Yep, I guy I knew back then who had a lot of local connections in finance went down a list of the local banks, telling me how much each one had loaned out in excess of their limits. Only one, a small bank in a rural town, was within their allowed limits.
Merging institutions with different, or even conflicting, objectives will ensure none of them can do their job successfully. Brilliant way to confuse the unsuspecting.
Uncle Sam sold treasury bonds to bail out the banks in '08. It's now part of the national debt. Millions of families lost their homes. The same crooks are still running the big banks, and not one of them was ever charged with a crime or even lost his job.
Do you have a source for them selling bonds? All I’ve ever seen was how the majority of the TARP loans were paid back with interest. https://www.gao.gov/products/gao-24-107033
Bonds of one sort or another are where the government nearly always gets money to cover expenses they can't cover with tax dollars. The oft-stated notion of just "printing money" is bogus. So is "stealing" it from Social Security. SS gets special bonds in exchange.
It’s amazing how he is doing all this corrupt shit right in the faces of the American people and yet so many of moderate voters and dems that voted for him think that he and his corrupt government will be looking out for them.
How is this happening? I think if you didn’t vote for him you should still be able to use the American institutions we count on. If you didn’t you deserve ALL of this
De-regulation itself is not a bad thing. It's stuff like this that's stupid. All this does is hurt the average person, make them worry that if their bank fails they lose their life savings. As a result, money flows to the larger banks, and the rich get richer.
We've been thru a round of that! In '99, Congress loosened regs on the banks and slacked off on bank examiner visits, so a lot of banks loaned out more than the rules allowed. They also bundled dicey mortgages and sold them as golden. In '08 the SHTF and caused a so-called "liquidity crisis."
Yes. Deregulate banks. They’ve shown time and again to be good stewards of the market and never flown the plane into the mountain chasing profits and bonuses before.
Well I just hope USA can survive the next 4 years. I hope UK realises we need to look to Europe for trade deals etc and forget the alleged ‘special relationship’ We should not be supporting a president who is a criminal or lining the pockets of Elon Musk.
FDIC protects our deposits up to $250K. Given the recklessness of some banks and bank failures in recent years, FDIC is absolutely essential. What is Trump thinking?!
To those of you who expect a Trump-caused depression and financial collapse, what steps are you taking to preserve your monetary and other financial assets? How will you allocate your financial assets in anticipation of the impending economic collapse?
Convicted felon wants to fire the bank guards protecting consumers and back the truck up to the US treasury to buy/support crypto for his crooked billionaire & pirate friends.
I guess they learned nothing from the deregulation of the savings and loans and then the repeal of Glass Stegall. Are the tax payers going to be on the hook for yet another massive bailout of morally rudderless banking execs? Will they once again walk away scott free while the rest of us suffer?
It always has been.
This is exactly why.
You could never trust the State with your money.
Trump just makes it glaringly obvious that the system is built to fuck you.
Comments
He needs to be hospitalized not elected
Who will pay?
Not the billionaires Magats elected.
America The Stupid.
https://www.gao.gov/products/gao-24-107033
🤔🤔🤔
Bankrupt the lower classes and swoop in to buy up what’s left at pennies on the dollar.
Put tariffs on foreign goods so corporate American can gouge consumers.
Kill affordable healthcare so that people have to pay exorbitant prices or just die.
WAKE UP AMERICA
It will be worthless.
If they really want to save some money, let's get rid of Federal Deposit Insurance and have banks buy private deposit insurance.
Give that to Elon and Vivek!
Get your kicks in 2026!!!
for Old Man P̶o̶t̶t̶e̶r̶ Trump and his crypto bros
We’re all George Bailey but without the friends and family to bail us out because they’re money was stolen as well
This is exactly why.
You could never trust the State with your money.
Trump just makes it glaringly obvious that the system is built to fuck you.
How are they this stupid? How were people on Wall Street cheering on these morons today?
2023 United States banking crisis
https://en.wikipedia.org/wiki/2023_United_States_banking_crisis
The 2008 crash was because of lax rules, and a media that caused panic withdraws.
People fearing they were going to lose everything.
The difference today...few people have money in banks.
Banks are no longer relevant to economic stability.
The FDIC needs to stay.