No. of Recommendations: 10
Florida governor Ron DeSantis told Maria Bartiromo earlier today that Silicon Valley Bank collapsed because it was too woke.
You know, Maria, just appears to me, I mean, this bank, they're so concerned with DEA and politics and all kinds of stuff, I think that really diverted from them focusing on their core mission. I also look at it and say, we have such a morass of federal regulations. We have a massive federal bureaucracy, and yet they never seem to be able to be there when we need them to be able to prevent something like this. And so we'll see what they do going into tomorrow. But I think it's just very disappointing. Kind of reminds me of stuff that we saw in the financial crisis or in Bernie Madoff, where you had warning signs and yet the government that this is supposed to be their job and they always seem to whiff when it counts.Wow, that's all kinds of stupid. DeSantis and Bartiromo also failed to mention that every republican in Congress but one -- together with president Trump -- rolled back regulations in place to oversee community bank activity.
https://www.foxnews.com/media/maria-bartiromo-brea...
No. of Recommendations: 0
SVB Management, SVB customers - were indeed of the woke persuasion. But as I had written - the depositors got bailed out. No different than Woke Wall Street got bailed out.
However, affluent Liberals embracing causes of vanity - had nothing to do with the business end of this and DeSantis is just looking for money and votes because after all, extreme Progressives exist to give power to the likes of Ron and Don.
Back to actual business.....
Does this mean that all depositors with over $250k in one institution don't have to worry from now on? Because if those depositors aren't "made whole" one day.....yet the affluent tech-types with their "seed money" and living well---DID get bailed out - isn't that out and out discrimination, and pure 100% grade A fodder for populists or charlatans saying "look - them rich coasts got taken care of again"
This precedent is now set. Either openly discriminate amongst banks and depositors, OR guarantee all deposits into the millions.
On a side note: I do feel its nonsense that these were not grannies or mentally slow people getting taken advantage of by a scammer. These were EDUCATED people of economic means, who knew full well what theFDIC limits were - yet chose in some cases to go all-in.
Why is it that I routinely make sure I'm not "over" the insured amounts -- at least not over by much??
On other retirement forums, many others do the same thing.
Yet here we are - the "Club" - the WallStreet-BigTech-Media-BigAcademia Axis of First Amongst Equals......get taken care of.
Then for the Cable-News-Extremists:
"Trump relaxed regulations!!!!!!!" yep. But again, the TMF standards was "on his watch" for "Bush!!!!" and "Trump!!!!".
So.....who was in charge last week?
Who in government oversight was in charge?
Who got a majority of political contributions from SBV bank?
"The buck stops here" was the TMF Liberal standard. Until they wish to admit - things aren't that simple and it's not fair to blame the incumbent every time - -- we'll put this one on Dems, the Dem depositors, the Dem city, the Dem management that were all part of this.
No. of Recommendations: 1
'SVB Management, SVB customers - were indeed of the woke persuasion.'
What does this mean?
