Posted on 03/12/2023 7:14:06 PM PDT by Beave Meister
The number of zany and downright kooky comments is on the rise since COVID-19.
I cannot move now. It is set to drop maybe 5%.
It’s at 202.98 3/12/2023
It might be worse, I will let you know.
Excellent question...The term “moral hazard”, as applied to venture capitalism, has apparently gone out of vogue in the aftermath of the 2008 crash.
“Joint” private member banking.
Probable member policy collusion upcoming to pass on cost of doing business to customers/consumers
In essence a quasi-private monopoly.
If enough blowback customers leaving may have effect
But where?
Banks pay FDIC premiums on total liabilities, not just insured balances.
Understand, that’s just me figuring. It would be a good idea if Yellen provided details, but I bet she doesn’t want to because how people will interpret it, rightly or wrongly. It’s a scum bag move in my estimation. Trust is restored with fact and credibility. Yellen has zero credibility. Banks, haha, have zero credibility, at least for me. I worked for JP Morgan back in the 90’s a software engineer. I coded some of their tricks, err, I mean trading strategies.
The dough always comes from the tax-payers, no made how they try to present it.
Also:
And:
Thomas Massie
@RepThomasMassie
·
3h
Just got off of a zoom meeting with Fed, Treasury, FDIC, House, and Senate.
A Democrat Senator essentially asked whether there was a program in place to censor information on social media that could lead to a run on the banks.
Correct, as alluded to on another thread.
Quasi-private monopoly
Eg. “Become a gold-star member with our no service charge with a minimum balance of xxxxxxx.
(In other words all below are charged) Just one example
These member collusion policies may be intentionally delayed to deflect the “why”
Yes, we will be paying higher fees to pay for it. It’s like they fined PG&E for fires, and everyone’s rates went up. They shouldn’t fine a corporation, but the person or persons who made the decisions that caused the problems. Maybe jail terms on top of fines.
That's TAXPAYER MONEY!!
The brazenness by which this Government and the "news media" lie to us every damn' day is breathtaking.
Even more so is the fact that people believe this crap.
No, it is not taxpayer money.
It is insurance created by the member banks of the FDIC to cover deposits.
It is fully privately owned.
I suspect they are still expecting a large number of bank withdrawals tomorrow.
“The Fed said it would make additional funding available to banks to ensure they have “the ability to meet the needs of all depositors.””
Where did that money come from? Depositors. Who are depositors?
Right. They'll get the cash they need from the Fed and the FDIC, not from BoA and JP Morgan.
It's always, ALWAYS follow the money!
“...Signature Bank will rely on Wall Street and large financial institutions — not taxpayers — to foot the bill, Treasury officials said.”
It’s absolutely amazing that the federal government still hasn’t learned that government is not there to make money. The Constitution assigned to Congress responsibility for organizing the executive and judicial branches, “raising revenue,” declaring war, and making all laws necessary for executing these powers.
Therefore, since their only source of money receiving is the American citizens through taxes or assessments, or profits from sales from overseas sales which is in representation of the people, then how are taxpayers not footing the bill?
Simple, they are telling you you aren’t...whether you are or not.
wy69
No they-banks are actually a quasi-private monopoly.
The key here is monopoly. So “taxpayers” becomes customers/consumers, and the resourceful will need to be on top of their game in this devious environment.
“Moral Hazard”...a couple of definitions:
“The risk that an individual or organization will behave recklessly or immorally when protected from the consequences.”
and
“The prospect that a party insulated from risk may behave differently from the way it would behave if it were fully exposed to the risk.”
The bailouts of 2008 set the stage for more bad/immoral behavior...there has to be consequences to clear out “mal-investment” and prevent further need for bailouts of depositors.
(This includes the venture capitol depositors at SVB).
“Risks are socialized and profits are privatized” is a moral failing.
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