Muchacho, a West Coast-style taco shop with locations in Atlanta, plans to open its third spot in Decatur. The city will consider its alcohol license on Oct. 5, after police approval.
Davids Fights Washington Healthcare Cuts with Plan to Lower Costs, Protect Kansas Hospitals
WASHINGTON, D.C. — Today, U.S. Representative Sharice Davids (KS-03) introduced a comprehensive package of healthcare legislation that directly counters Washington’s recent healthcare rollbacks, which are increasing monthly costs and closing rural hospitals. Davids’ efforts would protect Kansas families from rising medical costs, block new federal red tape, and keep local hospitals and health clinics open.
Spurs' Harris questionable for regular-season opener after straining left calf
The 6-foot-8 power forward will be reevaluated following the team’s five-game preseason schedule.
An open-source tool lets you delete 12GB of Apple Intelligence data on macOS
Delete Apple’s AI with a single command.
Lumos offers family entertainment at Valley Ranch Town Center in New Caney
Greg and Brigette Little opened Lumos, a 45,000-square-foot entertainment venue with laser tag, bowling and Embers Grill, at Valley Ranch Town Center.
German and US scientists win Nobel medicine prize for work on light and brain
The physiology or medicine prize traditionally opens the annual Nobel announcements.
oasisVRX Expands to the Princeton Area With New Active Entertainment Virtual Reality Destination
/PRNewswire/ -- oasisVRX is expanding with the opening of its second location at Princeton North Shopping Center, 1225 Route 206 in Princeton, New Jersey....
Cal-Maine cracks open new growth opportunities
Earnings plunge amid low egg prices and investments in prepared foods.
October 2026: Open Enrollment Starts Today
The 2027 insurance open enrollment is October 5-30, 2026. Changes made during this period will take effect January 1, 2027.
BBQ Chris opens CC&B Kitchen, new 24/7 baseball & softball facility, and more Quad-Cities business news
BBQ Chris opens CC&B Kitchen, new 24/7 baseball & softball facility, and more Quad-Cities business news.
‘An anchor’: Oakshire fans celebrate, grieve as business prepares to shut down
Oakshire Public House has been a gathering space in the Whiteaker neighborhood since 2013 and holds many individual and community memories. Oakshire as a company is closing, but it plans to transition the Public House to a new company in the next two months, keeping the location open through the process.
Mac Users Reclaim Storage With New Apple Intelligence Removal Tool
A new open-source tool is making waves in the Mac community by helping users reclaim valuable storage space taken up by Apple's AI models. Called "RemoveMacAI," the tool disables Apple Intelligence on macOS 27, removes its downloaded models, and prevents them from being downloaded again. In macOS 27, Apple removed the toggle to disable Apple Intelligence wholesale, and simply disabling individual features doesn't remove the models from your Mac's drive.
Providence Opens New Rural Health Clinic in Polson
Just over a year after breaking ground on a rural health clinic in Polson, community members, donors and hospital staff gathered Sept. 30 in front of the new building just behind Providence St. Joseph Medical Center. “Over the years we’ve heard about this need over and over again,” Chief Executive for Providence Montana Krissy Petersen […]
Lions vs. Cardinals odds: Opening lines for Week 5 matchup
Checking in on the opening betting odds for the Week 5 matchup between the Detroit Lions and the Arizona Cardinals.
Jaguars vs. Eagles odds: Opening lines for Week 5 matchup
Sportsbooks project the Jaguars to beat the Eagles next week!
Cybersecurity portal to fight bad guys open for business: NMFTA
The NMFTA has launched its threat portal, where targets of successful and unsuccessful cyberattacks can share their stories.
Business Roundup: Latham Aldi sets opening date, women-only gym expands into Slingerlands
Here's what's new in the Capital Region business scene.
Look at OpenAI and Anthropic executives' political donations
One AI tech executive’s $25 million gift to a Trump PAC stands out among donations of other top execs.
'Clearly not working': Sam Altman hits AI industry over political spending
In a wide-ranging interview, the OpenAI CEO criticized the flood of AI dollars swamping the midterm elections and suggested a new liability framework is needed for autonomous hacks.
