Posted on 03/14/2023 5:05:47 AM PDT by MtnClimber
It (FDIC) coverage amount needs to be raised anyway. For hard working savers, 250k for a lifetime of working in not enough. How much US taxpayer money did we give to Ukraine and we can’t insure taxpayer deposits for more than 250k?
The United States of America is the greatest country in the world, especially under President Joe Biden.
Greedy people don’t put lots of money into low interest bank products, they buy common stock, etc.
Lol!
I saw a bumper sticker the other day that said “Make Orwell fiction again.”
If I had over 250k, the excess would normally be in the stock market.
There is a need for house transaction and payroll fund protection. Perhaps special banks offering special private coverage.
SVB will reopen as Utopian Bank of California.
When are the Democrats going to stop voting for candidates who are not behaving in their own self interest? Biden did not hang around to take any questions because he doesn’t have any answers. Here is a question anyway. If the bailout money isn’t going to come from the taxpayers, where is it going to come from, Joe?
What is magic about the number 12,000,000 with the Democrats? Biden claims he has created that many new jobs. Until Biden took office and threw the border open to all comers, there used to always be 12,000,000 illegals in the U. S. They never had a clue about how many illegals there were at any given time. And before Biden can start counting new jobs, he needs to refill all those jobs eliminated by the Covid. He hasn’t. He won’t. He can’t.
>The problem was and is banks invested long term in absurdly low interest income bonds.<
True.
SVB quadrupaled in size from 2020-2023. Most was invested in the low interest bonds even knowing that the Biden economy was printing trillions of dollars and stinging inflation was just around the corner.
This all smells of one hand washing the other. Someone had to pay for the ridiculous government spending by buying the bonds. Now the someone gets bailed out.
This had nothing to do with Trump since the big expansion happened after Trump left office.
EC
At the end of the day a criminal cognitive decline is still a criminal
Just divide it between banks. Geez..
Business model: gubmint backed non-recourse loans to anyone who identifies as a muslim gay/non-binary Hispanic person of color environmentalist, as long as they are not Asian.
10% kickback to the “Big Guy”.
I wouldn’t put my life savings in the stock market especially when you can get a guaranteed 5% interest rate in CD’s and savings accounts.
Should be no need to use multiple banks. 250k times two banks would be the same as 500k in one bank. Gubment does not seem to understand this.
Sounds more like the money of Democratic donors was saved
He is not delusional. He is a liar and a cheat.
It is not the first time. First I recall is when Continental of Illinois went down in 84. The point is the bank was insolvent in that their bond portfolio of mostly treasuries was not worth what the bank paid for them. This had nothing to do with the depositors, you deposit money in a bank, you expect the bank and the oversight authorities ensure they do not invest in poor decisions. Of course, the oversight authorities cared not a wit as long as they had their ESG statements in on time.
I heard yesterday that 90% of SVB depositors were over the $250,000 FDIC limit.
If max insured is $250,000 and you have more than that. You simply use more than one bank. I just heard it from a banker on the news.
Breaks our legs then hands us a crutch and says, “See what I did for you. “
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