Essential retweeted
$IMXI spread at a record ~90% to Western Union’s $16 cash deal.
One ArbLens follower’s take: California DFPI and the parties may already have a settlement in hand but are waiting until after HSR expires (~Nov 1) and WU earnings (Nov 4) to announce it. Little upside in going public earlier, and it reduces the chance of another state piling on.
Outside date still Nov 10. Binary setup.
CA Senate Banking Committee: (916) 651-4102
Chair Grayson: (916) 651-4009
Vice Chair Niello: (916) 651-4006
Rules Cmte (confirms Chopra): Sen. Grove (916) 651-4012, Sen.Jones (916) 651-4040
Governor: gov.ca.gov/contact
why was the approval pulled, and when will DFPI decide?
Essential retweeted
This sounds like @CaliforniaDFPI
in a nutshell 🥜. $IMXI
The thing that drives me most crazy is how unaccountable the regulators in Cali are. They don’t have to respond in substance to record requests. Just block the transaction even though 49 out of 50 states approve including the federal gov’t and international regulators. It is so cynical how @ChopraUSA just blocks because @linamkhan doesn’t like the deal. It is vetocracy and nothing gets done under that system. Easy to criticize and regulate from ivory tower when you don’t feel the pain many regulators get to profit from “consulting” later. It turns into pay to play.
JPMorgan CEO Jamie Dimon warns America is heading down the same path as Europe: “Excessive regulations, bureaucracy, anti-business behavior, anti-innovation. We should not allow that to happen here.” 🇺🇸
“One of the reasons Europe has slowed down so dramatically compared to us is because of excessive regulations, bureaucracy, anti-business behavior, and anti-innovation.
You see that happening around the world. We should not allow that to happen here.
We’ve got to get involved in Washington, D.C., and change how we handle government.
Government departments should report to you and say, ‘Dear taxpayer, you gave me $50 billion. I told you I’d do X. Here’s what I did. Here are the outcomes.’
We don’t do that. But why not?
I think we’ve lost our way, and we should try to get back on track.
It’s more important than anything else we can do to make sure this great country stays great.”
1/ @ChopraUSA has found a way to overrule 51 jurisdictions, the federal government and the New York AG at once: do nothing. No decision, no explanation, no deadline on Western Union / $IMXI. Just sit there until the deal dies.
4/ @ChopraUSA says he protects immigrant families. His delay blocks a deal that comes with a 3-year fee cap New York already secured for them. He isn't protecting them. He's using them as cover.
5/ @ChopraUSA spent years at the CFPB and FTC lecturing companies about accountability. Ask him to explain the $IMXI delay in public and see how fast he discovers the value of silence
Essential retweeted
@CaliforniaDFPI extended approval for the $IMXI deal, then reversed itself 13 days later. No explanation. No substantive response to records requests. That’s not oversight, it’s whim.
And it’s not a one-off. Everyone I know in California, including my furthest-left friends and relatives, is leaving. Gas is near $7. Construction runs $1K per square foot, $3K in the expensive areas. The streets are filthy. Tech is the state’s crown jewel, and even that is heading out. You can’t build or do anything there without a lobbyist and a lawyer. Why would anyone want those policies exported? Why would anyone want that vetocracy exported?
Nobody thinks the feds are perfect, least of all this administration. But a regulator that won’t say why it acts isn’t protecting anyone. It’s power without accountability, and it drives capital, jobs, and families out of a state that’s already unaffordable. It doesn’t just make me angry. It makes me want to fight for laws that constrain California’s reach.
If the choice is rules that lean too libertarian or regulators who answer to no one and build a system where you need “your guy” to get anything done, that’s an easy call.
California opposed a proposal by the Trump SEC to squash states' power to police fraudulent deals and to crack down on corrupt investment practices.
Federal agencies should enforce the law rather than working to delete state laws that protect the public. news.bloomberglaw.com/health…
Essential retweeted
TO THE GREAT PEOPLE OF CALIFORNIA, GET OUT AND VOTE FOR:
– Steve Hilton for Governor
– James Gallagher for U.S. Congress (CA-01)
– Tom McClintock for U.S. Congress (CA-05)
– Kevin Lincoln for U.S. Congress (CA-13)
– Vince Fong for U.S. Congress (CA-20)
– Jay Obernolte for U.S. Congress (CA-23)
– Jim Desmond for U.S. Congress (CA-48)
These Great Patriots have my Complete and Total Endorsement — They will never let you down! President DONALD J. TRUMP
swampthevoteusa.com/californ…
( TS: Oct 22 2026, 6:10 PM ET )
🚨 CALIFORNIA!
Early Voting, in-person, is UNDERWAY NOW in the Great State of California. If you have a mail-in ballot, return it immediately and, if not, GO VOTE at the Polls RIGHT NOW, and get everyone you know to VOTE FOR THE REPUBLICAN IN EVERY RACE, UP AND DOWN THE BALLOT!
Whether you VOTE early, absentee, by mail, or in-person, Republicans must SWAMP the Radical Left Dumocrats with massive turnout! In California, you can cast your early Vote, in-person, all the way through November 2nd. SO IMPORTANT — PLEASE GET OUT AND VOTE. MAGA!
President DONALD J. TRUMP
Find your Voting Location here: swampthevoteusa.com/californ…
( TS: Oct 22 2026, 5:31 PM ET )
Essential retweeted
The ideal solutn is to get some reasonable concessions on the merged co. it is clear cash remittance business is on decline.merger is helpful so business can survive (with synergies) & serve consumers. What hapnd to consumer prices in markets where spirit ceased? @CaliforniaDFPI
California has held up $IMXI/$WU for 9 weeks with no deadline and no public reason. WU's committed deal financing expires Nov 10 and must now be extended. Every month of delay also defers $2.5–4M of promised synergies. Delay isn't free. @ChopraUSA
Californians pick a new governor on Nov 3. Whoever wins inherits an agency holding up a deal 51 other jurisdictions approved, 9 weeks on with no deadline and no reasons given. Performative politics, not consumer protection. A fair question for @ChopraUSA
@ChopraUSA wants a tougher deal than 51 other regulators asked for. fine, but costs don't stay in CA. they get spread across every customer in every state. one state's politics shouldn't set prices for the whole country
Essential retweeted
A small but interesting one. Bombe AM disclosed a small stake in Mobile Infrastructure $BEEP and is thinking about taking BEEP private. The Chairman and CEO, Manuel Chavez, and the CEO, Stephanie Hogue, are Bombe partners.
No price has been offered yet, as Bombe wants due diligence on property performance, capital needs, and capital structure before setting a premium (not our words). BEEP owns and operates parking lots.
Shares have been under pressure as earnings don't cover interest expenses. The thing is now trading at roughly 0.5x book, and it looks like their parking lots are being aggressively amortized on the books.
