Update
Only logged in members can reply and interact with the post.
Join SimilarWorlds for FREE »

Yellen rules out bailout for Silicon Valley Bank March 12...Oops!

https://www.youtube.com/watch?v=vSZcPvp7NVU

Good thing we didn't bail them out.

Hey, wait a minute. 🙄

They must be too systemically woke to fail. Privatize the gains, socialize the losses as usual.
gol979 · 41-45, M
Just wait for the bail-ins.

Looks like a controlled demolition of the current currency paradigm and the pre-packaged solution will be CBDC and all linked to a digital ID etc. The digital 15 minute gulags are being erected around us. Time to stand up to this psycho system and the people and institutions pushing this dystopian hell scape on humanity. Mass non compliance and its over.
This 👆
Livingwell · 61-69, M
I'm with you. Why should we be stuck paying for someone's poor choices? They know the risks. They know the rules of business. And remember after the last bailout, rules to prevent this were put in place then removed. No sympathy!
whowasthatmaskedman · 70-79, M
Have you forgotten that its Republicans that bail out banks?? Its not like this was a mom and dad bank.😷
whowasthatmaskedman · 70-79, M
@irishmolly72 Sorry. The reason most of your "illegals" want to cross your borders is to escape even worse conditions for the peasants in most south American countries. You wont find to many educated people among them. Its the dispossessed farmers and the poor, or those targetting by the regime for speaking out. So then, not getting shot at or hunted is enough.. Saying America is not the best place doesnt mean its the worst. The other migrants you get are of course the economic ones, who have skipped their home with money and want a new life. Trump Tower is half full of them. Just dont ask too many questions..
But your middle class professional people, looking for a better life for the family. Canada is a better bet..😷
irishmolly72 · 56-60, F
@whowasthatmaskedman
The reason most of your "illegals" want to cross your borders is to escape even worse conditions for the peasants in most south American countries.

And so what socialist countries have better conditions for the peasants, and why don't those peasants clamor to go there instead? I don't suppose the massive amounts of imported illegal drugs are coming in through illeagal immigration either. No mention of that.

Generally speaking, the most socialist countries are the ones people want to leave.
whowasthatmaskedman · 70-79, M
@irishmolly72 Its pretty hard to walk to Norway from Venezuela, or to The Netherlands. or France.. Or Australia. You have the disadvantage of sharing land borders on the Americas. Cut my guess is if you ran a shuttle service all the way to Canada these people would prefer to settle in a place with a better health care system and friendlier people..😷
In the end.. the major banks will buy up all the small banks.
And we’re gunna change the name of the place to planet vanguard/blackrock..

Soon there will be one bank.
One digital currency
And no choice but to play along 🍿
@Roundandroundwego don’t say they weren’t a whole bunch of ppl trying to warn us of the evil within..

Tminus6453 · M
@TheOneyouwerewarnedabout
In the end.. the major banks will buy up all the small banks.
And we’re gunna change the name of the place to planet vanguard/blackrock..

True...and all that shit is controlled by the jews
irishmolly72 · 56-60, F
@Tminus6453 You mean like Mohamed El-Erian, Jerome Powel, Rishi Sunak, Xi Jinping, Brian Moynihan?
Northwest · M
Did we bail them out?

Did investors in the bank get to keep their money? No.
Are taxpayers on the hook for any losses? No.

But we do need new legislation, to prevent financial institutions from playing monopoly with interest rate "trading".
irishmolly72 · 56-60, F
@Northwest The Dodd Frank act added hundreds of thousands of pages of regulations, and an army of hundreds of regulators. The Fed enacts "stress tests" in case regular regulation fails. How can this massive architecture fail to spot such an obvious situation with long duration bonds at near zero interest rates and a massive run-prone deposit base?

When the government fails, the left wing solution is always... more government! Notice the pattern here?

Are taxpayers on the hook for any losses? No.

Keep in mind that inflation is a tax. In that regard taxes are way up. But this is a regressive tax, hurting the poor and middle class the most. I don't hear any mention of that aspect from the left.

Oh, and by the way, Biden just proposed literal tax increases.

"Biden pitches $5.5T in tax hikes, fed worker pay raise in budget proposal..."

https://nypost.com/2023/03/09/biden-pitches-trillions-in-tax-hikes-in-budget-proposal/
LordShadowfire · 46-50, M
@irishmolly72 “Dodd-Frank is a disaster. We’re going to be doing a big number on Dodd-Frank,” Trump said on Jan. 30, 2017, as he signed an executive order requiring that agencies eliminate two regulations for each new one they wanted to implement.
Northwest · M
@irishmolly72
The Dodd Frank act added hundreds of thousands of pages of regulations, and an army of hundreds of regulators. The Fed enacts "stress tests" in case regular regulation fails. How can this massive architecture fail to spot such an obvious situation with long duration bonds at near zero interest rates and a massive run-prone deposit base?