‘Clearly not working’: Sam Altman hits AI industry over political spending
In a wide-ranging interview, the OpenAI CEO criticized the flood of AI dollars swamping the midterm elections and suggested a new liability framework is needed for autonomous hacks.
Jobs in health care. Jobs for women. The US labour market is segmenting. Chernobyl’s radiation and Lenin’s love of literature.
Thank you for opening your Chartbook email. Elmer Bischoff, Two Figures at the Seashore, 1957 The only really dynamic job-creator in the US economy is health care: The largest crunch has come in Federal government, which has shed 2.7 m jobs. Source: tchouvkov on Twitter Tech is struggling. [ Joey Politano 🏳️🌈@JosephPolitano The US tech sector continues bleeding jobs in official data released today—overall, employment decreased by 17k last month and is down 69k over the last year That's nearly as bad as the worst of the 2024 tech-cession, and much worse than the 2022 boom or even pre-2020 norms 12:42 PM · Oct 2, 2026 · 15.2K Views 15 Replies · 47 Reposts · 390 Likes ](https://x.com/JosephPolitano/status/2106001807847940232?s=20) The new jobs are all for women. [ Justin Wolfers@JustinWolfers I'm not sure who saw this coming, but so far nearly all the jobs created during the second Trump administration have gone to women. 1:09 PM · Oct 2, 2026 · 33K Views 70 Replies · 146 Reposts · 644 Likes ](https://x.com/JustinWolfers/status/2106008723533533601?s=20) Meanwhile, real wages are being eaten up by modest over-target inflation. [ Heather Long@byHeatherLong The financial pain is real: Wage growth fell to 3% (y/y) in September. That's the lowest in 5 years. Wage growth: 3% Inflation: ~3.4% Inflation has eaten up all wage gains for the average worker since April. Many people are having to make hard choices about what to buy and what … 1:24 PM · Oct 2, 2026 · 37K Views 24 Replies · 275 Reposts · 533 Likes ](https://x.com/byHeatherLong/status/2106012367712620728?s=20) HEY READERS, THANK YOU for opening the Chartbook email. I hope it brightens your day. I enjoy putting out the newsletter, but tbh, what keeps this flow going is the generosity of those readers who clicked the subscription button. If you are persuaded to click, please consider the annual subscription of $60. It is both better value for you and a much better deal for me, as it involves only one credit card charge. Why feed the payments companies if we don’t have to. Subscribe Elmer Bischoff, Bathers, 1960 Americans are disillusioned with higher ed. For contributing subscribers only. Subscribe Where the Chernobyl radiation went. h/t Simon Kuestenmacher aka simongerman600 How Lenin’s love of literature shaped the Russian Revolution - Tariq Ali This, then, was the intellectual atmosphere in which Lenin came of age. His father, a highly cultured conservative, was the chief inspector of schools in his region and much respected as an educationalist. At home, Shakespeare, Goethe and Pushkin, among others, were read aloud on Sunday afternoons. It was impossible for the Ulyanov family – “Lenin” was a pseudonym adopted to outwit the tsarist secret police – to escape high culture. At high school, Lenin fell in love with Latin. His headteacher had high hopes that he might become a philologist and Latin scholar. History willed otherwise, but Lenin’s passion for Latin, and taste for the classics, never left him. He read Virgil, Ovid, Horace and Juvenal in the original, as well as Roman senatorial orations. He devoured Goethe during his two decades in exile, reading and rereading Faust many times. Lenin put his knowledge of the classics to good use in the time leading up to the October revolution of 1917. In April of that year, he broke with Russian social-democratic orthodoxy and, in a set of radical theses, called for a socialist revolution in Russia. A number of his own close comrades denounced him. In a sharp riposte, Lenin quoted Mephistopheles from Goethe’s masterwork: “Theory, my friend, is grey, but green is the eternal tree of life.” Source: The Guardian Elmer Bischoff, The River, 1953 If you’ve scrolled this far, you know you want to click: Subscribe
Bengals vs. Dolphins odds: Opening lines for Week 5 matchup
The Bengals are favored by more than a touchdown in Week 5.
