No. of Recommendations: 1
Years ago I stopped watching any cable news or political blogs. It's become so infantile and America - as I predicted on TMF is becoming a tribalistic caste based society - - only the sheltered Americans dont realize it yet. I do read a few articles in the Economist. WSJ and Barron's also. I look at headlines online just to see the trends.
Therefore on this issue I dont know who is for or against.
All I'll say is, I hope Republicans don't start the "No Bailout!" stuff if needed for Regional or Smaller Banks. Yes- I"m annoyed by SVB. One side loves to shout "Trump!" but won't acknowledge there were warning signs after Trump. And the coddled high tech Liberals - couldn't be bothered to spread out deposits - and yeah, sticks in my craw also that they got bailed out.
BUT - and I speak more to Republicans here - be careful if you feel like shouting "Free Market!" vis a vis regional banks.
America and the world are more and more controlled by the Woke, the NeoCons the Liberals who love their advanced degrees, their overprices colleges, their cushy lives, and the dominion it gives them over people - - -and they want MORE. They want to control what we eat, think, say, drive, even the flush in our toilet or water in our laundry. The meat we eat or don't. What we drive. Republicans - do you REALLY want their darlings JP, Goldman, Bank of America to totally run the world? Yeah yeah, Warren shouts at the CEOs - but so what, it's vanity crap.
Think Republicans: Liberals are the party of Big Corporations and Big Banks. And be it guns, pronouns, bible, or whatever - YOU are ostracized and cancelled. Imagine....... one day having to have some sort of "SOCIAL SCORE".....where your stances on Climate, Abortion, ETC can help or hurt you....and you only have a few big huge banks to go to!
Regional and Small Banks are the bankers of the dentist, the doctor, the car lot owner, the diner owner, the flower shop lady, the landscaping owner....etc etc etc. Heck - when I was 24 years old - certainly I had some track record and savings, but it was a small regional bank that allowed me to make a RELATIONSHIP and financed my initial foray into business -- and subsequent projects since. One phone call to the regional boss - -boom, done. Heck the CEO spent quality time with me and to this day we are email buddies.
Being retired early - I HOPE I don't have to start another business or work. For now I don't need credit.
But, if we truly believe in "regular Americans" "small business" - as someone who made it rather-ok in the small business arena, I can say - we must have small and medium sized banks if America is to even sort of stay America.
Food for thought I hope....
