Silicon Valley Bailout Package Contents
To celebrate the 3rd anniversary of COVID, and the Iraq War’s 20th, we’re being treated to a celebration of the 2008 economic collapse’s 15th with the government’s response to Silicon Valley Bank’s failure.
FDIC normally only insures deposits up to $250,000, but since SVB was the preferred bank of the economy’s whiniest libertarians, they’re getting a full bailout. Even the ones so opposed to diversity, they refused to diversify their accounts.
Printing money out of thin air is considered a laughable and juvenile response to the debt ceiling, yet it was done throughout the the post-2008 recovery by minting money to keep banks afloat and saying the magic/obfuscating words, “quantitative easing.”
The regulations that could’ve prevented this current wave of bank failures were rolled back during the Trump administration, but not without the help of many greedy/shortsighted Democrats.
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