[bitt]

l

[R0CK3T]

Welcome to a world controlled by the Trump Deranged.

[BenLurkin]

Which Democrat Senator?

[DannyTN]

Censorship is the wrong answer as it leads to greater uncertainty and fear.

The right answer is what the FED did today.

• They backstopped all SVB depositors, both insured and uninsured.
• They said any losses incurred by the FDIC would be recovered through a special assessment on the banks. But that's unlikely to be needed as I believe SVB's assets exceeded their deposits by about $40 billion.
• They also made a special lending facility available:
• "The additional funding will be made available through the creation of a new Bank Term Funding Program (BTFP), offering loans of up to one year in length to banks, savings associations, credit unions, and other eligible depository institutions pledging U.S. Treasuries, agency debt and mortgage-backed securities, and other qualifying assets as collateral. These assets will be valued at par. The BTFP will be an additional source of liquidity against high-quality securities, eliminating an institution's need to quickly sell those securities in times of stress."

With 1, they eliminated any issues that SVB customers were going to have. They also set the prcedent that they will likely do the same with the other 2 banks that they took over. That should go a long way towards calming depositor fears at all US banks.

With 2, they were able to claim it wouldn't cost taxpayers anything. Although in the case of SVB it looks like it's unlikely the FDIC will incur a cost.

With 3, the BTFP program they effectively eliminate any liquidity issues a bank might have.

[Freest Republican]

totalitarianism good said no free thinking man ever.

[Eleutheria5]

Get your money out if you haven’t already. Put it in gold bullion and canned goods. Hide it. This can get worse.

[afchief]

Demonrats HATE our Constitution and America!!!

[mewzilla]

The response to the question...

Thomas Massie
@RepThomasMassie
Replying to
@Gplavallee72
“We will get back to you on that.”
8:29 PM · Mar 12, 2023

[sauropod]

Name that Senator.

[mewzilla]

Thomas Massie Retweeted
Mike Benz
@MikeBenzCyber
Rep. Massie: DHS efforts are already underway to add censorship of “financial misinformation” to CISA’s portfolio of “critical infrastructure” domains it can classify tweets as a cyber attack on, & thus censor. See, e.g., link below:

https://cisa.gov/sites/default/files/publications/June%202022%20CSAC%20Recommendations%20%E2%80%93%20MDM_0.pdf
Quote Tweet
Thomas Massie
@RepThomasMassie
·
10h
Just got off of a zoom meeting with Fed, Treasury, FDIC, House, and Senate.

A Democrat Senator essentially asked whether there was a program in place to censor information on social media that could lead to a run on the banks.
11:34 PM · Mar 12, 2023

[ConservativeInPA]

These eff’n bastards caused the crisis so the can strip our freedoms. There are zero Democrats and very few government employees that are competent. They know it and they are afraid. Censorship is for their own protection. But they will sell censorship to protect you. Bull chit.

[StAnDeliver]

This does nothing to help, the Democrats would have revealed the name, and Massie should have immediately done so, rather than making an off-hand tweet.

[ridesthemiles]

DEMS:

THEY LIE TO US

THEY WITH HOLD FROM US

[mewzilla]

Update...

https://public.substack.com/p/exclusive-senator-mark-kelly-called

Mark Kelly is the name on social media.