Joint Statement by the Department of the Treasury, Federal Reserve, and FDIC

Re:Joint Statement by the Department of the Treasury, Federa... by dragonwriter on Sunday March 12, 2023 @07:15PM (#35127918)

“Banks” are legal fictions, abstraction that serve as tools for shareholders, “Banks won’t pay, but…shareholders…will” is a fundamental misunderstanding of what banks are.

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Re:Joint Statement by the Department of the Treasury, Federa... by hnburnsy on Sunday March 12, 2023 @07:47PM (#35128339)

Thanks for letting me know my shares of JPM aren't really paying me a quarterly dividend. Should I just send these fictions back to 270 Park Ave?

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Re:Joint Statement by the Department of the Treasury, Federa... by dragonwriter on Sunday March 12, 2023 @07:52PM (#35128391)

No, I’m telling you “JPM” is just an abstraction for you (the shareholders collectively, not just you personally).

That periodically the profits associated with that abstraction are distributed to you is a function of that, not a disproof of it.

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