Posted on 03/14/2023 11:17:20 AM PDT by Kaiser8408a
Well, the banking fiasco CREATED BY THE FEDERAL RESERVE is still with us. Why? Because the FDIC guaranteed deposits above $250,000 for the first time in history, bailing out millionaires/billionaires. I call this Crony Socialism (but I repeat myself).
Congress doesn’t understand banking, only how to spend money.
(Excerpt) Read more at confoundedinterest.net ...
A comment that applies equally to all threads with the word “Biden” in their headline.
Lol!
All business has risk. Socializing loses removes the consequences required for competition. There is only up side and that isn’t risk. It allows morons to run things. That doesn’t turn out well. Instead of a failed bank we get a failed nation.
Picking winners and losers.
Dem friendly businesses in line first.
And you know who is not in line at all
I don’t understand how they can do this since the money was never appropriated by congress for this purpose. Which means the House can STOP this cold if they want to, and they should.
Speaker McCarthy could get up and let the FDIC know that if they do this, their budget will be ZERO from here to eternity, and they will all be referred for Criminal Prosecution for STEALING TAXPAYER FUNDS
stocks of banks with massive underwater paper SHOULD be stressed! ... FedGov bailout was for the DEPOSITORS, not the STOCKHOLDERS or bank management ... stockholder equity in all three banks that just went under went to zero and all the management were fired ...
I could have sworn that Clinton did this back in the 1990’s.
Maybe the limit was $100k back then?
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