Renée Slegers has full backing from Arsenal despite slow start
Arsenal are not looking to dismiss manager Renée Slegers despite a slow start to the 2026/27 season.The Gunners have won just one of their opening five matches in the WSL which sees them ninth in the...
Deputy sustains injuries after responding to fire at Silverton business
Montgomery Road has reopened after a fire at a business in Silverton that left a deputy hurt.
Inside Michael Douglas’s new memoir: Secret affairs, on-set battles and family secrets
In 'One Helluva Ride,' Michael Douglas opens up about firing his dad, affairs on set, his son’s imprisonment and a lifetime lived under the spotlight.
Downtown Urbana entertainment venue/restaurant seeks extension on opening date
While an official opening date for Fernie’s High Horse has yet to be announced, at least two concerts are already booked for late 2026: Emo brand TRSH on Dec. 4
Jesus: Cristiano Ronaldo will decide his Portugal future
Portugal boss Jorge Jesus has opened the door for Cristiano Ronaldo to resume his international career. Ronaldo left the national team squad after he was an unused substitute for a 2-1 win away to Norway in the Nations League on September 27.
After losing in a closed Louisiana primary, Bill Cassidy files bill to require open party elections
Cassidy lost his seat this year after Louisiana switched to closed party primaries.
Colts-Steelers opening odds: Steal one in the Steel City
The Colts could put the league on notice with a win.
Turkish-Japanese Science and Technology University opens in Ankara
Turkish-Japanese Science and Technology University, a joint project agreed on by the two countries in 2013, opened Monday in Ankara, offering undergraduate courses in engineering and doctoral programs in artificial intelligence and earthquake science.
Silicon Valley hottest funding source: the Bank of Best Friends
As big money deals in venture capital dry up, tech founders are asking mom, dad, and friends to open their wallets.
Seven-goal Clásico keeps Barcelona five points clear
Barcelona beat Real Madrid 7-0 in Liga F on Sunday, with Clàudia Pina scoring four goals to extend the Blaugrana’s perfect start and open a five-point lead at the top. The Guardian reported that mo...
Behind bars and beyond capacity: The mental health crisis in prisons
Open Access Government reflects on data and efforts from concerning the prevalence and care of mental health disorders among prisoners
First look: Metallica opens Sphere Las Vegas residency in epic fashion
LAS VEGAS — James Hetfield had one question for fans:
GraceArts Live sets sail with ‘The Pirates of Penzance’
Pirates, romance and a particularly inconvenient birthday will take the stage in Lake Havasu City this month as GraceArts Live opens Gilbert and Sullivan’s comic operetta “The Pirates of Penzance.”
Yale New Haven Hospital designed new center to calm mental health crises
Amid rising pediatric mental health emergencies, Yale New Haven Hospital opened the state’s only hospital-based center for children experiencing mental health crises this July. The center prides itself on therapeutic services and patient autonomy.
Closed Business Day highlights importance of online security for businesses
On 5 October, the day after Open Business Day (an open door in hundreds of companies), the Centre for Cybersecurity Belgium (CCB) is calling on organisations and businesses to close their doors. Not to the public, but to cybercriminals. With Closed Business Day, the CCB is drawing extra attention to business cybersecurity.
Where to watch Sixers vs. Knicks today: Channel, live stream, time, TV schedule for NBA preseason game
It's Philadelphia vs. New York to open the preseason, with LeBron James taking center stage.
Confirmed: Roma reopen talks with Endrick’s entourage
Roma will continue to strengthen in January. Gian Piero Gasperini, even in the last transfer window, was left without a striker capable of sprinting and raising the team’s level. A promised addition...
Ageless Novak Djokovic Stays Perfect in Beijing
Age is supposed to slow a tennis player down. Nobody has told Novak Djokovic. At 39, the Serb eliminated world No. 2 Alexander Zverev in the China Open quarterfinals and extended a streak in Beijing with no Open Era precedent. Djokovic is now 32-0 at the tournament. No player in the Open Era has won …
Eagles vs. Jaguars odds: Opening lines for Week 5 matchup
Which bet do you like more?
