BREAKING: Federal Government To Bailout Failing Bank With Billions Of Taxpayer Dollars

[Seoul Gleou]

they sent money to cacs in ukraine
they bail out billionaires who are already evading taxes

but they wont bail you out on student loans, they won't give you tax breaks

 

[DaPresident]

Help those who don't truly "need it" but let those who TRULY need it, suffer.


The country we live in




Edit: I had more to say. Ish pisses me off. They call medicare and social security "handouts" but give literal hand outs to everyone else. ISH is so frustrating

 

[jilla82]

its not comparable to the student loan debt issue.

it would be comparable if when you took out the loan the bank never gave you the money and you now owed the school and bank money.

 

[RageKage]

(going to reserve my comment for more details)

 

[Swirv]

 

[ba'al]

Socialism for the rich, cold hard capitalism for the rest

 

[Mike809]

They trying to bail us out on student loans but we all know whose trying to stop that.

 

[CopiousX]

Literal rich people being saved from their bad decisions over hundreds of thousands of dollars, but a damn teacher or firefighter with 20k of loans cant get helped?

 

[Cereal_Bowl_Assassin]

Yeah this is one of those times that I need to see the details. They are trying to bail out individuals that are suffering from student loans but they are receiving push back.

I kind of understand this because its saving a lot of jobs..idk

 

[Sad Bunny]

 

[kevm3]

These banks can continue to do risky things because they know they will get bailed out. On the other hand, we'll have to brace for a financial collapse if we just let all of these banks fail. A lot of companies won't be making payroll if this bank doesn't get 'bailed out'.

 

[Swirv]

Fools had me throwing pillows at the couch lol

Joint Statement by Treasury, Federal Reserve, and FDIC

Washington, DC -- The following statement was released by Secretary of the Treasury Janet L. Yellen, Federal Reserve Board Chair Jerome H. Powell, and FDIC Cha

www.federalreserve.gov

Washington, DC -- The following statement was released by Secretary of the Treasury Janet L. Yellen, Federal Reserve Board Chair Jerome H. Powell, and FDIC Chairman Martin J. Gruenberg:

Today we are taking decisive actions to protect the U.S. economy by strengthening public confidence in our banking system. This step will ensure that the U.S. banking system continues to perform its vital roles of protecting deposits and providing access to credit to households and businesses in a manner that promotes strong and sustainable economic growth.

After receiving a recommendation from the boards of the FDIC and the Federal Reserve, and consulting with the President, Secretary Yellen approved actions enabling the FDIC to complete its resolution of Silicon Valley Bank, Santa Clara, California, in a manner that fully protects all depositors. Depositors will have access to all of their money starting Monday, March 13. No losses associated with the resolution of Silicon Valley Bank will be borne by the taxpayer.

We are also announcing a similar systemic risk exception for Signature Bank, New York, New York, which was closed today by its state chartering authority. All depositors of this institution will be made whole. As with the resolution of Silicon Valley Bank, no losses will be borne by the taxpayer.

Shareholders and certain unsecured debtholders will not be protected. Senior management has also been removed. Any losses to the Deposit Insurance Fund to support uninsured depositors will be recovered by a special assessment on banks, as required by law.

Finally, the Federal Reserve Board on Sunday announced it will make available additional funding to eligible depository institutions to help assure banks have the ability to meet the needs of all their depositors.

The U.S. banking system remains resilient and on a solid foundation, in large part due to reforms that were made after the financial crisis that ensured better safeguards for the banking industry. Those reforms combined with today's actions demonstrate our commitment to take the necessary steps to ensure that depositors' savings remain safe.

I wonder how this doesn’t impact taxpayers.

**ok I see how this will work now. The money provided to make depositors whole will come from when the bank and its parts are auctioned. Whatever is recovered should get the government monies back.

 

[TAYLONDO SAMSWORTHY]

its not comparable to the student loan debt issue.

it would be comparable if when you took out the loan the bank never gave you the money and you now owed the school and bank money.

Student loans is 100% predatory lending

 

[Seoul Gleou]

its not comparable to the student loan debt issue.

it would be comparable if when you took out the loan the bank never gave you the money and you now owed the school and bank money.

you're right. it would be easier for the US government to bail out people with student loans than it would to bail out 'victims' of irresponsible and incompetent unregulated banks.

it's better to show than to tell

at least 15 million people will no longer have debt or have significantly less debt.

if another round of 10k or even higher comes through, millions of people will no longer be in debt

 

[Seoul Gleou]

These banks can continue to do risky things because they know they will get bailed out. On the other hand, we'll have to brace for a financial collapse if we just let all of these banks fail. A lot of companies won't be making payroll if this bank doesn't get 'bailed out'.

Moral Hazard

In economics, the term “moral hazard” refers to a situation where a party lacks the incentive to guard against a financial risk due to being protected from any potential consequences.


they KNOW they'll get bailed out so they keep doing this shyt and pissing in tax payers' faces. enough is enough