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Is FDIC about to make all depositors whole?
Posted on 3/12/23 at 9:24 am
Posted on 3/12/23 at 9:24 am
"The FDIC may end up having to waive the deposit insurance cap and make everybody whole to avoid a broader run. First Republic, Western Alliance Bank and other lenders popular in Silicon Valley are facing withdrawals and have been trying to calm investors and depositors".
Hedge Funds Illegal Move
Bill Ackman Warns Biden
Once again, the American taxpayer gets frigged by the greedy banker. Have you ever met a banker who was not greedy?
Hedge Funds Illegal Move
Bill Ackman Warns Biden
Once again, the American taxpayer gets frigged by the greedy banker. Have you ever met a banker who was not greedy?
This post was edited on 3/12/23 at 10:01 am
12
Posted on 3/12/23 at 9:27 am to Timeoday
Yes they are.
Posted on 3/12/23 at 9:28 am to Timeoday
Only Prince Hairless.
Posted on 3/12/23 at 9:44 am to Timeoday
So these banks are really just Ponzi schemes?
Posted on 3/12/23 at 9:46 am to Timeoday
It's probably a huge temptation.
The argument for doing it is to prevent a general meltdown.
That is a very strong argument.
Posted on 3/12/23 at 9:50 am to TrueTiger
That was the argument for the bailout in 08. We can only kick the can so many times.
Posted on 3/12/23 at 9:50 am to TrueTiger
quote:
It's probably a huge temptation.
The argument for doing it is to prevent a general meltdown.
That is a very strong argument.
I think they're going to announce a fund with some ungodly number behind it to tell the public they're guaranteeing deposits. It's all psychological. If everyone feels that their deposits are safe, there won't be any runs.
None of that fund has to actually be spent. It just needs to exist in the minds of people and businesses.
Posted on 3/12/23 at 9:51 am to Vrai
quote:
That was the argument for the bailout in 08.
I was against TARP, but it worked (and we made like $15B off of it). Bad policies I don't agree with can work.
Posted on 3/12/23 at 9:52 am to Timeoday
quote:
Have you ever met a banker who was not greedy?
Have you ever met a lawyer/doctor/engineer/plumber/bricklayer/salesman/mechanic/teacher/harpsichord repairman who wasn’t greedy?
The government should make every depositor whole. This is in all of our best interests. However, they should make sure the shareholders of the bank pay for as much of this as possible.
ETA: Wait a minute. I think I misunderstood. I thought the OP meant every depositor in SVB.
This post was edited on 3/12/23 at 9:56 am
Posted on 3/12/23 at 9:52 am to SlowFlowPro
quote:
None of that fund has to actually be spent. It just needs to exist in the minds of people and businesses.
We live in a world where facts don't matter,
so it just might work.
Posted on 3/12/23 at 9:54 am to TrueTiger
It's not even that. The fund can exist, but none of it has to be spent. People just have to feel calm enough not to try to take out their deposits. It's all psychological.
Posted on 3/12/23 at 9:57 am to SlowFlowPro
Posted on 3/12/23 at 10:01 am to Timeoday
The rich and influential people that stand to lose from this are scaring everyone into broader bank runs in order to pressure the Government into bailing them out.
Posted on 3/12/23 at 10:06 am to Penrod
quote:
The government should make every depositor whole.
I say BS. I do not pay taxes to protect the ignorant acts of others. Bankers are frigging the taxpayers again and again.
Break the directors and shareholders of these banks and put them in jail for any criminal act. They are the ones who made the insane decisions. Any deposit greater the 250k is not our responsibility.
The Fed Reserve, of course, will disagree.
This post was edited on 3/12/23 at 10:12 am
Posted on 3/12/23 at 10:06 am to Vrai
quote:
That was the argument for the bailout in 08.
And it was persuasive.
Posted on 3/12/23 at 10:07 am to OysterPoBoy
quote:
So these banks are really just Ponzi schemes?
Yes. Wallstreet, too.
Posted on 3/12/23 at 10:10 am to SlowFlowPro
quote:
and we made like $15B off of it
Who is “we”?
Posted on 3/12/23 at 10:11 am to Vrai
Exactly what I am talking about. We are being screwed royally by these greedy ba$7@rds.
Posted on 3/12/23 at 10:13 am to Timeoday
This is what people don't seem to get: this could happen to any bank. It just takes an emotional panic.
Posted on 3/12/23 at 10:23 am to Timeoday
Ridiculous.
Just rushing in to save the wealthy and stupid leftwing tech accounts.
Those morons should have spread their accounts out or put their wealth in other investments. They should have known the rules 250k.
There isn't enough insurance to cover the cash loss without the Fed printer going brrrrrrr and causing more inflation.
Just rushing in to save the wealthy and stupid leftwing tech accounts.
Those morons should have spread their accounts out or put their wealth in other investments. They should have known the rules 250k.
There isn't enough insurance to cover the cash loss without the Fed printer going brrrrrrr and causing more inflation.
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