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re: Main Street is bailing out risky banks again; this time it's Menlo Park instead of Wall St
Posted on 3/13/23 at 9:01 am to frequent flyer
Posted on 3/13/23 at 9:01 am to frequent flyer
this is fricking bullshite. everyone should be up in arms over this but instead most people are content with getting crumbs from our corrupt government table
Posted on 3/13/23 at 9:05 am to geauxtigers87
quote:
everyone should be up in arms over this
The alternative is potential collapse of civilization
Posted on 3/13/23 at 9:07 am to geauxtigers87
quote:
this is fricking bullshite. everyone should be up in arms over this but instead most people are content with getting crumbs from our corrupt government table
Yeah. And we have people obtuse enough to argue that these fees won't be passed onto customers. Most banks don't have 90% of depositors beyond FDIC limits like SVB did.
I understand the pragmatism on trying to draw a circle around SVB and trying to isolate it to prevent runs on other banks. But at some point we can't ignore moral and ethical concerns of having to bail out a bunch of wealthy institutions for making unnecessarily risky decisions.
This post was edited on 3/13/23 at 9:09 am
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