Kelley Liu’s Song of Skin to Open SoHo Flagship, Expand CelDot
Kelley Liu is opening Song of Skin’s first permanent store in SoHo, hosting an L.A. pop-up and expanding her K-beauty brand CelDot.
Chiefs HC Andy Reid provides Rashee Rice injury update
The Kansas City Chiefs got a hard fought 30-27 victory over the Las Vegas Raiders on Sunday.However, it came at a cost with a pair of wide receiver injuries. Late in the game, Tyquan Thornton sustained a gruesome ankle injury in which he had to be carted off the field for. On the opening drive, […] The post Chiefs HC Andy Reid provides Rashee Rice injury update appeared first on HEAVY.
Broncos vs. Chargers Opening Odds: Bolts underdogs in Week 5
The Los Angeles Chargers are turning the page to their next game against the Denver Broncos.
Giants vs. Commanders odds: Opening lines for Week 5 matchup
Does Vegas have faith in the 3-1 NY Giants on the road against the 1-3 Commanders?
Preview: Phoenix Suns Open Preseason Play vs. Detroit Pistons
Jordan Ott debuts a revamped, ball-dominant starting five against the Eastern Conference’s top seed while testing how new floor spacers fill the void left by departing sharpshooters.
Broncos open road favorites in Week 5 vs. Chargers
The Broncos are 3.5-point road favorites against the Chargers in Week 5. The over/under stands at 42.5 for this matchup.
Windows 11's File Explorer is finally giving the squiggly ~ key a job, sending it straight to the user folder
There’s a new Windows 11 update that will soon give the squiggly ~ key a job, and that is to quickly open folders like your user profile, Documents, Downloads, and, sometimes very importantly, the AppData folder. Right now, if you use the full path to open AppData, you need to enter `C:UsersusernameAppData` in File Explorer, […]
Cardinals vs. Lions odds: Opening lines for Week 5 matchup
Arizona Cardinals open as home underdogs ahead of matchup with Lions.
Buccaneers vs. Cowboys odds: Opening lines for Week 5 matchup
The Tampa Bay Buccaneers hit the road on a short week as they travel to Dallas to take on the Cowboys Thursday night. Tampa Bay remains winless on the season while Dallas is coming off a big road victory. So what are the oddsmakers thinking of the Week 5 matchup between the Bucs and Cowboys? […]
This mysterious hole on the Moon may open into a giant cave
NASA has selected the GIMLI project to investigate whether the Marius Hill Pit opens into a vast underground cave or lava tube. Using radar, seismic sensors, gravity measurements, and cameras, researchers will search beneath the lunar surface and estimate the size of any hidden void. Such caves could preserve clues to the Moon’s volcanic history and potentially provide protected shelters for future astronauts.
Ed Sheeran's newest opening act praises Macklemore amid tour drama
After other musical acts quit his tour following Macklemore's removal for pro-Palestinian messaging during a performance, Ed Sheeran found a replacement opening act for a night.
Cowboys vs. Buccaneers odds: Opening lines for Week 5 matchup
The Cowboys are BIG favorites for Thursday night.
Having a fine country time at WIOV-105\'s FallFest 2026 [photos]
In Lancaster County, the beginning of fall means country music. A lot of country music, with fans gathered in lawn chairs and on blankets in the open field of a
Caterpillar is a Great Business. But is CAT Stock a Great Buy?
Caterpillar Inc. (NYSE:CAT) is having a strong year. Construction and mining demand remain solid, infrastructure spending is creating more opportunities, and the rapid buildout of data centers is opening another market for the company’s power equipment. The latest numbers make that clear. Sales and revenues reached a record $20.5 billion in the latest quarter, up […]
OpenAI's Altman says AI benefits warrant accepting some risks
OpenAI Chief Executive Sam Altman said the benefits of artificial intelligence justify accepting some risks and argued the technology should remain broadly accessible to the public
Greece hold Klopp’s Germany to goalless draw
Germany were held to a frustrating 0-0 draw by Greece in Thessaloniki, leaving Jurgen Klopp with just one win from his opening four matches as national team coach.Greece made the brighter start, with ...
