03-18-2023, 09:19 PM
(03-18-2023, 09:09 PM)jj82284 Wrote: [ -> ](03-15-2023, 03:15 PM)The Real Marty Wrote: [ -> ]I don't understand the problem with bailing out depositors, who are not guilty of anything. Especially businesses who cannot stay below the $250,000 limit and continue to operate.
Because we have to keep up the illusion that the green pieces of paper in our pocket mean something.
250 k isn't just an arbitrary figure, it also represents the actuarial allotment fdic has for a given account. They can't just artificially raise that to infinity on a whim.
(03-15-2023, 03:31 PM)homebiscuit Wrote: [ -> ]I thought it was handled well. Management was sacked (and hopefully the CEO is prosecuted) and depositors with over $250K were made whole using fees paid into the FDIC by bankers instead of using taxpayer dollars.
It remains to be seen if this sets a precedence for other badly managed banks but I don’t think so. If anything, it should create an improvement. After seeing how SVB investors lost their shirts in this deal, they’ll insist on more oversight to protect their interests.
The banking industry is the most regulated industry in our economy. The fed and the fed government are pushing this esg stakeholder theory woke garbage.
These are perfectly reasonable views that I happen to share. There's no need for you to be calling me delusional when we disagree.