Mar 17 - BX Bankers Assemble! Help explain this clip from Janet Yellen! RIP small banks? |
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6 days ago |
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In other banking news:
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5 days ago |
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She is saying that the FDIC board & her have to approve who gets the SVB treatment of having all their money insured . So if you have a billion in SVB you are getting every dime back but if you're in a credit union & they go belly up & the board does not approve to make you whole with your billion deposit you'll get back $250k because the FDIC only insures $250k
Last edited by Xiox; 03-18-2023 at 02:09 PM.. |
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5 days ago |
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And corporate Dems love having a good scapegoat in the Republicans because then they get to just act like there's nothing they can do about it while collecting cash from the same donors Republicans collect cash from. Very incestuous. | |
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Companies and venture capitalists kept high value accounts open with smaller banks who were offering sick a*s deals on loans. They were willing to risk their accounts for sweet heart deals. Once their risk backfired, they run to their bought and paid for politicians to act like rich people need to be bailed out. This is after months of interest rate hikes crushing workers and Congress doing nothing to back up workers unionizing across the country. It's so fu*ked up. | |
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