What's the point of having rules, and forcing depositors to sign agreement statements, when in an instant those can be ignored in order to help those who need no help, help themselves to more?
Deposits are guaranteed up to a quarter million. That would do for most people. Why do these 1%-ers need to be bailed out beyond that? And by whom? Yellen said it would not come out of the federal budget. What then? Is Aunty Jane gonna reach into her own purse?
However it's camouflaged, we all know the truth: the rest of us will all get the bill in order to keep the champagne crowd in clover. Powerful overweening government creates powerful self seeking elites.
What's the point of having rules, and forcing depositors to sign agreement statements, when in an instant those can be ignored in order to help those who need no help, help themselves to more?
Deposits are guaranteed up to a quarter million. That would do for most people. Why do these 1%-ers need to be bailed out beyond that? And by whom? Yellen said it would not come out of the federal budget. What then? Is Aunty Jane gonna reach into her own purse?
However it's camouflaged, we all know the truth: the rest of us will all get the bill in order to keep the champagne crowd in clover. Powerful overweening government creates powerful self seeking elites.
Hooray for Vivek!
I'm borrowing from your excellent post to share the three perspectives on the bank failures. Well done.