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| Government Corruption |
| Former Treasury Official Says US Banks On Verge Of ‘Nationalization' |
| 2023-03-15 |
| [Daily Caller] A former Treasury Department official said Tuesday that American banks were on the verge of being nationalized following the Friday collapse of Silicon Valley Bank and the government’s response. "What the authorities did over the weekend was absolutely profound. They guaranteed the deposits, all of them, at Silicon Valley Bank. What that really means — and they won’t say it, and I’ll come back to that — what that really means is that they have guaranteed the entire deposit base of the U.S. financial system. The entire deposit base," Roger Altman, a former deputy Treasury secretary in the Clinton administration, told CNN host Kaitlan Collins. "Why? Because you can’t guarantee all the deposits in Silicon Valley Bank and then the next day say to the depositors, say, at First Republic, sorry, yours aren’t guaranteed. Of course they are." (RELATED: Biden Admin Shot Down Purchase Attempts For Failed Bank, Former Trump Official Says) WATCH: |
| Posted by:Besoeker |
| #11 But some others really are shockingly ignorant— or unthinking — outside their area of expertise. "Suckers aren't supposed to have money." - Riverboat Slim |
| Posted by: M. Murcek 2023-03-15 19:00 |
| #10 Depositors who iggied the FDIC insurance limits were aware of other financial assurances. How can it be otherwise ? Possibly, Besoeker. The biggest players, no doubt. But some others really are shockingly ignorant— or unthinking — outside their area of expertise. Mr. Wife is being consulted by a start-up in that part of the world, and they were keeping all their funds in their operating checking account and associated savings account. Mr. Wife figures he earnt them months of operating expenses just by advising them to invest everything over six months spending in laddered Treasuries (T-bills? I’m not sure what the difference is) up to one year duration. Most people compartmentalize their thinking. |
| Posted by: trailing wife 2023-03-15 18:47 |
| #9 SVB = Silicon Valley Bank SB = Signature Bank SBF = Sam Bankman-Fried Coincidence? |
| Posted by: M. Murcek 2023-03-15 18:35 |
| #8 FTX reportedly paid off the regulators. Perhaps SVB had a similar arrangement. |
| Posted by: Besoeker 2023-03-15 18:24 |
| #7 Ahhhh. Now the truth comes out. |
| Posted by: 49 Pan 2023-03-15 17:26 |
| #6 PANIC PANIC PANIC PANIC. Total banking assets in the US amount to over $28 trillion per the Fed. So Silicon Valley Bank accounted for just under 1% of total assets. |
| Posted by: Tom 2023-03-15 13:12 |
| #5 Liz Warren's ultimate dream is to nationalize banks. |
| Posted by: Deacon Blues 2023-03-15 10:35 |
| #4 Depositors who iggied the FDIC insurance limits were aware of other financial assurances. How can it be otherwise ? |
| Posted by: Besoeker 2023-03-15 09:08 |
| #3 Federal plan to save SVB depositors faces legal, logistical hurdles "If you want to change the law and go above $250,000 as a guarantee, well, then you got to go to Congress and change that law," said former Assistant Treasury Secretary Monica Crowley. |
| Posted by: Frank G 2023-03-15 09:07 |
| #2 violating the clear FDIC $ limits. Not only no, but "you need to go to prison" NO |
| Posted by: Frank G 2023-03-15 08:58 |
| #1 Everything is being nationalized through 'regulatory' overreach. Soviet Central Planning is here. There is only one cure. |
| Posted by: Procopius2k 2023-03-15 08:06 |