The dogs in the street know it was your man Peter Thiel.
So what do you see happening if the bank collapses?
The general rule of your posts is that when you say somebody “hasn’t a scoobie” that person turns out to know a lot more than you. Even when they know close to nothing, as I would freely admit to doing about banking.
It’s just that you have a very strong record of being wrong about everything under the sun, forever.
Woops, who have guessed that Trump would be at the root of all this.
Anyway the “rugged individualists” who stand alone, always, are getting their bailout from the US taxpayer.
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It has collapsed, the FDIC took it over on Friday. The Fed and the Treasury will step in and protect despositors, investors will take the brunt. The question is how many other regional banks have similar issues, I think it’s close to a trillion they are underwater on bond holdings.
… but Trump.
… and don’t forget Putin. Anyone actually other than Joe Biden and Democrats who were in power for the past two years and could have signed anything they liked into law. No, it’s definitely Trumps fault for signing a bill that Republicans and Democrats approved and sent to his desk in 2018.
Labane gets very hurt when somebody doesn’t like his beloved Trump.
Why do you love him so much? Does he give you the horn?
Good news, the Fed has found it’s money tree and all SB and SVB depositors will be made whole, including the likes of Roku at almost $500M. It might be time to increase the FDIC $250K guaranteed limit. Armageddon averted.
A few days this ago this was Armageddon worse than 2008. Now apparently it’s nothing at all, because the rich have been protected by government.
Labane proving yet again that elimination of risk for the rich “risk taking, rugged individualists” is the true ideology of capitalism (apart from the likes of Peter Thiel who genuinely wants to create armageddon in any way he can).
It can’t be viewed as true capitalism if the hand of the federal govt can be felt intruding every time free market banks falter.
This is one of the times that the right wingers think Federal Intervention programs are actually ok.
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Luckily it’s bailing out the super rich and not, say, people who need hospital treatment, or people who have had their house burn down. Bailing out these people would be total moral hazard - these people should be let die if they can’t pay.
Ron Paul was and is an incredibly dangerous bastard.
Can’t see how it doesn’t exacerbate further inflation and interest rate hikes.
A can being kicked further down the road…
The issue here is depositors were likely going to get pretty much all their money back in time. The time process for that could be devastating. I don’t have an issue with the government facilitating depositors access to funds. Perhaps it should have been capped for now but hey ho.
Goldman Sachs think it will stop another rate rise but JPM disagree.
I don’t see what difference it really makes. I think the Fed just need to hold steady with the plan, some suggestions they would be more aggressive last week but I think they are still not seeing the big picture in the labour market.