Township of Ocean Announces Annual Pumpkin Decorating Contest for Local Youth
Ocean Township opens youth pumpkin decorating contest, with Amazon gift cards for top entries in two age divisions.
Ed Sheeran's new tour opener speaks out on Macklemore, calls for 'common ground'
After other musical acts quit his tour following Macklemore's removal for pro-Palestinian messaging during a performance, Ed Sheeran has found a replacement opening act.
Google froze its open source bug bounty program due to a 'significant rise' in AI submissions
AI slop seems to be overwhelming bug bounty programs.
Late Sunday and SNF Open Thread!
Talk about all the late Sunday games with us right here!
Fairfax Behavioral Health opens Lynnwood outpatient clinic
Branches Lynnwood will provide group therapy and medication management with a new focus on neurodivergent teens and adults.
Who is David Robinson, the OpenAI safety leader who quit the company?
David Robinson said he quit as OpenAI's safety lead because he feels the company "is failing to achieve the level of care I believe is needed."
Black Men, Mental Health and the Entertainment Industry
Black men, mental health and entertainment collide as Charlamagne Tha God and Lil Nas X open up about anxiety, trauma and bipolar disorder, while therapist Jahthaime Smith examines the pressures behind the public spotlight.
Opening Odds: Mizzou slightly favored over Texas A&M
Mizzou stays home to try and follow up a Homecoming masterclass.
Penn State Demolished by Northwestern: Post-Game Link Dump
Rocco Becht needs to play better if Penn State is going to turn its season around. The Nittany Lions are searching for answers after its second consecutive loss to open Big Ten play. Northwestern didn’t just beat Penn State – they piled on as they racked up over 400 rushing yards. Penn State was out-physicaled […]
Alan Alda opens up about Parkinson’s diagnosis: ‘I don’t want to wish it away’
Alan Alda says the first Parkinson’s symptom that he experienced ‘was not that well-known’ at the time, adding that he had ‘no twitch, no tremor’ and ‘no problems with [his] voice.’
'Digger's box office bomb is Tom Cruise's worst opening in 19 years
Tom Cruise's latest is on track to be this year's biggest box office bomb.
Wu wins first title since Crucible at Shenzhen Open
Wu Yize claims his first ranking title since he became world champion - a result that means China will have the top two players in the rankings for the first time.
Penn State Opens as Underdog Against USC
Penn State has opened as an underdog for the first time in the 2026 season. Following back-to-back loses to begin Big Ten play, the Nittany Lions will be a 1.5-point home underdog when they face USC on Saturday. Despite the game being the annual White Out, the oddsmakers are still not confident in Penn State’s […]
Dodge City hands Rose Hill its first loss of season
The Red Demons opened the scoring on an Austin Pinon penalty kick in the seventh minute.
Two kickoff returns for touchdowns help FAU crush Texas Southern
Leonard Farrow returned two kickoffs for touchdowns in the first quarter, one on the opening play of the game, to help the Owls post an easy win in Boca Raton.
Three Takeaways From Brewers NLDS Game 1 Win vs. Padres
Milwaukee overcame offensive rust and a controversial officiating call behind clutch home runs and a dominant, scoreless bullpen performance to stifle the Padres in a tense opener.
Braves Minor League Recap: Briggs Opens AFL Season
Briggs McKenzie returned to the mound for the first time in three months to kick off the AFL season.
Aho scores 2, Hurricanes beat Flyers 3-2 in OT for first win of season
The win was Carolina's first of the season after the Stanley Cup champions opened with a pair of losses.
