Re:America’s banks are missing hundreds of billions of dollars
by theowawayfed on Wednesday March 22, 2023 @08:33AM
(#35260048)
Yea. Depositors should never try to take their money out. How dare they ask their money back.
Re:America’s banks are missing hundreds of billions of dollars
by mschuster91 on Wednesday March 22, 2023 @08:52AM
(#35260228)
It's one thing to take your money out. It's another thing to sound a bullhorn and make everyone rush to take their money out, because that will overwhelm any bank.
What Thiel did was beyond irresponsible. He should be criminally tried.
The cause of the inflation is not a classic spiral, it's profiteering especially on the side of fossil fuel producers and in retail.
> 5. A bunch of VCs decide they'd like their money back today, not in 20 years. A bank doesn't have it on hand, so it goes under.
It's not "a bunch of VCs", it's "GQP-allied Peter Thiel wants to see the world burn just to create additional mess for the Biden gov't and causes a bank run".
> SVB is certainly not blameless here, but the Fed's money printer and the government's wildly excessive stimulus has to be one of the worst policy errors since the 2007/08 financial crisis.
Without the "excessive" stimulus packages, economies across the Western nations would have been devastated by Covid. It was bad enough with the stimulus packages, I don't even want to imagine how it would have turned out without them.