President Biden: "Investors in the banks will not be protected. They knowingly took a risk, and when the risk didn't pay off, investors lose their money. That's how capitalism works."
You officially endorse and add your voice to the crowd.
Gives 100 Reddit Coins and a week of r/lounge access and ad-free browsing.
A glowing commendation for all to see
Did somebody say 'Murica?
- By - DropKickDougie
Congress Was Told Deregulating Banks Increased Crisis Risks. They Did It Anyway.
Can't stop seeing stars
- By - newnemo
‘That’s how capitalism works,’ Biden says of SVB, Signature Bank investors who lost money in failed banks
Shows the Silver Award... and that's it.
Gives 100 Reddit Coins and a week of r/lounge access and ad-free browsing.
Can't stop seeing stars
- By - BubzerBlue
Biden budget seeks $27.2 billion for NASA, with increases for moon and Mars programs
I'm in this with you.
Can't stop seeing stars
Boldly go where we haven't been in a long, long time.
- By - cnbc_official
[OC] What foreign ways of doing things would Americans embrace?
A golden splash of respect
Shows the Silver Award... and that's it.
I'm in this with you.
- By - YouGov_Official
Rep. George Santos Was Charged In 2017 With Stealing Puppies From Amish Dog Breeders
Did somebody say 'Murica?
- By - spawan
Democrat Adam Schiff announces bid for Feinstein’s US Senate seat in California
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- By - progress18
What is "Marxism" socialism?
Marxist socialism was the form defined by Marx with the big difference being it preached a borderless society where workers of the world united as one.
So no you don't know what these things are
What did I get wrong?
Isn't that what the stress tests are supposed to flag? That the riskier places where they were putting the money in may result in insolvency? And the removal of such made it so that the top 8 banks are not seeing the same problem and are being fearmongered by Jason and David that the people in smaller banks would just shift their deposits over to those with more stringent regulations, including stress tests?
SVB wasn't insoluble. At most it might of had a minor difference between its assets and deposits but that is not a big issue for a bank like them. They can just plug the hole by getting a loan from another bank. This happens pretty often.
The shittiest part of this issue is none of those liberals and free market douches would even talk about the stress test removal for smaller banks including SVB, which the SVB CEO also lobbied to remove. Now that those deregulations are biting them, they're all crying in all caps for fed intervention, fearmongering contagion, asking to bail out SVB.
SVB is not getting bailed out I dont get why people keep saying this. The bank is desolved the only question remains is how much of the deposits with be covered by the FDIC.
I don't remotely understand why anyone would believe $50 billion is too small.
You seem to have zero clue what your talking about or the issues that stress test can cause to small and medium banks. I am sure the 2 minutes you spent reading other redditors comments makes you an expert on banking regulations and banking. But in case you missed a few parts here is a quick summary.
$50b is the point where it begins to be fiscally damaging to bail out a bank.
I would respond with the many ways you miss the whole point of the bill and the issue but at this point I don't think facts or reason will help.
Yes, I know that. What’s your point BirdPerson? Republicans agreed it was too low, cuz what’s a small bank without some corruption, amirite?
Lol corruption?
I didn’t say anything about SVB being corrupt (although time will tell, especially with cash bonuses paid out hours before takeover, Kim Olson and Joe Gentile’s employment, and ya know, the fresh lawsuit filed earlier today, for fraud) but my quip was targeted specifically at republicans teaming up to get rid of regulations that make corruption and malpractice easier to perpetrate across several industries in America.
Lol it takes a special type of redditor to post an aggressive comment then complain about passive aggressiveness in a response.
Also, this was somewhat expected given how Trump deregulated the banking industry...
I mean this bank is failing so it might be fair to say it wasn't to big to fail.
Here's National Review (
It's not a bad take but if the bank sector does stabilise after this then the cascade affect on other banks would be almost trivial.
FDIC receives zero tax dollars. How the fuck is insurance claim a bailout?
Yeah so far all I have heard is they plan to cover it through FDIC which means no tax dollars.
So it's basically 0%, to a small increase in real terms.
Except not everything NASA spends its money 9n is affected by inflation in the same way.