Novak Djokovic Stuns Alexander Zverev to Reach Beijing Open Semifinals
In one of his best performances this year, Novak Djokovic is once again in the semifinals at the Beijing Open after overcoming World No. 2 Alexander Zverev in a tight three-set match 4-6 6-4 6-4. The Serbian, now 32-0 at the tournament, came from a set down to secure his joint-best win of the season …
3 Questions For Rockets Preseason Opener In Macao
NBA preseason is already underway. Likely MVP candidate Giannis Antetokounmpo has made his unofficial debut for the Miami Heat. Houston Rockets fans will have to wait until Friday, October 9th for their team to play the Dallas Mavericks in Macao. Here are three questions they should look out for when that time comes. 3 Questions …
Week 4 Early Game Open Thread
Welcome to Week 4! We experimented with some SB Nation feed posts for gameday discussion and while that is interesting on prime time games, I think for the early game thread before the Denver Broncos play should just be a regular post. So we’re bringing that back! The games start early with one in London […]
How Americans’ Financial Health Is Faring In The “K-Shaped” Economy
Hey all, Jason here. Money20/20 is still two weeks away, but I’ve already started packing (not procrastinating for once!). My calendar is already filling up with various sessions I want to catch, meetings, and of course happy hours, dinners, and other side events. If you’ll be in Vegas and want to catch up, let me know by replying to this email, and we can try to find a time amidst the chaos of the Venetian. A big if not totally unexpected piece of news dropped on Friday: the Independent Community Bankers of America, a trade group that represents smaller U.S. banks, filed a lawsuit against the OCC and Comptroller Jonathan Gould, arguing that the regulator’s move to grant trust bank charters to firms seeking to use them to conduct substantial non-fiduciary activities exceeds the authorities granted to the OCC by Congress. I haven’t had time to fully digest the legal filing or speak to folks in my network about it, but you can expect to see coverage and analysis on it in next week’s newsletter. Subscribe or Support by Upgrading The NerdCon agenda just dropped. It’s stacked. Partner content: Nubank built an AI-first bank. Chime built its own banking core. Figure and Valon are rebuilding the mortgage stack. At NerdCon, you’ll hear from the people behind those bets: what they chose, what they learned, and what they’re still figuring out. The agenda is live, with leaders from Nubank, Chime, OpenAI, Remitly, Mercury, Figure, Valon and more. Follow the mainstage conversations, bring the problem your team is wrestling with to a hands-on workshop, or pull up a chair at a roundtable. Pick your quests. Meet us in San Diego, November 18–20. Fintech Business Weekly readers save 20% with code FBW20. Explore the Agenda Things To Know & Other Good Reads Federal Reserve Board finalizes changes to enhance the transparency and public accountability of its stress test and reduce volatility in its stress test-related capital requirements (Federal Reserve Board of Governors) FDIC Announces Conclusion of Independent Monitorship (FDIC) Modernizing Financial Regulation: Initial Observations from eSLR (Fed Vice Chair for Supervision Michelle Bowman) The Data Version of Godzilla versus Kong: FRED Takes on AI (Fed Governor Christopher Waller) Financing the AI buildout (Brookings) Q3’26: Rules for Banks but Not for Crypto (Fintech Takes Banking) The Inevitability of Local Stablecoins (Lombard Notes) Delusions of AI Governance: The Human-in-the-Loop Comfort Blanket (Fintech Snark Tank) Stripe agrees to acquire Parafin to expand revenue opportunities for platforms and help small businesses grow (Stripe) Listen: Fighting Fraud in the Age of AI, with SEON’s Tamas Kadar (Fintech Business Weekly) How Americans’ Financial Health Is Faring In The “K-Shaped” Economy If there is one overarching theme across the economy and politics in the U.S. at the moment, it’s “affordability.” The term is vague enough to encompass a panoply of factors shaping Americans’ day-to-day lives: rising costs for the hallmarks of being “middle class,” including healthcare, housing, childcare, and education, inflation and rising interest rates, and a job market with the specter of AI hovering over it. At the same time, policy shifts under the Trump administration have resulted in reduced subsidies to those who get health insurance under the Affordable Care Act and new restrictions on qualifying for Medicaid and SNAP, the impacts of which have yet to be fully felt. These factors are contributing to declining consumer confidence and general dissatisfaction with the economy, despite continuing GDP growth and stock market records. This divergence is encapsulated in the idea of the “K-shaped” economy, in which a small proportion of Americans