Breaking Points
Krystal and Saagar bring on Matt Zeitlin to break down the implications for the banking sector after the government back stops depositors lost funds.
Follow Matthew Zeitlin: https://twitter.com/MattZeitlin?ref_src=twsrc%5Egoogle%7Ctwcamp%5Eserp%7Ctwgr%5Eauthor
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Proof the plutocrats have complete control of the United States. It’s time for a revolution. Peaceful, but a revolution nonetheless. Otherwise, they will destroy everything for what they see as their own benefit.
Can't take out bankruptcy on student loans…..but banks must always get a bailout. Our government is sickening. 🐒💩
If i understand this correctly, they did not bailout these 2 banks, but next insolvent one's via this preventive loan program at the fed? (we won't know about it?)
It appears that Krystal is confusing corporate dems with libertarians. The tech heads aren’t libertarian. Maybe in their dreams but certainly not anywhere in practice but I guess that’s what you see if you imagine America to be a capitalist system. She gets her ideologues confused more and more often.
There is no such thing as "too big to fail"
The depositors should be protected. The $250k limit is not practical in the present.
The problem is lack of regulation. Taxpayer (federal) funds are never on the hook because fed tax $$ are simply removed from the economy when redeemed.
Do not blame or punish depositors or punish them for this. Those depositors include small businesses that employ people. Place the blame on bank execs, lobbyists who fight regulations, and the politicians who deregulate or fail to regulate these banks.
I suggest you invite Robert Hockett to discuss this. Also, invite William Black.
Capitalism will be the death of us! Bankers are aware that there is no amount of risk they can't take, loss will be covered by money stolen from working class tax payers.
We can insure all bank deposits but we cannot insure people with healthcare. What a corporate shithole we've built.
Im sure Gov Gav called the white house and begged to help this bank out as this is where his wifes "fondation" launders the tax money through. The Big Guy probably gave the money to the bank on stipulation Gav wont run for prez! We will know know soon.
Who will come up with the billions upon billions to cover deposits that should not be covered? How will banks pay the Treasury back if they don't have money? The Clinton administration repealed Glass Steagall and Trump got rid of Dodd-Frank. None of this would've happened if "woke" regulations were in place. Firing executives? Who gives a shit? The elite executives are fired with millions of dollars in their pockets while they play golf in Hawaii. We, the working class are the fools. What's happening now is no different than the coverup happening in East Palestine. The working class made these cronies rich with the help of our federal government. You think these guys will see jail time? Hell no they won't. We need rage! Where the hell is the rage?
True capitalism allows all to fail……democrats and RINO's will bailout Wall Street again with American taxpayers money.
I've said it before and I'll say it again, get your money out of a bank and enroll in a Credit Union. They don't do this "funny money" BS like the banks do-taking your deposit and going to Vegas with it.
Nobody should find it surprising that we are in this situation, we have been barreling full speed in this direction for as long as I can remember and now that we are are here we are acting as if it was not our own actions that got us here.
Um they are in fact letting this bank fail. Only depositers are getting protected, not investors.
So which country are you guys moving to once America collapses?
Another discussion of an eye-glaringly recondite topic seldom seen in mainstream media. Good on Breaking Points.
I just don't understand. If I make a bad investment or even just hardship happens, I get told tough shit by the banks, by the government, and by the politicians. Why do they not get the same shame, loss, and "Life lessons" that I and many other's get?
Regulations on any corporation will never work unless anti-lobbying rules are implemented because the people that are the regulators are in bed with the people that work at the corporations. The movie “The Big Short” explains this relationship very well.
I was under the impression socialism was evil. I guess that is only for universal healthcare. When the banks need to be bailed out, that definitely isn't socialism, right?
We don’t know that “all banks are now too big to fail.” We only know that all banks holding uninsured deposits of politically connected billionaires will be rescued. Wait for some Midwest banks with no billionaire money to get in trouble. Then we’ll see what happens …
Idk you were seeing a chain reaction of banks about to fail this weekend. It could have gotten very ugly. But they should probably change the FDIC limit for business accounts. That is a very low amount for any medium size business.
FDIC is insurance. It has a charge. So in other words poor taxpayers have once again bailed out billionaires free of charge. Thats what we are here for. To service our masters.
Remember: East Palestine still forgotten.
Whats to stop any rich person from starting a VC bank and run it into the ground as a rug pull?
Back in Black! Love ya Krystal! <3
looks like the banks in the US have collapsed.
The FED has always been the lender of last resort. Preventing a liquidity crisis from turning into solvency crisis is common sense. There was always an implicit guarantee to ensure all banking deposits by the FDIC. Characterizing this as a bailout is ridiculous. SVB is not getting bailed out, the shareholders and bondholders are getting crushed.
Nah, its cool. We, The People, are totally fine backstopping and acting as the personal gambling slush fund for bank executives so they can have a gentle pillowy landing if they were to fail. Can see NO issues whatsoever with that.
If you’re someone with any money or a job you want the economy to not collapse. In case you were wondering.
I should start a bank… what's the minimum?
These are not banks they are casinos. They have always been corrupt now its more obvious.
I think the US government actually ended up making a profit from the TARP bailout.
Capitalism works on the Mantra of ' WHOSE MONEY IS IT ANYWAY ' to give away.
🏦 🏃♀️ 🏃♂️ 🏃
The US bank system is the titanic. And it’s already hit the iceberg. What you’re watching is the band playing music to keep you entertained, and give the first class passengers time to take all the lifeboats.
It’s time to grab a life jacket and jump ship.
Get your money out NOW
Banks don't have to keep any of your money anymore. You deposit, they loan and purchase and socialize the crash.
The worst of this is not discussed here. This will destroy the value of your money, your savings, your wages. This will destroy what is left of the international financial system
Gold or bitcoin a serious option to takeover from the US dollar as world reserve
If tax payers have to bail out a bank whenever they fail why don't we nationalize the banks. This sucks.