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The Bond Repair Stopped Nine Months Ago

Accumulated losses shrank until December. Since then they have grown. Two of every three banks in the country are carrying a bigger unrealized loss today than they were at the December trough...

DPDP: The Agency Law That Puts You in Control of Your Digital Life

Think of a retired soldier who has banked at the same branch for thirty years. The bank already holds his pension papers, his Aadhaar number, and his PAN card. One day it freezes his account...

Bank Results Q2 2026: The Flaw of Averages Costs 60 bps

In the late 1940s the US Air Force measured 4,063 pilots on ten dimensions and found that not one fit the average. There are 4,291 banks in the United States today, and the industry average they are benchmarked against fits about as many of them...

Seeking Beta: What Your Peers Pay for Deposits, and What the Gap Costs You

Last week the Federal Reserve did the one thing nobody could trade on: nothing. It left rates unchanged at 3.50 to 3.75 percent, and the hold itself was the news, even as its own projections hinted the next move could be back up. So now every bank...

This Is Banking's AI Renaissance. Polymaths Will Win It.

In February 2026, Anthropic ran a Claude Code hackathon. More than 13,000 people applied, 500 were chosen, and each was given one week to build something real. When the winners were announced, the lineup wasn't what anyone would have predicted: a...

The Church, The Bank and I