4 ms·

I mean, yeah. Lots of people are starving and homeless for as trivial a "decision" as that. I'd much rather give everybody food and a home, including the Etsy

by geocar 4y ago

I mean, yeah. Lots of people are starving and homeless for as trivial a "decision" as that. I'd much rather give everybody food and a home, including the Etsy seller, instead of: giving the bankers a ski jolly, people still starving and homeless, less this Etsy seller. Why can't we do that? Some of those entitled Etsy sellers voted against everybody having food and a home; My heart breaks, but not as much for those who have and hate. Maybe now that they are hungry and homeless too they will be a little more sympathetic. Surely that would be best.

raspberry1337 4y ago
What a weird post. >Lots of people are starving and homeless for as trivial a "decision" as that. Most homeless are either severely mentally ill, drug addicted, usually both. >I'd much rather give everybody food and a home, including the Etsy seller, instead of: giving the bankers a ski jolly, people still starving and homeless, less this Etsy seller. Why can't we do that? You could be running a soup kitchen homeless shelter right now instead of posting on HN. It's always someone elses fault! >Some of those entitled Etsy sellers voted against everybody having food and a home; Great analysis and input - if we would all vote x, everybody would have food and home, problem sovled!
justsayinstuff 4y ago
Rather than prop up a bank that support x number of businesses that support y number employees, you'd had the government prop up xy employees? For how long? And if another z number of banks fail? Support xyz employees?
- geocar 4y ago
  Yes. Forever. Yes those too. All of them. I live in a socialist European country, but I'm originally from the USA, and I wish it was better there.
  - ameister14 4y ago
    I was unaware that there were any socialist countries in Europe. Where do you live?
    - tremon 4y ago
      All of Europe is regularly dismissed as socialist whenever the EU enacts regulations that a certain part of the HN population does not like. I would consider the label "socialist" an epitheton ornans here.
- feraloink 4y ago
  This! Exactly this, because the government is also doing a backstop for a second bank, Signature Bank of New York. Silicon Valley Bank is the 2nd largest bank failure in U.S. history, and one day later, Signature Bank was also closed and its uninsured deposits guaranteed by the FDIC. When does it stop? First Republic Bank isn't looking too good. You are correct.
creato 4y ago
> giving the bankers a ski jolly What banker got a “ski jolly” here? The bankers in this case are in exactly the same position they would have been in if the bank were allowed to fail without supporting depositors.
- geocar 4y ago
  > What banker got a “ski jolly” here? Well, this guy for one: https://www.forbes.com/sites/brianbushard/2023/03/10/svb-financial-ceo-sold-36-million-in-stock-before-banks-collapse/ https://www.forbes.com/sites/brianbushard/2023/03/10/svb-fin...
  - op00to 4y ago
    ... and that trade will certainly be investigated. If the trade was not part of an existing trading plan, it's highly likely the CEO will have some very uncomfortable conversations. How is selling stock tantamount to a government bailout?
    - eppp 4y ago
      Ill be glad to have an uncomfortable conversation for a few million dollars.
      - sidlls 4y ago
        The "uncomfortable conversation" can mean a conversation about breaking insider trading regulations, the penalties for which include huge fines and potentially jail time.
    - ModernMech 4y ago
      > the CEO will have some very uncomfortable conversations. Oh no! Not uncomfortable conversations! Anything but that! Maybe it will be followed up with a strongly worded letter with an implied threat of a performative vote by Congress. How will they cope?! They might even have to show up at a gasp House committee hearing! shudders Wake me when someone is convicted.

by geocar 4y ago

raspberry1337 4y ago

What a weird post. >Lots of people are starving and homeless for as trivial a "decision" as that. Most homeless are either severely mentally ill, drug addicted, usually both. >I'd much rather give everybody food and a home, including the Etsy seller, instead of: giving the bankers a ski jolly, people still starving and homeless, less this Etsy seller. Why can't we do that? You could be running a soup kitchen homeless shelter right now instead of posting on HN. It's always someone elses fault! >Some of those entitled Etsy sellers voted against everybody having food and a home; Great analysis and input - if we would all vote x, everybody would have food and home, problem sovled!

justsayinstuff 4y ago

Rather than prop up a bank that support x number of businesses that support y number employees, you'd had the government prop up xy employees? For how long? And if another z number of banks fail? Support xyz employees?

geocar 4y ago
Yes. Forever. Yes those too. All of them. I live in a socialist European country, but I'm originally from the USA, and I wish it was better there.
- ameister14 4y ago
  I was unaware that there were any socialist countries in Europe. Where do you live?
  - tremon 4y ago
    All of Europe is regularly dismissed as socialist whenever the EU enacts regulations that a certain part of the HN population does not like. I would consider the label "socialist" an epitheton ornans here.
feraloink 4y ago
This! Exactly this, because the government is also doing a backstop for a second bank, Signature Bank of New York. Silicon Valley Bank is the 2nd largest bank failure in U.S. history, and one day later, Signature Bank was also closed and its uninsured deposits guaranteed by the FDIC. When does it stop? First Republic Bank isn't looking too good. You are correct.

creato 4y ago

> giving the bankers a ski jolly What banker got a “ski jolly” here? The bankers in this case are in exactly the same position they would have been in if the bank were allowed to fail without supporting depositors.

geocar 4y ago
> What banker got a “ski jolly” here? Well, this guy for one: https://www.forbes.com/sites/brianbushard/2023/03/10/svb-financial-ceo-sold-36-million-in-stock-before-banks-collapse/ https://www.forbes.com/sites/brianbushard/2023/03/10/svb-fin...
- op00to 4y ago
  ... and that trade will certainly be investigated. If the trade was not part of an existing trading plan, it's highly likely the CEO will have some very uncomfortable conversations. How is selling stock tantamount to a government bailout?
  - eppp 4y ago
    Ill be glad to have an uncomfortable conversation for a few million dollars.
    - sidlls 4y ago
      The "uncomfortable conversation" can mean a conversation about breaking insider trading regulations, the penalties for which include huge fines and potentially jail time.
  - ModernMech 4y ago
    > the CEO will have some very uncomfortable conversations. Oh no! Not uncomfortable conversations! Anything but that! Maybe it will be followed up with a strongly worded letter with an implied threat of a performative vote by Congress. How will they cope?! They might even have to show up at a gasp House committee hearing! shudders Wake me when someone is convicted.