Each year during the State of the Union, the president designates a “survivor” to stay away from the Capitol in case disaster strikes. This year it’s Education Secretary Miguel Cardona. The practice of one Cabinet official skipping large in-person events dates back to the early 1960s ...
it plays an important role in regulation, because firms that it designates as systemically important come under a consolidated supervisory regime that may be considerably more stringent than the standards that apply to non-systemic firms. The