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The main source of upset I've seen (disregarding the silly "woke bank" hot air) is less about banking industry regulations per se and more about viewing governm
by 0xcde4c3db 4y ago
The main source of upset I've seen (disregarding the silly "woke bank" hot air) is less about banking industry regulations per se and more about viewing government priorities writ large through a blurry sense of class warfare. For example, there's a particular feeling of a double standard between SVB depositors and people with student loan debt. When the government decided to bend the rules for the former, it was done swiftly with a minimum of serious political conflict. When the government decided to bend the rules for the latter, the swift action was to arrange for the program to be challenged at the Supreme Court.
There are all kinds of legal and practical reasons that this isn't really a fair comparison, but again, it's not really about the specific policies, it's about a sense of where the government's priorities are and its flexibility seeming to only bend in one direction.
- digitaltrees 4y agoValid point. It seems that both challenges would have come from the same group, and that group has no mechanism to stop the FDIC or Fed action.
- deleted 4y ago[deleted]
- tjr225 4y ago[dead]