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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 xdennis on Monday March 13, 2023 @02:03PM (#35139785)
It's not punishment. You know that when you put your money in a bank there's a change you won't get it back. That's why you're supposed to pick a bank you're okay with.

That's how it is with everything. If a farmer plants some crops but it drops in price to the point it's completely unprofitable, is he being punished for growing food? Does the government bail him out?

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Re:Joint Statement by the Department of the Treasury, Federa... by zamnos on Monday March 13, 2023 @02:06PM (#35139830)
Ah I mean if you really want to get into farming, farmers get paid by the US government and your taxes to not grow things.
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Re:Joint Statement by the Department of the Treasury, Federa... by phailhaus on Tuesday March 14, 2023 @12:52AM (#35147593)
That's not a great analogy. The farmer is the bank in our case, and yes, it is going under. It should. The question is, should all these local grocers go under too because they had exclusive relationships with that farmer? Some would say yes, they should have diversified their base of farmers. I've learned that "insured sweep accounts" are something that should be used by startups to insure them for more than 250k.
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