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re: How are the taxpayers not paying for Bidens new millionaire/billionaire bailout?
Posted on 3/14/23 at 8:35 am to Screaming Viking
Posted on 3/14/23 at 8:35 am to Screaming Viking
quote:
It 100% is a bailout for the rich. The dems will try to frame it as helping the little guy, but the FDIC is insuring up to $250K. That means the little guys are good. I said this in another thread, in a free economy you have to allow for failure.
The majority of customers in SVB and Signature bank are high net worth Americans.....and I would bet most are on the Woke side of politics.
0
Posted on 3/14/23 at 9:13 am to Strannix
the banks all kick in to a rescue pool.
Posted on 3/14/23 at 9:29 am to Strannix
FDIC fees are increased in solvent banks which will be passed on to customers. There margins aren't going to be reduced.
Posted on 3/14/23 at 9:38 am to CelticDog
quote:
the banks all kick in to a rescue pool.
Who pays for that dumbass?
as idiotic as "getting corporations" by rising their taxes
Posted on 3/14/23 at 9:43 am to Strannix
TARP of 2008 made a profit for the Treasury.
Ex/Im bank makes money for the Treasury while making sure that suppliers for parts made in the USA get exported, most of them by small businesses
Ex/Im bank makes money for the Treasury while making sure that suppliers for parts made in the USA get exported, most of them by small businesses
Posted on 3/14/23 at 9:45 am to Screaming Viking
quote:
It 100% is a bailout for the rich.
It's probably a $2-4 billion dollar bailout coming out of the FDIC via the U.S. Treasury. It's not newly printed money from the Federal Reserve.
The other $210 billion will come from SVB assets: mostly U.S. treasuries, mortgage backed securities, and other loans. The FDIC will either take ownership of those assets or sell them to other banks at a steep discount.
The FDIC will make up losses via charges to banks for FDIC insurance and the banks charge their customers. So ultimately bank customers are bailing out SVB depositors to a certain extent.
Posted on 3/14/23 at 9:49 am to Strannix
quote:You clearly are determined not to hear the actual - easy - answer to your question.
How are the taxpayers not paying for Bidens new millionaire/billionaire bailout?
The bank has enough "long-term" securities (basically, just treasuries) to pay out ALL the depositors over time as those securities mature.
Instead of letting a bank panic spread, the gov is basically just swapping out current maturity treasuries for the long-term treasuries so that everyone can access their money now.
It is arguably a form of "bail out", but it is not just taking out the check book. The government will simply hold its own long-term securities now and let them mature at full value.
Posted on 3/14/23 at 9:55 am to rhar61
quote:Uhm, the banks. No taxpayer money on this one.
Who pays for that dumbass?
Posted on 3/14/23 at 10:04 am to Strannix
Edit Look Up one post. These people are stupid
Because the costs are being spread across the US to all banks that will absorb the bailout and will definitely not pass those costs along to their customers.
For totes cereal, the banks across the US are just going to eat the costs. I literally promise.
This post was edited on 3/14/23 at 10:07 am
Posted on 3/14/23 at 10:28 am to CelticDog
quote:
the banks all kick in to a rescue pool.
The good banks will just give money to the bad banks.
Seriously? No one is that stupid.
Posted on 3/14/23 at 10:28 am to Strannix
quote:
How are the taxpayers not paying for Bidens new millionaire/billionaire bailout?
Well, the banks are paying the fees.
Even if the banks did't pass along the cost (which they will), are the banks not themselves, you know, taxpayers?
What Joe means is that they aren't going to raise tax rates to pay for this.
Posted on 3/14/23 at 10:39 am to junkfunky
quote:
The good banks will just give money to the bad banks. Seriously? No one is that stupid
Look in this thread. BigScrub, AlxTgr, legitimately believe banks will simply absorb the losses.
Posted on 3/14/23 at 10:45 am to Strannix
"Well, ya see there's this whole pile of money in Washington and the Republicans want to just keep it and the Democrats use it to help people in need."
This is a direct quote from an 18 y.o. to me back in the 90s when she was arguing that Democrats are better with the economy.
This is a direct quote from an 18 y.o. to me back in the 90s when she was arguing that Democrats are better with the economy.
Posted on 3/14/23 at 10:49 am to LSUFanHouston
quote:
Well, the banks are paying the fees. Even if the banks did't pass along the cost (which they will), are the banks not themselves, you know, taxpayers? What Joe means is that they aren't going to raise tax rates to pay for this.
Joe is banking on owning the media which will tell stupid people the narrative they desire.
And for the most part it will work.
Posted on 3/14/23 at 11:21 am to ItNeverRains
quote:There's a fund they pay into
BigScrub, AlxTgr, legitimately believe banks will simply absorb the losses.
The money already exists. Posted on 3/14/23 at 11:41 am to junkfunky
quote:
The good banks will just give money to the bad banks.
What is a good bank and a bad bank in this scenario?
What if the government had not done anything, and a general run on many/most/all banks happened? Do you think your small regional banks or large TBTF banks would have bene the beneficiaries in that instance?
Posted on 3/14/23 at 12:18 pm to Screaming Viking
quote:
That means the little guys are good.
Do you really think the little guy banks with SVB anyway?!
Posted on 3/14/23 at 1:01 pm to ItNeverRains
quote:
legitimately believe banks will simply absorb the losses
The losses are on paper. There are a ton of held bonds here that will pay out at 100 percent but that's a long ways away.
SVB ran out of time.
The problem is that it was pretty bad poicy for SVB to invest in bonds with the length that they did. Locking in a low rate bond for 10-20 years is insane - if you are a bank.
Posted on 3/14/23 at 1:54 pm to Mo Jeaux
quote:
What is a good bank and a bad bank in this scenario?
Those who manage risk and those that ignore it for the sake of DEI and ESG.
quote:
What if the government had not done anything, and a general run on many/most/all banks happened? Do you think your small regional banks or large TBTF banks would have bene the beneficiaries in that instance?
What does that have to do with increased FDIC fees that will be passed on to customers? That is what I replied to, not the strawman that you built.
They had to do something, yes. They had banks willing to buy SVB and make depositors whole but they weren't on this administration's approved list. They also should go after the managers and execs who sold their positions in the weeks leading up to the collapse but they donate to the right people so they won't be held accountable.
Posted on 3/14/23 at 2:10 pm to LSUFanHouston
quote:
The problem is that it was pretty bad poicy for SVB to invest in bonds with the length that they did. Locking in a low rate bond for 10-20 years is insane - if you are a bank.
What should they have invested in?
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