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So you want another round of regional bank failures so more money will move to JP Morgan? Can't see that going wrong.
by diogenescynic 3y ago
So you want another round of regional bank failures so more money will move to JP Morgan? Can't see that going wrong.
- toomuchtodo 3y agoIf the insolvency already exists, are you advocating to pretend it doesn’t? There are too many banks in the US anyway. If community or regional banks fail, replace them with postal banking or FedAccounts if you’re concerned about lack of deposit account options. https://www.npr.org/2023/05/16/1176513695/does-the-u-s-have-too-many-banks https://www.npr.org/2023/05/16/1176513695/does-the-u-s-have-... https://www.congress.gov/bill/116th-congress/senate-bill/3571/text https://www.congress.gov/bill/116th-congress/senate-bill/357...
- diogenescynic 3y agoThis is Accelerationism and I don't think it will actually lead to a better outcome--almost certainly will just lead to fewer/larger banks and not postal banking. I cannot see a slight chance of postal banking ever happening in the US when we can't even agree on other more fundamental things. Just look at who spends the most on lobbying. Congress isn't going to bite the hand that feeds them. So good luck.