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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 ProjectArcturis on Sunday March 12, 2023 @09:04PM (#35129171)
But what it really incentivizes is putting all your money in a too-big-to-fail bank. That's much easier and just as safe as opening a dozen, or hundreds of accounts. And it results in there being 3 banks in the whole country.
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Re:Joint Statement by the Department of the Treasury, Federa... by politician on Sunday March 12, 2023 @10:13PM (#35129948)
There is, in truth, only one “bank” in this country. The Federal Reserve Banks that hold the master ledger for the official US Dollar market. Everything else downstream is basically redundant legacy infrastructure from a time before pervasive broadband network infrastructure.
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Re:Joint Statement by the Department of the Treasury, Federa... by ProjectArcturis on Monday March 13, 2023 @01:34PM (#35139285)
That would be news to anyone who actually works in finance.
[ Parent | on HN ]