[...that “we are now in a different world.”]
Not to worry.....everything is fine....ask KJP.......
Posted on 03/14/2023 4:00:47 AM PDT by EBH
Many people have described the emergency measures as a bailout and say that they mark a major shift in how the federal government deals with banking crises. Until now, only deposits up to $250,000 were insured under federal law. But the Sunday decision by regulators will protect all deposits made at SVB and crypto-heavy Signature Bank, which regulators wound down on Sunday, to avoid “system risk.”
“We’ve changed the system,” economist Mohamed El-Erian, president of Queens’ College at the University of Cambridge, told CNBC’s Squawk Box on Monday. He also echoed Roger Altman, founder of investment bank advisory firm Evercore, that “we are now in a different world.”
(Excerpt) Read more at msn.com ...
Dems had to protect their big tech-woke contributors.
this was to stop wider run - fdic can easily do an educational campaign reminding us of the insurance contract on cash savings accounts. since the regulators didn’t come down hard on bank mgmt pre-collapse this might have been the cheapest way to stem jitters. but it doesn’t change policy.
The rich are huge political donors and must be paid back.
“Decision by regulators”… Just like that the law gets changed by a non-legislative body. Just another day in the post-constitutional era.
So there is no curb on mismanagement by liberal bank directors & managers. Someone else (taxpayers) is always there to pick up the tab. Where is this in the Constitution?
Progressive WOLE banks will be protected.
If banks citizens use fail we’ll lose everything. Biden and his goons know who butters their bread.
Once you've set the precedent you're changed the policy.
Progressive WOKE banks will be protected.
If banks citizens use fail we’ll lose everything. Biden and his goons know who butters their bread.
“Top economist Mohamed El-Erian says unlimited deposit guarantee is hard to reverse after SVB fallout: ‘We are now in a different world’”
It’s also hard to reverse when the government leaves LOOPHOLES in their insurance schemes allowing them to bail out high-value political donors...but no, the media won’t go there.
Did you not catch Biden’s 3-minute message?
And that is untrue. Those who we’re threatening a broader bank run could easily have been exposed as trying to protect their interests that had irresponsibly been compromised with deposits in an unhealthy bank beyond the guarantee level.
When was this law passed by Congress?
You probably can’t even cover the biweekly payroll run for 50 employees with $250,000.
Predictable. There were a lot of dominoes lined up after SVB. Democrats are in the crosshairs of a collapse. Can’t have that. Do something other than the law allows like it’s not bing, like it’s no big deal.. Demonrat SOP.
[Democrats are in the crosshairs of a collapse. Can’t have that.]
Like I said yesterday. They’re scared of a 1929 collapse on Joe’s watch. It will reveal what a joke this whole thing has been.
Could be an interesting couple of weeks coming up.
Seems more and more people are getting spooked.
I thought the cryptocurrency things were just the beginning. And I still think they were.
To be fair — the law in question includes exceptions that allow the regulators to do exactly what they’ve done. I have found that this is almost always the case when dealing with “post-constitutional” measures taken by the executive branch of the U.S. government.
The pyramid scheme has become a horizontal scheme.
I heard the same point being made this morning on the radio. Kinda hard to put the genie back in the bottle, now.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.