BUILD BUILD BUILD
Seattle is also updating its zoning this year. If we can get them to back a larger upzoning proposal, Seattle could finally be on a path to fixing its housing issue.
Is the main issue with Lebanon that it got into so much debt?
The straightforward answer is the likely of repayment.
What’s really interesting to me is how an anti-debt relief ruling would be issued. If it’s broad enough, could that lead to a slew of lawsuits against corporate bailouts or even seeking collection of PPP loans? If it’s too specific, could Dark Brandon issue another EO sidestepping the decision? Could the executive issue some sort of 1:1 tax credit to provide $10k of relief that ways?
You seem to not understand the what the law at question here is about. The final ruling will likely come down to the courts arguing the bill as written is not clear enough for the administration to authorize blank forgiveness.
The executive branch still operates under the guidelines of congress. Therefore if Congress doesnt say the DOE can do blank loan forgiveness then it cant.
What if your personality is depressed pathetic fuck?
Then you are called a Redditor.
We've been getting positive results from these trials for years now. Which country is going to take the lead and finally make the 4 day work week the standard?
Well for one these studies all are using short term trends to try to predict and long term change which in this case will likely miss the mark massively.
I dont know what the heck is being said, but I do know that there is racism somewhere.
Basically the point is being a good person is much easier if you have money and that white people have more money.
Another brain dead redditor thinking corporations invented the idea of profit.
If it stops people like her being homeless, yes.
What if someone just refuses to pay rent?
Some of these question seem a little strange. The first one for example is odd. At least in my experience there are sidewalks pretty much everywhere in the US. So not sure how this is different.
Just your average daily Santos scandal.
This is a joke right? These businesses can't compete with the prices of ones that force the government to subsidize their underpaid employees' costs of living, which in turn prevents these wage slaves from accessing such businesses. The system is intentionally designed for co-ops to fail.
Your kidding right. You know unions have more influence over politics then any other organization and they used that power to force the governments to protect them and forced people to use unions even if they didn't want to.
If unions had more influence over politics than any other organization Bernie Sanders would be president
Bro you are living in a delusion. Hillary had more union support that Bernie in 2016. I have no idea where you get your info from.
It sounds kind of insane that the "solution" to stopping inflation is to weaken the job market and, therefore, stagnate wages. Essentially, they are trying to make things more unaffordable so that people stop buying things.
The goal isn't to stagnate wages just bring them inline with growth numbers.
People dont give American voters even credit.
J Pow is going to have to keep hiking. Inflation might seem to be cooling but the rest of the economy still looks overheated. If the Fed stops hiking inflation could come roaring back this summer.
We will see. To hard to predict what will happen even a month from now.
The FED can’t print more people. We had a ton of early retirements, covid deaths, long covid and things like expensive childcare.
I mean eventually the job market has to correct itself right?
apparently no one believes it. if they did, SPY would be down 5-8% right now.
No they announced there losses weren't as bad as expect, they projected optimism for the current quarter, announced further cost saving measures, and announced a stock buyback.
My personal favorite.
Of course, since Porter stands a decent chance, they have to put up a corporate Democrat like Schiff to ensure that doesn't happen.
Yeah porter should just be gifted the seat because she announced first. Sounds very democratic.
She was. Behold how shitty corporate democrats are and how hard they fight to push down progressives
How is running for a seat unfair? Porter is not entitled to be senator.
It's not really a tin foil hat theory because it's what they always do when there's a "fear" of a recession. They know recessions are cyclical and there's no avoiding it. They use the opportunity to avoid paying people better and when desperate people are looking for work, they use the opportunity to use a catch. The catch this time will be to snuff out remote work. "You want this job bad enough? It requires you to be in the office 5 days a week".
Please touch some grass man.
My tinfoil hat theory is that the upcoming recession is going to be completely manufactured by capital to punish uppity workers for demanding better wages and working conditions the last couple of years. They'll gladly trade lost money for more power over the labor class.
Lol wtf is this website.
The creation Cotton Gin will made a vast amount of jobs obsolete.
Yeah in theory we can reach a point where AI can automate any job and therefore a lot of jobs do become obsolete, but it's not clear when that would happen. For now at least, it's fair to say we wont see any massive reduction in labor needs.