Charles Payne: This is a bailout for the Elites
So much for Biden as a man of the People. Guess what % of deposits were uninsured (above the $250,000 limit)?
Link: https://rumble.com/v2cydo2-charles-payne-on-silicon-valley-bank-bailout-this-is-a-bailout-of-the-elite.html
Replies to: Charles Payne: This is a bailout for the Elites
You heartless bastard.
The residents of Silicon Valley have multi-million dollar mortgages to pay off. AND… they vote Democrat robotically.
Your willful ignorance is noted.."SVB collapse: Peter Thiel’s role scrutinized as spark of bank run"
from the attached 'Washington Examiner' (not a left-leaning publication)...
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Tech mogul and Republican campaign donor Peter Thiel is being accused of sparking the run on the bank that forced regulators to close down Silicon Valley Bank.
Journalists and critics have turned their focus on Thiel in the wake of SVB's collapse, accusing him of influencing businesses to withdraw their funding from the bank. His efforts are thought to be the first that eventually sparked the bank run, leading to California regulators intervening.
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Better yet, read the whole article...I'd REALLY like to get your thoughts on it.
Link: https://www.washingtonexaminer.com/news/business/svb-collapse-peter-thiel-silicon-valley-
The very definition of Crony Capitalism
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not a regulator will lose a job
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SVB's 'Investors' are not covered...just depositors, of which many are small businesses...also,
taxpayers won't be footing the bill.
Meanwhile...back to the Trump admin's 2018 bill that loosened regulations on banks like SVB...a "Stress Test" on SVB would have highlighted the very risky financing of SVB's "Hold To Maturity" bonds.
Link: https://www.npr.org/2023/03/12/1162975615/the-u-s-takes-emergency-measures-to-protect-all-deposits-at-silicon-valley-bank
Ty, why is your understanding of finance so poor? How do you think the banks will “pay?”. They will
pay by passing through regulatory costs onto depositors. So, it becomes another way to lower the standard of living for millions of households, just like ESG drives up input costs for all goods and services.
Just read the article...if you have a major problem with what was reported, email the NPR or
perhaps do your own research regarding how the "Bank Funded" compensation works...get back to us when you figure it out....btw, here's the excerpt that you should have picked up on...
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"The U.S. rescue plan involves tapping a deep reserve of bank-funded federal insurance money, not taxpayer dollars, according to officials."
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Pass the word along..."Read more...Post less"....
and where do banks get their money? psst…quit posting stuff you don’t understand
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"Wall Street — Not Taxpayers — Will Pay for the SVB and Signature Deposit Relief Plans"...
from the attached link...
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WASHINGTON — Plans announced Sunday to fully reimburse deposits made in the collapsed Silicon Valley Bank and the shuttered Signature Bank will rely on Wall Street and large financial institutions — not taxpayers — to foot the bill, Treasury officials said.
"For the banks that were put into receivership, the FDIC will use funds from the Deposit Insurance Fund to ensure that all of its depositors are made whole," said a senior Treasury Department official, who spoke to reporters Sunday about the plan on the condition of anonymity.
"The Deposit Insurance Fund is bearing the risk," the official emphasized. "This is not funds from the taxpayer."
The Deposit Insurance Fund is part of the FDIC and FUNDED BY QUARTERLY FEES ASSESSED ON FDIC-INSURED FINANCIAL INSTITUTIONS, as well as interest on funds invested in government bonds.
The DIF currently has over $100 billion in it, a sum the Treasury official said was "more than fully sufficient" to cover SVB and Signature depositors.
In addition to protecting these deposits, the Federal Reserve announced a new Bank Term Funding Program that is aimed at safeguarding institutions vulnerable to the market instability created by the SVB failure. (emphasis mine)
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In short, banks have been paying into this contingency fund for a very long time...there will be no impact on taxpayers...tell me you understand...
Link: https://www.nbcconnecticut.com/news/business/money-report/wall-street-not-taxpayers-will-pay-for-the-svb-and-signature-deposit-relief-plans/2992505/
again, you’re are showing you don’t know how the world works.
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Translation..."You got me there, Ty...I"ve got nothing more to say."
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The links are my gift to you and others...they are from reputable sources...don't just read them...
ponder them...and hopefully learn.
btw, as to the difference between "Depositors" and "Investors", the attached link should help you appreciate why those investors aren't being bailed out here.
Link: https://www.investopedia.com/terms/t/termdeposit.asp
When they are shown to be wrong/irrelevant, you can pretend you didn't link to them...ThunburgIrish.
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Anything to say in response to my comments/links on SVB?
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Heh. Of course not. Haven't read them. Not interested. You aren't credible.
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Wrong. Aren't depositors investors? Th bailout will apply to both insured deposits & UNINSURED ones
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Had you read my linked article you wouldn't be looking so foolish right now...
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We read & talk about your post, not your link. One more q: Aren't banks themselves taxpayers?
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Since you won't recognize the true facts presented thus far on this topic, it doesn't make a lot of
sense to continue down this road...see you on another thread.
Define “small businesses.”
There are no ma and pa bodegas in Silicon Valley.
Don’t ask me to spoon feed you…there are numerous articles about this.
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How quick the Feds moved compared to East Palestine.
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The folk of East Palestine.are not heavy donors.
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FDIC just drained reserves on 1 bank.Banks will pay fees to refill-Bank users will pay higher fees
...it is a big lie by the FDIC and Biden Admin that this will not be on the taxpayers. What tax payer doesn't use a bank?
This makes their other statements of reassurance much less reassuring. They lie whenever it suits them. Same as with the pandemic.