Posted on 03/12/2023 3:21:17 PM PDT by janetjanet998
J. P. Morgan had all the silver, didn’t he? I seem to recall that at one time he bailed out the USA silver-backed currency. For a profit, of course.
Upon examination over the next few weeks/months, I suspect that the biggest effect of the Fed and Government action will be to PROP UP CRYPTOCURRENCIES.
Each successive financial collapse over the last 115 years has been precipitated by reliance on some new “financial instrument”.
I think the leaders of Russia and China are smiling. And probably the Taliban, and Saudi Arabia and Iran. Venezuela?
Feel free to add to this list.
Shareholders and certain unsecured debtholders will not be protected. Senior management has also been removed
Hold them to this! Gamblers gamble and endure the consequences.
So will this ease the worries of bank customers? What does the magic 8-ball say? Anyone?
You beat me to it
You tell me. I’ve always been baffled by DC sleight of hand. Bottom line, you know who always picks up the check, Mr. Workaday American and his bottomless wallet.
Bookmark
So, it’s campaign donor day at the Fed.
70 Billion for First Republic bank
President Biden says in a statement he will speak tomorrow morning “on how we will maintain a resilient banking system to protect our historic economic Recovery,” adds that the “American people and American businesses can have confidence that their bank deposits will be…
You mean us.
“Wait until Congress gets the bill.
You mean us.”
Reading this and other threads on this mess that is my take. Banks get assessed fees to pay for this mess so they charge us “small normal” consumers higher fees on things (less interest on deposits, higher minimum balance, etc.) to make up the cost of the FDIC charge to them.
we no longer expect the FOMC to deliver a rate hike at its March 22 meeting with considerable uncertainty about the path beyond March.” - Goldman
First Republic stock sinks 66% in pre-market trade
Biden will speak about U.S. banking system at 9am ET.
Oh, goodie,,,can’t wait.
Lookner about to go live again
LIVE COVERAGE: Bank Stocks Price Crash
https://rumble.com/v2cxb72-bank-stocks-price-crash-live-breaking-news-coverage-first-republic-bank-wes.html
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