[BushCountry]

Dems had to protect their big tech-woke contributors.

[avital2]

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.

[motor_racer]

The rich are huge political donors and must be paid back.

[TimSkalaBim]

“Decision by regulators”… Just like that the law gets changed by a non-legislative body. Just another day in the post-constitutional era.

[JayGalt]

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?

[GOPJ]

Progressive WOLE banks will be protected.

If banks citizens use fail we’ll lose everything. Biden and his goons know who butters their bread.

[SaveFerris]

[...that “we are now in a different world.”]

Not to worry.....everything is fine....ask KJP.......

On Twitter

On Twitter

[GOPJ]

Progressive WOKE banks will be protected.

If banks citizens use fail we’ll lose everything. Biden and his goons know who butters their bread.

[BobL]

“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.

[wildcard_redneck]

When was this law passed by Congress?

[Alberta's Child]

I have been pointing this out for days. If a bank’s business customer has to worry about the $250,000 FDIC cap, much of the nation’s economy is going to grind to a halt.

You probably can’t even cover the biweekly payroll run for 50 employees with $250,000.

[TalBlack]

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.

[MCF]

I guess it is also now policy that before your bank/financial institution goes bankrupt to give everyone involved a big bonus. After all, all of the schmucks living from paycheck to paycheck just to scrape by, can just pony up a bit more to pay for it.

[E. Pluribus Unum]

The pyramid scheme has become a horizontal scheme.

[sauropod]

I heard the same point being made this morning on the radio. Kinda hard to put the genie back in the bottle, now.

[Brian Griffin]

The FDIC is probably way undercapitalized.

The federal government is kicking the bundle of dynamite down the road.

[Brian Griffin]

https://fortune.com/2023/03/10/svb-collapse-fdic-takeover-martin-gruenberg-620-billion-hole-banks-balance-sheet/

[agere_contra]

The Fed has pivotted.

They can never, ever raise rates. If they did, banks that own huge amounts of lower-yield USTs will go under. And the Fed would end up buying those bonds at par so that losses can be socialised.

With the Iran/Saudi rapprochement and the imminent end of the petrodollar, foreigners will be divesting from the USD.

So the Fed must print. This won’t be a burden on taxpayers exactly, but on everyone who uses the dollar.

[Seruzawa]

More failures to come now.

[Organic Panic]

And now every single big company knows they can take huge risks and simply get a bail out no matter how much they lose. OH but it will be covered by “fees” banks pay to the FDIC. And we know banks won’t dare think of passing the cost to their responsible depositors.