And now a word from George Carlin:
Posted on 03/12/2023 6:45:39 AM PDT by marcusmaximus
U.S. Treasury Secretary Janet Yellen on Sunday said she was working closely with banking regulators to respond to the collapse of Silicon Valley Bank and protect depositors, but said a major bailout was not being considered.
-snip-
"But we are concerned about depositors and are focused on trying to meet their needs," Yellen said.
(Excerpt) Read more at money.usnews.com ...
Yep. There’s absolutely going to be a bailout. And blame will be placed on Trump somehow.
“But we are concerned about depositors and are focused on trying to meet their needs,” Yellen said.”
Depositors need zer0 inflation.
Hope all those rich lefties that lost everything don’t lose site of the fact SVB got 4 Gold Stars on their audit for their ESG related initiatives, including a one month pride event led by their Risk Management Executive.
Fools.
And now a word from George Carlin:
Hilarious mocking of the SVB website here:
https://www.zerohedge.com/news/2023-03-10/lulz-svb-website
Truth really is stranger than fiction.
Yellen: “A deposit guarantee is not a bailout.”
Real World: “A deposit guarantee is a bailout.”
The fat, ugly, incompetent, low-IQ bitch inspires confidence. /s
Bank inspectors didn’t see the mess at this Fake Bank ?
I suspect that a large solvent bank will acquire SVB.
Regulators will offer inducements and ultimately unbearable pressure. There will be backroom deals, and in the end the old locations will re-open with a different sign outside.
It will not be a "bailout" because in theory, no public money will be involved. The bank that takes it over will get concessions on some rules for a period of time, which will increase their profitability. The public will not ever know what these concessions were.
No depositors will be hurt in the execution of this plan.
A deposit guarantee is not a bailout. Banks, and therefore indirectly their customers, are required to pay insurance premiums to the FDIC. Banks are usually closed when they do not meet margin criteria, when their net assets do not exceed liabilities by more than a specified amount. Generally banks are closed before the FDIC ever has to make any pay outs. The failing bank is absorbed by an acquiring bank. During the 2008 banking crisis many commercial banks did not need, nor ask for bailouts, but the Obama Misadministration regulators forced them on the banks, so that the banks would be government creditors and even more beholden to the Federal Government.
This old bag is as stupid as she is ugly. She should stick to talking about SJW shit. Disgusting, clueless hack. Wish Russia shot her plane down.
Deposit guarantee over $250k per depositor is a bailout.
Countdown until the White House walks back her statement.
Ok we bail them out but we call it something else.
They’ll call it the “Oprah Deposit Preservation Act”.
Also so the public wouldn't be able to know which banks needed them to survive and which were safe without them.
There are no deposit “guarantees” in excess of 250k. I agree any depositors who are made whole in excess of that amount are getting a hand out, but that “hand out” was never guaranteed.
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