Companies and institutions that need to be bailed out by the government when they fail, should be owned by the government. You shouldn’t be able to privatize the profit and socialize the losses.
Companies and institutions that need to be bailed out by the government when they fail, should be owned by the government. You shouldn’t be able to privatize the profit and socialize the losses.
And our tax dollars fund the bailouts.
Helping the account holders is ok, but there’s no need to rescue the bankers that screwed up!
This is 100% true. Back when it was said”too big to fail” it was a load and the ones that screwed everything up went off laughing to their bank with the taxpayer’s bailout money. They haven’t changed.
People whine far too much. Imagine if your cash was at one of these failed banks,
and the government did not bail them out. Go to Lebanon and ask the people there
about their locked up cash.
Regular people are always secured by the FDIC, they don’t need bailing out. The government is bailing out the exceeding amount to help multi millionaires / billionaires people and companies. E.g. Apple had half billion on SBV, and now tax payers are recovering that money to Apple, a trillionaire company.
regular tax payers have also not bri…eerrr.. lobbied legislation into passing laws that allow tax avoidance.
Freedom Money
Well you can’t say anything about it or Dirty Socks will freeze your accounts.
Stay asleep, slave. Freedom is your enemy. Money is your God and Saviour.
The FDIC normally only insures up to $250,000 so if you are retired couple with your life savings, you could potentially loose a lot.
With SVB, they covered the full amount for all accounts, because there were a lot of companies and investors with huge accounts. After doing that, they wont have as much money to do it the next time though.
FDIC insures $250k per person and per type of account. A couple would have $500k per joint account.
There should be accountability. SVB was giving away investment positions to “diversity” candidates, investing in woke things. Many customers were using that bank to support their way of doing business. Accountability is the best thing to bring people back to reality. A few months ago SVB was proudly announcing the only all female investment committee in the bank industry, the one committee that played a big role in ruining the bank.
Good goy
Give me a break. Woke, formerly only mentioned by a tiny but loud minority on the left is now a magic word on the far right. Woke is suddenly behind everything that goes on in the US. Look up SVB’s all white executives. Their customers were mostly big corporations like Apple, any “woke” investments would be a tiny fraction of the total. I noticed that you didn’t come up with any examples. Woke banks, woke books (everything but the Bible I guess), next is probably woke weather.
What about the other banks going down, were they also woke? Of course the Trump administrations gutting of Dodd-Frank could not be responsible, or what? Trump’s deregulation craze reminded me of Bush II, who managed to crash the world economy. Fortunately Trump only had 4 years and spent most of the time playing golf, but building up is much harder than tearing down so the effects will still be felt for a long time.
Not ALL banks. WOKE investing banks.