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Do you not want the depositors to be made whole? They did absolutely nothing wrong here except for depositing their money into the wrong bank. How was this a bailout if the greedy pigs got fired and the investors lost everything?
Read the fine print, deposits only guaranteed up to 250,000 dollars.
Just take a look at the top 1% who just stole from the American taxpayers by getting a "too big to fail" bailout for the loser SVB bank. Nothing of what the "lower classes" do will amount to the bailout moneys they've all received. It's a stupid train of thought that only "peasants" game the system. Charles Schwab lost three billion in a half hour and it didn't affect him at all. All he has to do is petition Biden for the refund and he'll get it in the next half hour - if that's not welfare to the core, I don't know what is! The common peasant has to stand on line and get a number to reap any type of benefit if any at all.
As for your comment that I have highlighted in bold, it is 100% true. God forbid some middle class person gets pancreatic cancer or something along those lines, gets into an accident and needs rehabilitation, they will 100% need help with their medical bills. You will never know you will be part of "those who need it" until you need it.
The same dishonest argument has been peddled ever since the GFC.
At least when corporations get bailed out, some of that money makes it to workers that they actually employ (who provide goods and secures to society).
You know what welfare gets us nowadays? Either people defrauding/gaming the system or borderline retarded individuals producing more borderline retarded individuals that either become career criminals or lifelong welfare cases themselves.
The banking system got bailed out during the GFC. Go look at how many people work in big finance and the salaries they make. They pay taxes. They contribute to society. I’m not saying they’re great people but at least there’s an ROI to society.
Go look at the average 20 -55 year old welfare case who’s been on welfare at least 5 years. They’re just parasites on society whose sense of entitlement grows with each election cycle.
Do you not want the depositors to be made whole? They did absolutely nothing wrong here except for depositing their money into the wrong bank. How was this a bailout if the greedy pigs got fired and the investors lost everything?
Depositors got their money back - up to 250K. These people are not at fault - the bankers who controlled SVB are. If they lose they should go under, period. It's the equivalent of me buying a red Ferrari, crashing it and expecting to get money back even though I paid no insurance. Now see how the fraudsters of credit Suisse will most likely get their money back with a European version of "too big to fail."
The same dishonest argument has been peddled ever since the GFC.
At least when corporations get bailed out, some of that money makes it to workers that they actually employ (who provide goods and secures to society).
You know what welfare gets us nowadays? Either people defrauding/gaming the system or borderline retarded individuals producing more borderline retarded individuals that either become career criminals or lifelong welfare cases themselves.
The banking system got bailed out during the GFC. Go look at how many people work in big finance and the salaries they make. They pay taxes. They contribute to society. I’m not saying they’re great people but at least there’s an ROI to society.
Go look at the average 20 -55 year old welfare case who’s been on welfare at least 5 years. They’re just parasites on society whose sense of entitlement grows with each election cycle.
What do welfare types do with their money? Certainly not keep it under a mattress. They go out and buy. Isn't that putting it back into the economy? Yet the very corrupt Bankman-Friedman/ Jeffrey Epstein type of guys go out and spend it on mistresses, coke, human trafficking, the war in Ukraine and on your local favorite Democrat/ Socialist parties that you like to complain so much about. Those types are the real parasites. Look at Jerome Powell and his interest rate hikes - raising interests for something the Fed themselves caused. Now everyone has to spend more to buy less.
Meanwhile, Barney Frank, the former Congressman and author behind TARP and the Dodd-Frank Act (specifically meant to prevent these types of bailouts) ALSO holds a seat on the Board of Directors of the failed Signature Bank. He was pushing for a shareholder bailout until the very last minute.
What do welfare types do with their money? Certainly not keep it under a mattress. They go out and buy. Isn't that putting it back into the economy? Yet the very corrupt Bankman-Friedman/ Jeffrey Epstein type of guys go out and spend it on mistresses, coke, human trafficking, the war in Ukraine and on your local favorite Democrat/ Socialist parties that you like to complain so much about. Those types are the real parasites. Look at Jerome Powell and his interest rate hikes - raising interests for something the Fed themselves caused. Now everyone has to spend more to buy less.
Another narrative peddled by politicians for those who can't think for themselves. The mantra of "well, the poor spend all of the money and it goes right back into eh economy so that's automatically a positive" is nonsense.
Malinvestment exists and the poor malinvest with the best of them. Just because some welfare lifer spends $200 on Nike's or spends down all of their EBT on food (not caring about prices) they don't need, doesn't mean that's automatically great for society. That's great for Nike and the food companies but it's a net negative for the economy and society in the long run. The resources of the economy get distorted. $200 sneakers and over-priced snacks aren't essential drivers of the economy (innovation) in the long term.
You put forth wealthy criminals as if that's an argument for what exactly? Yes, there are wealthy criminals...and?
Btw, the greatest beneficiaries of all of the monopoly money that the Feds printed during COVID were the poor. Net wealth among the bottom quintile more than DOUBLED during that time. The next in line to benefit were the ultra rich because of asset inflation. It's the same game that NYC plays. The poor and the ultra rich win and everyone else pays for it.
Another narrative peddled by politicians for those who can't think for themselves. The mantra of "well, the poor spend all of the money and it goes right back into eh economy so that's automatically a positive" is nonsense.
Malinvestment exists and the poor malinvest with the best of them. Just because some welfare lifer spends $200 on Nike's or spends down all of their EBT on food (not caring about prices) they don't need, doesn't mean that's automatically great for society. That's great for Nike and the food companies but it's a net negative for the economy and society in the long run. The resources of the economy get distorted. $200 sneakers and over-priced snacks aren't essential drivers of the economy (innovation) in the long term.
You put forth wealthy criminals as if that's an argument for what exactly? Yes, there are wealthy criminals...and?
Btw, the greatest beneficiaries of all of the monopoly money that the Feds printed during COVID were the poor. Net wealth among the bottom quintile more than DOUBLED during that time. The next in line to benefit were the ultra rich because of asset inflation. It's the same game that NYC plays. The poor and the ultra rich win and everyone else pays for it.
That is not true. The majority of the money went to small businesses that were failing, which were many. And by the way, I was a conservative myself. Trust me when I tell you that conservatives cannot think for themselves either. Just like leftists, they parrot everything they hear from their leaders - or the popular right leaning podcast and youtube channels.
The religion of the United States is either Republican or Democrat. It's sad really. You have leaders telling everyone on both sides how to think.
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