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A comment on Joint Statement by the Department of the Treasury, Federal Reserve, and FDIC. Parent comment

Re:Joint Statement by the Department of the Treasury, Federa... by Cyph0n on Sunday March 12, 2023 @07:42PM (#35128267)
FDIC is arguing that taxpayers will not be affected because they are bankrolling this backstopping operation by forcing other banks to cover losses beyond the limit.

But banks will most likely recover this imposed “fine” from customers, which means that customers (aka: taxpayers) are the ones who are ultimately bankrolling this whole fiasco.

[ Parent | on HN ]
Re:Joint Statement by the Department of the Treasury, Federa... by yibg on Sunday March 12, 2023 @08:25PM (#35128795)
I get what you're saying. But by that token any fines that are levied against banks are also paid by taxpayers. So if you're saying that this move is wrong since it puts the burden on taxpayers, then we shouldn't fine banks either?
[ Parent | on HN ]
Re:Joint Statement by the Department of the Treasury, Federa... by Cyph0n on Sunday March 12, 2023 @08:34PM (#35128897)
The only thing I’m saying is that - technically - taxpayers are footing this bill, even if FDIC claims otherwise. Whether or not this backstop should have even happened in the first place is a different issue.
[ Parent | on HN ]