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

Re:Joint Statement by the Department of the Treasury, Federa... by ojbyrne on Monday March 13, 2023 @12:26AM (#35131055)

Define “invest.” Banks invest. That’s literally what they do. People deposit their money rather than put it under their mattress, and the banks reward them by giving extra money to them.

Then the banks figure out a way to put that money somewhere else that rewards them more than what they are giving the depositors.

Basically that’s the foundation of civilization.

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Re:Joint Statement by the Department of the Treasury, Federa... by citizen_friend on Monday March 13, 2023 @12:46AM (#35131208)

The point is, why doesn't the government just capture that revenue? Instead we are letting private companies keep those earnings, without taking on any risk.

Let's deposit at the bank of USA and cut out the middle man.

> Basically that’s the foundation of civilization

I think many of us would disagree.

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Re:Joint Statement by the Department of the Treasury, Federa... by Panzer04 on Monday March 13, 2023 @03:32AM (#35132330)

Because then it’s quite easy to end up with rampant corruption. By and large, well-regulated private banks work pretty well.

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Re:Joint Statement by the Department of the Treasury, Federa... by bumby on Monday March 13, 2023 @02:17PM (#35140020)

I think the idea that they work pretty well went out the window in most people’s mind when they threatened to crash the world economy 15 years ago.

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