Crash the train to stop it

[Rajoo]

Originally Posted by whell

...and those big tech companies and millionaires are the ones that taxpayers will get stuck with the bill for bailing out once again.

Here's one of those beneficiaries, Mr Hair Gel: https://theintercept.com/2023/03/14/...-hes-a-client/

Everyone I know is dependent on technology. The internet, Social Media, EV etc. so I am OK with it. Not to worry, Biden will make it up with a middle class tax cut.

On a serious note, I am not a fan of bailouts at all. But in SVB's case it happened very quickly and a lot of employee payrolls were affected, which is why the $250K (FDIC limit was raised I believe). Waiting to see the final analysis of what and why, or if the bailout was unavoidable.

I will still blame the regional bank on de-regulations because they were put in to avoid such an event and they were removed. Now it will be analyzed why they were removed and how it may have contributed. There are over 5,000 banks in the US and it may be impossible to watch them all. People may now migrate away from small banks and we will see if more go under or will consolidate. Credit Suisse in the news today, 20% down! Are they Woke too, its Switzerland, banking capital of the world!