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Topic	U.S. gov't used $12.7 billion to bail out 10 wealthiest depositors at SVB
amcdc79 06/27/23 12:11:04 AM #12:	streamofthesky posted... I decried the decision to protect above the FDIC limit and pointed out that the vast majority of the accounts at SVB was above the FDIC limit and in the millions of dollars or more, and the (261) board proceeded to simp for millionaires and billionaires, simply b/c Biden was doing the bail out, so they felt the need to defend it. It was fucking surreal. But even in my complaints about it, I didn't realize the scale of the reverse Robin Hood going on was THAT bad! This is absolutely fucking disgusting, and fuck the Biden admin for selling us all down the river to bail out the 0.01%. While I agree that the bailout is disgusting, you are blaming the wrong administration for the mess. The Trump administration relaxed the rules that allowed the SVB board to play poker with their members deposits. They could not have done it under the rules set by Obama. Why isn't the whole board in jail right now? --- Going to church doesn't make you a Christian any more than standing in a garage makes you a car. <cite>amcdc79 posted [p:974449559] in U.S. gov't... [t:80491137]...</cite> <quote>streamofthesky posted... </cite><quote>I decried the decision to protect above the FDIC limit and pointed out that the vast majority of the accounts at SVB was above the FDIC limit and in the millions of dollars or more, and the (261) board proceeded to simp for millionaires and billionaires, simply b/c Biden was doing the bail out, so they felt the need to defend it. It was fucking surreal.But even in my complaints about it, I didn't realize the scale of the reverse Robin Hood going on was THAT bad! This is absolutely fucking disgusting, and fuck the Biden admin for selling us all down the river to bail out the 0.01%.</quote>While I agree that the bailout is disgusting, you are blaming the wrong administration for the mess. The Trump administration relaxed the rules that allowed the SVB board to play poker with their members deposits. They could not have done it under the rules set by Obama. Why isn't the whole board in jail right now? --- Going to church doesn't make you a Christian any more than standing in agarage makes you a car.</quote> ... Copied to Clipboard!
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