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OK, let’s go with your point…
On January 20th, 2021…over 2 years ago…Joe Biden was sworn in as President and he immediately reversed a lot of Trump’s policies…
So, if this bank regulation which you refer to (cutting the reserve requirement to $50B for regional banks) was such a bad policy..
Why didn’t Biden CHANGE IT?
Over 2 years into The Biden Administration and you’re still blaming Trump? Uh, sure, good luck with that.
Kind of like blaming Trump for the rail disaster. 2 years, if it was so bad why not change it?
TM
Less government is better government.
Let the market decide.
I am all for Trumps rollbacks of stupid bank “stress tests” and not burdening the rail operators with stupid bearing sensors.
Mitch McTripper is your roadblock.
He needs to be gone, unless he can score us another seat on the Supreme Court.
He played that very well, and you are welcome.
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From what I understand (which generally ain't all that much according to the wife)...SVB was "mostly" invested in US Bonds. When account holders started demanding better returns...SVB started buying long term bonds. Better yield but it don't come quick...but supposedly about as safe as it gets.
The problem is...their cash was invested long term and somebody/bodies figured out how to bring them down by demanding a full withdrawal.
I figure that's why the FDIC was told to pay out FULL deposit amounts instead of the usual "insured" limits. The bank was invested in US Bonds...no risky/shady stuff.
There's more to this story....as per usual.
The Turtle is gonna be in office until he dies...in office. Same goes for Charlie.
Not only are banks invested in US Bonds...Dodd-Frank required banks to only invest in low risk investments...so treasuries were what banks invested in. This was great when The Fed Funds, and discount rates were at 0% and inflation was low...but when the fed started hiking their rates and inflation climbed...banks started losing money (the return on their investments weren't covering inflation, and it was more and more expensive to borrow money)...then you get word of banks failing and you get a run on the bank and the federal government (FDIC) has to step in and guarantee everyone's money to prevent more bank failures and more bank runs. Which means the fed has to print more money to do that...which further weakens the dollar...which puts inflationary pressure on everything...which makes the fed think to raise rates more/faster...but that puts more pressure on banks (causes them to lose more money)...so the fed is between a rock and a hard place...keep hiking rates to fight inflation, but hurt banks...stop hiking rates to help banks, but let inflation go.
On the house floor...hospital bed, oxygen, nurse, and a "NO" button in his rat claws.
Lol...damned if you do...damned if ya don't.
In Japan in the 70s, it took about 5 years and high interest rates to get inflation under control.
Pit Row
Post a reply to: So its Bank Run season ..