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Posted on 3/13/23 at 11:55 am to cwill
quote:
There’s no bailout. The ultimate point is you don’t understand what’s going on
Par for the course when complex financial matters and events (that are largely non political issues) are discussed on the PT board.
Posted on 3/13/23 at 12:01 pm to 632627
A lot of people proving dunning-krueger.
I cannot fathom-as a conservative-the desire to have government decide if bank depositors get the money in their checking account or not based on the bank staff’s ideological purity.
Would have to avoid any non-woke bank like the plague.
I cannot fathom-as a conservative-the desire to have government decide if bank depositors get the money in their checking account or not based on the bank staff’s ideological purity.
Would have to avoid any non-woke bank like the plague.
Posted on 3/13/23 at 12:19 pm to cwill
quote:
There’s no bailout.
There is a $250k max depositors insurance for when a bank fails. The govt has come in and adjusted that rule to help BAIL OUT of the potential negative narrative. Which was my original point...Govt stepping in to help dilute the negative news around digging in to figure out what really happened, and if their DEI/ESG policies had any factors in the demise of the bank.
Ie...to make it simple for you...the use of the "bail out" phrase has multiple uses.
Posted on 3/13/23 at 12:23 pm to KAGTASTIC
quote:When was the last time depositors above the limit lost money? FDIC almost always arranges a buyout and the new bank holds e deposits. Not really an option in th is case, b/c the bank wasn’t insolvent. There’s no discount for a purchasing bank.
There is a $250k max depositors insurance for when a bank fails.
Posted on 3/13/23 at 12:29 pm to Taxing Authority
quote:
I cannot fathom-as a conservative-the desire to have government decide if bank depositors get the money in their checking account or not based on the bank staff’s ideological purity.
And why the conservative mindset fails, because there's always a way to justify the lefties negatives when they throw a bone. No principles when it comes knocking on your door.
quote:
Would have to avoid any non-woke bank like the plague.
Some of us are doing our best to do just this. Last fall I moved my primary banking to the most non-woke local bank I could find. I have to use woke ones but Im constantly looking for new banks and will move accordingly until I can say I'm woke free in my banking.
Definitely hard though as it is hard to escape, but the govt is now bailing out the potential negative narrative surrounding this banks demise. Now banks won't learn and back off the wokeness, but keep focusing on it.
Posted on 3/13/23 at 12:35 pm to 632627
quote:
Par for the course when complex financial matters and events (that are largely non political issues) are discussed on the PT board.
But it is highly entertaining to read.
I would love to know a real number of how many PT posters were waiting at their banks doors this morning.
Posted on 3/13/23 at 12:50 pm to KAGTASTIC
quote:Nope. You missed the point. If the government regulators (run by wokeheads) get to pick and choose if depositors gets their money back based on banks perceived ideology, they’d only guarantee the woke banks. Tell me why I would want that?
And why the conservative mindset fails, because there's always a way to justify the lefties negatives when they throw a bone. No principles when it comes knocking on your door.
quote:By your logic that was a mistake. The small local bank has far lower FDIC limits than the woke big 4. So if you got what you want—you’d lose your deposits if the bank had a run.
Some of us are doing our best to do just this. Last fall I moved my primary banking to the most non-woke local bank I could find.
You’re literally advocating for non-woke banks to be at a strategic disadvantage to the huge, woke, TBTF banks.
This post was edited on 3/13/23 at 12:53 pm
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