Posted on 03/12/2023 12:02:09 PM PDT by marcusmaximus
They are already stating they will be bailed out in entirety. Against the law, anything over 250,000 is , by law, not covered.The demoncrats will protect the leftists at all costs. I wonder ( like the severely corrupted Ukie banks) how much
“ wealth” the corrupt leftists have parked in that bank?
If Janet Yellen is in the mix this is very bad news. She has to be one of the stupider people to have held the Secretary of Treasury position in recent years.
I mean, she is just stupid like a bag of hammers.
Judge Smails gif....
A shame gambling is not illegal in the US financial system. With our savings, investments and national economy at risk.
Does anyone know how the liquidation process works?
I’ve heard that this bank actually had a strong balance sheet, but the problem was they couldn’t cash out enough of their bond holdings, to get the cash to depositors withdrawing their money.
If that’s true, then eventually, depositors over the $250K FDIC insurance limit will get their money, as the bank is liquidated.
But, they may not get their full account balance, depending on the amounts received from the sell off of the bank assets.
If this is true, then that’s very different, from people assuming that balances over $250K are just gone, and that this money will never be collected.
I understand some people may have a long wait to get their money over $250K. But the point is, people saying how some businesses have millions in that bank, and businesses will go out of business because they lost all that money? It depends how much is received from the liquidation of bank assets, doesn’t it?
I know there is a lot of institutional expertise on Free Republic, so I hope someone who knows more can fill us in. Will depositors over $250K get at least some money back eventually?
RE: Janet Yellen....
Watch what you say. She is the “first woman” this and was the “first woman” that. “Historic” like VP Harris. Like knocking Ruth Bader Ginsberg or someone.
You’re looking for competence and merit rather than woke advantages in placing her in power. Old fashioned. /S
The US is $178 Trillion in debt & liablities and is bankrupt many times over.
McCarthy is doing what about that? Sent over $100 Billion to Ukraine.
Anyone else notice that Warren, Sanders, or AOC has been silent about this? Yeah, they’re “outrage” against big corporations and banks are just that, a total scam designed to dupe their kook leftist base every election cycle.
Funny how the government springs into action to protect its corrupt political allies.
It’s not gambling when you know you’ll get bailed out.
Printing presses will be running overtime.
Can you say more inflation? I knew you could.
We specialize in creating moral hazards.
If the SHTF it’s gonna be awesome.
Wonder if she loves Venn diagrams too?
Try running a company where millions in your precious cash are held in limbo for years.
No, those companies’ CFOs should not have put them at risk like that and yes, they are bound to be bailed out while they tell us they aren’t bailing them out.
I disagree. She is not stupid. She is crafty, clever, and devious. She and her ilk are very good at obfuscation and cover ups.
The estimates I’ve seen are depositors should eventually get back 60-80% of the deposits over $250k. It sounds like they would like to give them ~50% as earl leaves as this week.
They are in the process of re-defining bailouts behind a wall of double talk and obfuscation. They are very good at that don’t you know.
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