have seen their wealth balloon, while the majority of American households struggle to preserve the lifestyle they have. Perhaps the greatest determinant of which branch of the “K” a household is on is whether their wealth and income are primarily derived from employment vs. from assets. Nearly two decades of low interest rates and, more recently, elevated rates of inflation have benefited asset owners, while those whose income is primarily or solely derived from labor have largely seen real purchasing power stagnate or decline. This is reflected in recent Bureau of Labor Statistics data showing that labor share of U.S. GDP — the fraction of economic output that accrues to workers as compensation in exchange for their labor — dropped to just 52.8% in Q2 2026, the lowest since the BLS began keeping records. In 1947, approximately 2/3rds of economic output accrued to workers; even as recently as 2001, labor’s share of GDP was 64.1%. Against this backdrop, we’ve seen the rise of more credit and credit-like products: cash advance apps, “no-fee” overdraft, earned wage access, and buy now pay later, which are often used as small-dollar short-term borrowing mechanisms to meet immediate consumption needs or pay other bills (eg utilities, cell phone, other debt payments). With the markers of a middle class existence and, increasingly, basic financial stability seemingly out of reach for many, it should be no surprise there’s been an increase in “financial nihilism,” something industry peers like Alex Johnson and Frank Rotman have discussed and analyzed the roots of. The explosion of gambling and gambling-adjacent products and services — often marketed under the guise of being an “investment” — is inextricably intertwined with the rise of financial nihilism. Crypto, sports betting, and, more recently, prediction markets offer an escape or even hope of sorts, like a contemporary, digital version of a scratch-off lottery ticket, while leaving the overwhelming number of people who use such products worse off. Share of Households That Are Financially “Vulnerable” Ticks Up The Financial Health Network’s 2026 Financial Health Pulse® report adds context on how American households are faring. (I linked to this report in last week’s newsletter, but wanted to take time to further unpack the data in the report this week.) The Financial Health Network publishes the report annually, providing insight into how Americans’ financial circumstances are changing over time. The 2026 report is derived from a survey fielded in April and May 2026. The report leverages survey responses to assess indicators of financial health across spending, saving, borrowing, and planning/protecting and to determine a zero to 100 “FinHealth” score. Those with scores between 0 and 39 are considered “Financially Vulnerable,” consumers with scores ranging between 40 and 79 are defined as “Financially Coping,” and those with scores of 80 to 100 are “Financially Healthy.” The report found that moderate improvements in 2025 were reversed, with the share of respondents considered financially “vulnerable” rebounding to 17%. The longitudinal data reflect the impact of pandemic-era programs, like expanded unemployment, cash stimulus payments, and pauses of federal student loan payments. The positive impacts of those programs, as reflected in the Financial Health Pulse reports, had largely disappeared by 2023. While pandemic-era inflation — to be fair, in part caused by the various support and stimulus measures — had come down from as high as 9% in 2022, it has rebounded since the start of Trump’s second term, with tariffs and energy market disruptions owing to the war in Iran pushing prices back up. Specific indicators in the survey that deteriorated from 2025 to 2026 include the share of respondents spending less than their income over the past 12 months, the share paying all bills on time over the past 12 months, the share that have a manageable amount or no debt, the share that are “moderately” or “very” confident their insurance is adequate to cover them in an emergency, and the share that “somewhat” or “strongly” agree that their household plans ahead financially. Unsurprisingly, lower- and moderate-income households are more likely to struggle to pay their bills on time and have any funds leftover to save. The share of low-income households whose income exceeded their spending dropped from 35% in 2025 to 31% in 2026, while the share of upper-income households whose income exceeded expenses remained unchanged at 63%. Households with student loans or revolving credit card debt reported having “a bit more” or “far more” debt than was manageable at rates far higher than those not carrying these types of debts. The share of those with student loan debt indicating their debt load was too high to manage increased from 50% in 2025 to 55% in 2026, while the share of those