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Big depositors are moving their money out of small banks and into big banks because they see that big banks will get bailouts if they get into trouble whereas s
by argella 4y ago
Big depositors are moving their money out of small banks and into big banks because they see that big banks will get bailouts if they get into trouble whereas small banks will only get the 250k insurance.
Nice bit of consolidation. will make it easier for the gov to roll out central bank digital currency and obtain even more control over our lives.
- DeathArrow 4y agoMake one bank to rule them all. Call it The Bank.
- esotericimpl 4y agoThats clearly what the people want... You get the government you deserve. etc... Based on last weekend's fun the VCs just want their money insured. The only way to do that is to have the government / FED as the final backstop.
- a1445c8b 4y agoI have a better idea. Let’s call it The Federal Reserve.
- frankfrankfrank 4y agoAnd then we can create an authoritarian uniparty to govern us all from behind a false appearance of a choice between two fake parties. One of the facade parties we can make appeal to one half of society and the other we can make appeal to the other half of the society to make commoners think they are both choosing, having a say, and can feel virtuous about their fake choice opposed to the folks who chose the other faker party. There can even be meaningless elections where the people can choose between the things the uniparty was going to do anyways like killing people. Eventually we can just call it The Party and we can be at war with Eurasia, as we always have been.
- DeathArrow 4y ago> And then we can create an authoritarian uniparty to govern us all from behind a false appearance of a choice between two fake parties. I thought we are there already. :)
- osigurdson 4y agoEnjoy the 25% mortgage rates with no competition to drive efficiencies.
- luckylion 4y agoWhy stop at banks? Make one that rules everything. Call it The.
- DeathArrow 4y agoScifi authors call it The Corporation or The Empire. Historians call it The Communist Party.
- deleted 4y ago[deleted]
- trosi 4y agoYep, I'd very angry at Yellen right now if I was a shareholder of a small bank.
- dkjaudyeqooe 4y ago[flagged]
- deleted 4y ago[deleted]
- lxgr 4y agoDidn‘t we just literally see the government bail out all depositors of a small bank in trouble beyond the FDIC insurance limit?