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> If there’s a shortfall they will charge the banks a little extra in their next insurance payment, but keep in mind we’re talking about at most a few billion d
by plandis 4y ago
> If there’s a shortfall they will charge the banks a little extra in their next insurance payment, but keep in mind we’re talking about at most a few billion dollars spread over every bank; they are unlikely to pass on a small cost like that, but even if they do pass on the cost to the taxpayer it will be something like $10 per person maximum.
Regardless of size that sure sounds like “taxpayers will pick up the bill”
- AdamN 4y agoBank customers will pick up the bill. There are actually a large number of US residents that aren't bank customers or are too small to meaningfully increase fees on. This will cost money but it will be smeared out across businesses and middle class/upper class individuals.
- fidgewidge 4y agoIt's an in extra cost that the government is forcing people to pay against their will, in order to achieve social objectives decided by the government. It's a tax and making banks act as the collectors doesn't change that. I really hope the tech community doesn't try and pull this sort of stupid word game on the rest of society because everyone will see through it.
- AdamN 4y agoSo you're saying they're just raising an existing tax by that logic (since FDIC is already using this mechanism and all banks already pay into it for the base FDIC insurance)
- fidgewidge 4y agoYes!