with revolving credit card debt saying the same ticked up from 51% in 2025 to 54% in 2026. Households that had student loans were markedly more likely to be financially “coping” or “vulnerable” vs. those without student loans. In 2026, 27% of households with student loans were considered financially vulnerable, a jump of 6% points vs. 2025. Households without student loans saw just a 1% point increase (not statistically significant) in those considered financially vulnerable. Households’ perception of the affordability of categories of goods and services paints a stark picture, with less than one-fourth considering higher education affordable, about a third deeming childcare affordable, and less than half viewing healthcare as affordable. Fintech Business Weekly is made possible by the generous support of paying subscribers — bringing you independent analysis of banking, fintech, and crypto without fear or favor. You can support my work by becoming a paying subscriber if you aren’t already. 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Democratic Senate Report Highlights How Iran Uses Tether to Evade U.S. Sanctions Iran uses stablecoins, specifically Tether, to evade sanctions, fund regional proxies, and to purchase military drones, a report released last week by the Senate Permanent Subcommittee on Investigations says. The report was authored by committee ranking member Senator Richard Blumenthal (D-CT) and the minority staff. Crypto and stablecoin proponents will often push back on criticism that criminals make use of these assets by arguing that, on an absolute dollar basis, far more illicit funds flow through traditional banking systems and payment rails than via crypto and stablecoins. And while that is likely true, it elides the reality presented in news story after news story: whether state actors — Russia, Iran, North Korea — or criminal groups, those looking to engage in illicit transactions increasingly favor stablecoins and, specifically, Tether (USDT). The report from the Senate Permanent Subcommittee on Investigations released last week adds context to how Iran uses Tether has a lynchpin in its shadow banking system. The report analyzed 846 wallets that have been sanctioned or targeted for seizure, finding that 84% of them transacted exclusively or primarily in Tether. The ability to create near limitless, anonymous wallets and to move funds effectively instantaneously and irreversibly have made crypto a favored financial mechanism for bad actors. Stablecoins solved key drawbacks of bitcoin, namely, the original cryptocurrency’s highly volatile value in dollars. And while Tether (the company) has the technical ability to “freeze” or destroy funds, the company is often limited and reactive in its approach to doing so, the Senate report argues. Tether, which is nominally based in crypto-friendly El Salvador, “has stated that its compliance with OFAC sanctions is ‘voluntary’ and that it follows ‘OFAC guidelines,’” the Senate report says. Owing to these favorable attributes, Tether “became a primary cryptocurrency for Iran, Hamas, Hizballah, and the Houthis beginning in 2023 and has expanded in scale since,” according to the report. Tether’s role in Iran’s shadow banking system, the report says, is enhanced by crypto exchanges like Bybit, Kyrrex, OKX, Gate, and Binance, and through “over the counter” exchanges and hawala networks. The consequences of these financial flows aren’t hypothetical. The Senate report links Tether as a funds transfer mechanism to Iranian proxies in the region, including Hizballah, the Houthis, and Hamas. Tether has also been used to make payments to secure components necessary to manufacture drones, the report says. The report concludes by arguing that “[s]tablecoin issuers with a significant nexus to the United States, particularly those that offer dollar-denominated stablecoins, should be subject to American sanctions law rather than being allowed to hide behind foreign jurisdictions.” Stablecoin issuers like Tether must be held accountable for repeated failures to prevent illicit finance and sanctions violations by law enforcement, the Department of Justice, the Securities and Exchange Commission, and OFAC, the report argues. [Paying Subscriber Exclusive] OUSD Goes Live, Make Your Own Neobank, U.S. Sanctions Russia’s A7 Network As “Transnational Criminal Organization” OpenUSD, the stablecoin issued by the Open Standard consortium that includes Stripe, Visa, Mastercard, core providers, crypto firms, and numerous banks, went live last week. Social commerce platform Whop raised eyebrows in fintech by offering creators on its platform the ability to launch their own neobanks, which the company describes as “great businesses that are easy to run,” in just 15 minutes. And OFAC and FinCEN target Russia’s “shadow banking” A7 Network — more on these stories after the paywall.