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What? He is primarily asking for another private bank to acquire SVB not a bailout. Even if a bailout happens this may be smaller than the sum US spends randoml

What? He is primarily asking for another private bank to acquire SVB not a bailout. Even if a bailout happens this may be smaller than the sum US spends randomly. E.g., we sent ~$80 billion to Ukraine in a year. https://www.cfr.org/article/how-much-aid-has-us-sent-ukraine-here-are-six-charts https://www.cfr.org/article/how-much-aid-has-us-sent-ukraine.... If you agree there is a good argument for sending money to Ukraine benefitting US then why not agree there is an argument protecting against bank runs and depositors? SVB's total deposits are in that range (ignoring other assets they have).

kennywinker 4y ago
Did you really just compare a war, where somewhere in the order of 200,000 people have died, with a bank collapse?
- cscurmudgeon 4y ago
  Did you just do an emotional appeal devoid of logic (but taking advantage of deaths of 200,000 people)?
  - kennywinker 4y ago
    Well, if you believe that the only thing the lives at stake have to do with are emotions, then yes I did. But usually the reason for spending money is considered part of the rational decision making process.
    - cscurmudgeon 4y ago
      Well, at least you care more than Zelensky. https://www.ndtv.com/feature/oscars-reject-ukraine-president-volodymyr-zelenskys-request-to-speak-at-the-ceremony-3850622 https://www.ndtv.com/feature/oscars-reject-ukraine-president... Btw, the govt is responsible for this mess as they prevented narrow banking. So, nothing morally wrong with a public bailout. https://www.bloomberg.com/opinion/articles/2019-03-08/the-fed-versus-the-narrow-bank https://www.bloomberg.com/opinion/articles/2019-03-08/the-fe... In a way, the govt is obligated to bailout the depositors as the govt. prevented safer forms of banking. And to reiterate the amount will be small compared to US govt spending on allies and internal losses due to govt. corruption and ineptitude. https://foreignpolicy.com/2021/01/28/report-transparency-international-corruption-worst-decade-united-states/ https://foreignpolicy.com/2021/01/28/report-transparency-int... https://www.cnbc.com/2023/03/09/how-medicare-and-medicaid-fraud-became-a-100b-problem-for-the-us.html https://www.cnbc.com/2023/03/09/how-medicare-and-medicaid-fr... https://www.concernusa.org/story/foreign-aid-by-country/ https://www.concernusa.org/story/foreign-aid-by-country/

kennywinker 4y ago

Did you really just compare a war, where somewhere in the order of 200,000 people have died, with a bank collapse?

cscurmudgeon 4y ago
Did you just do an emotional appeal devoid of logic (but taking advantage of deaths of 200,000 people)?
- kennywinker 4y ago
  Well, if you believe that the only thing the lives at stake have to do with are emotions, then yes I did. But usually the reason for spending money is considered part of the rational decision making process.
  - cscurmudgeon 4y ago
    Well, at least you care more than Zelensky. https://www.ndtv.com/feature/oscars-reject-ukraine-president-volodymyr-zelenskys-request-to-speak-at-the-ceremony-3850622 https://www.ndtv.com/feature/oscars-reject-ukraine-president... Btw, the govt is responsible for this mess as they prevented narrow banking. So, nothing morally wrong with a public bailout. https://www.bloomberg.com/opinion/articles/2019-03-08/the-fed-versus-the-narrow-bank https://www.bloomberg.com/opinion/articles/2019-03-08/the-fe... In a way, the govt is obligated to bailout the depositors as the govt. prevented safer forms of banking. And to reiterate the amount will be small compared to US govt spending on allies and internal losses due to govt. corruption and ineptitude. https://foreignpolicy.com/2021/01/28/report-transparency-international-corruption-worst-decade-united-states/ https://foreignpolicy.com/2021/01/28/report-transparency-int... https://www.cnbc.com/2023/03/09/how-medicare-and-medicaid-fraud-became-a-100b-problem-for-the-us.html https://www.cnbc.com/2023/03/09/how-medicare-and-medicaid-fr... https://www.concernusa.org/story/foreign-aid-by-country/ https://www.concernusa.org/story/foreign-aid-by-country/