Not what my comment was about. Let me repost it, to make sure it's fresh in your memory, when you try to deflect, I mean respond:

Did investors in the bank get to keep their money? No.
Are taxpayers on the hook for any losses? No.

BTW, a simple memory refresher, Trump signed a law in 2019 (more like bragged about it), gutting the Dodd-Franck act.

Keep in mind that inflation is a tax. In that regard taxes are way up.

Another deflection.
irishmolly72 · 56-60, F
@LordShadowfire Only he didn't.

He exempted some small banks from some of the regulations in 2018. The overwhelming majority of the act is still intact. The current financial crisis is the result of the Fed pouring massive amounts of money into the economy, and the Biden administration spending big chunks of is as fast as possible.

Free money, an "everything bubble", chronic inflation, financial instability. Welcome to Biden's america.
LordShadowfire · 46-50, M
@irishmolly72 I see bothsidesism as a cancer. Bothsidesists pretend that the far left is equally as bad as the far right, and that's a lie. Reaching a middle point between two equally bad places sounds like a great idea, but you've got to understand where the middle point really is. The far right has pushed the barrier so far over that the true middle is what appears to most right wing folks as liberal.
irishmolly72 · 56-60, F
@LordShadowfire If you are straddling a small stream and one side is boiling hot, and the other side if frozen solid, then on average you're comfortable.
This comment is hidden. Show Comment
GerOttman · 61-69, M
You need to stop! And you need to stop now... It's OK to know things, telling others will get you noticed. Noticed by the wrong people! All of these social pages are monitored closely.

I know, we all know. Just keep it to yourself for your own safety!
@GerOttman the empire of idiots knows all about it. It can't matter to chatter! Those who own the internet crashed the US mind long ago. Before broadband.
You think someone will see some time behind bars this time?
Or will the bail out include a nice pay bump for the execs that lost all the dough?

Like the last time
Ynotisay · M
I'm not sure you watched the clip. Or or aware of the steps that were taken. Or understand what government backed assets means. Maybe you're just hoping that innocent people and companies lose everything. Or you're just not too up to speed on this stuff. That would be my guess. Doesn't seem to get in the way of those who are hoping for failure. You know, the "Patriot's" lane.
irishmolly72 · 56-60, F
@Ynotisay Government backed to $250,000. Oppps I mean unlimited government bailout. 😝
Ynotisay · M
@irishmolly72 In case you're looking for a clue on how this works, this might narrow it down a bit. But I'm sure that's not the case. Impotent, America-hating whiners gonna' whine.

Silicon Valley Bank was shut down by California regulators on Friday after depositors rushed to withdraw funds amid concerns about the bank's balance sheet. The (FDIC) was appointed receiver and created the Deposit Insurance National Bank of Santa Clara, to which all insured deposits of Silicon Valley Bank were transferred.
irishmolly72 · 56-60, F
@Ynotisay Actually, all depositors will be made whole. It's moral hazard run amok. American banking is slowly being nationalized.
MarineBob · 56-60, M
Not her call
whowasthatmaskedman · 70-79, M
@MarineBob But the right one. The way SVB did business was worse than a casino.😷
irishmolly72 · 56-60, F
@whowasthatmaskedman They were too busy pushing woke nonsense to manage risk. Now it's the American taxpayers' problem.
whowasthatmaskedman · 70-79, M
@irishmolly72 So "woke" is your new catch cry since Hillarys emails got old??? But I get it. you dont have to do "aware"..😷
MasterLee · 56-60, M
This week anyway
Sorry world USA is hegemon and needs to crash you to own you every so often.
Think Nordstream 2 pipeline -. It's not okay for you to have security, either. Europe agrees it's time to suffer for US hegemony. Everyone Will.
Lots of questions, no actual answers.
irishmolly72 · 56-60, F
@BizSuitStacy There are answers, but the answers don't fit the narratives of either party.
LordShadowfire · 46-50, M
So, is this a good time to talk about how Donald Trump basically set this up as a time bomb to go off under Biden's watch?
This message was deleted by its author.
LordShadowfire · 46-50, M
@irishmolly72 Don't. Don't do that. That's like the stereotypical right-winger go to move. Stalin, Mao, and Pol Pot, who had about as much to do with actual communism as Captain Kangaroo has to piloting a boat.
irishmolly72 · 56-60, F
@LordShadowfire Retracted. :)

 
Post Comment