Yellen Admits CCP-Linked Silicon Valley Depositors Will Be Bailed Out by U.S. Banks

[tres borrachos]

Janet Yellen admits that overseas depositors linked to the Chinese Communist Party will be bailed out by the US banking system (which the American people are hostages to):

Yellen Admits CCP-Linked Silicon Valley Depositors Will Be Bailed Out by U.S. Banks | National Review

‘I don’t believe there is any legal basis to discriminate among uninsured depositors,’ Yellen stated.

www.nationalreview.com

CCP-linked Silicon Valley Bank depositors could be 'made whole' by US: Yellen

Treasury Secretary Janet Yellen said that Chinese Communist Party-linked (CCP) depositors of Silicon Valley Bank could be "made whole" by the U.S. banking system.

www.foxbusiness.com

So if Russian depositors linked to Putin had money in SVB, should they be bailed out?

This is why I don't approve of bot posting. Janet Yellen ADMITTED NO SUCH THING. She used words like "may". Borrow the bot translator from Svetlana so you understand simple words.

 

[Paradoxical]

First, FDIC is $250,000 per account, not total in the bank.
Second, that isn't practical for companies like ADP, who collect different companies monies and put it in one account to write all the checks. If they weren't protected, workers wouldn't get paid.
Third, this makes the case for increasing the limit on FDIC insurance but you want to eliminate FDIC. That's the way it was in 1929 and it didn't go well.

PRIVATE as opposed to ME paying for it. Why are you opposed to that?

 

[MTAtech]

PRIVATE as opposed to ME paying for it. Why are you opposed to that?

You don't pay for FDIC insurance. It's a cost to the bank.

 

[Napoleon]

Your narrative is absurd, Namely, that narrative is that since the FDIC protects depositors, wouldn’t it be terrible if China or Russia were depositors and they would get made whole by FDIC.

Is it? SVB was the primary bank for Chinese startups. Why should we force American banks to bail out the foreign competitors of American startups because they made a stupid financial decision in keeping all their money at SVB?

 

[tres borrachos]

Your narrative is absurd, Namely, that narrative is that since the FDIC protects depositors, wouldn’t it be terrible if China or Russia were depositors and they would get made whole by FDIC.

Not only is it absurd, he, like many others, doesn't know what the hell he is posting about.

Here is the rule in banking. Unless an OFAC check shows you are a politically compromised person, a bank will take your money. If the FDIC has to honor its insurance pledge on your money, there is not "Well, except if you're Chinese - then we don't like you so **** off."

These people posting about the Chinese don't realize that the CHINESE DEPOSITS IN THE BANK WERE USED TO FUND LOANS TO ALL KINDS OF BUSINESSES ALL OVER THE COUNTRY.

The ignorance burns. The Chicago fire didn't burn as much as the ignorance on this board.

 

[Paradoxical]

You don't pay for FDIC insurance. It's a cost to the bank.

I only care about the amount over the 250K.

You know this and are making a diversionary argument. The FDIC did NOT charge any bank(s) for insurance of over 250K.

You know this also.

 

[tres borrachos]

You don't pay for FDIC insurance. It's a cost to the bank.

Proof positive, again, of the ignorance of posters on this board.

No taxpayer is going to pay a red cent for SVB's collapse - neither for the FDIC insurance nor any other deposits that may get covered.

It's also a reminder of how badly the right hates start ups. Remember when they used to just love the job creators?

 

[Nickyjo]

I didn't miss your point at all, which was and is a diversion asking if I think the FDIC should be eliminated. I actually do but that is not what the premise of my argument is, and I am saddened that those on the left just don't seem to grasp the importance of morals in a society today.

Mambo is another far leftist (I believe "progressive is just an attempt to flower up Marxism, socialist, Communist, far left) who suggested anyone who was not in favor of the taxpayers bailing out the "rich" would create a run on the banks.

There is a $250,000 limit per bank, meaning that rich people who are smart would know this and armed with that knowledge would have money in several or more banks, and if they had more money than that could own physical gold, silver and keep millions of that commodity in safe deposits at several banks with the rest overseas or in stocks and bonds and mutual funds.

BUT...........since the failed bank was hard left progressive and the rich depositors were politicians and connected wealthy that donated to them, the left is all for me bailing out the rich who did not exercise personal responsibility. But lack of personal responsibility is championed by the Progressive with abortion, school loan forgiveness, CRT, equity training, lowering of requirements for police and other government jobs.

So Progressive Teddy Roosevelt was a Marxist, socialist communist? (Socialist might have some traction, given his trust-busting and love of national Parks.). But your world view is slightly paranoid, don’t you think?: you are right and everyone else is a commie. We got over that way of thinking with Joe McCarthy’s downfall, remember? But it provides a whiff of 1950s nostalgia for the old times, when the Cincinnati baseball team changed their name from Reds to Redlegs, lest they be hauled before some committee in DC.

 

[MTAtech]

Not only is it absurd, he, like many others, doesn't know what the hell he is posting about.

Here is the rule in banking. Unless an OFAC check shows you are a politically compromised person, a bank will take your money. If the FDIC has to honor its insurance pledge on your money, there is not "Well, except if you're Chinese - then we don't like you so **** off."

These people posting about the Chinese don't realize that the CHINESE DEPOSITS IN THE BANK WERE USED TO FUND LOANS TO ALL KINDS OF BUSINESSES ALL OVER THE COUNTRY.

The ignorance burns. The Chicago fire didn't burn as much as the ignorance on this board.

As long as you want to pick and choose who gets FDIC benefits, how about we don't payoff anyone that engaged in an insurrection against the nation?

 

[Paradoxical]

So Progressive Teddy Roosevelt was a Marxist, socialist communist? (Socialist might have some traction, given his trust-busting and love of national Parks.). But your world view is slightly paranoid, don’t you think?: you are right and everyone else is a commie. We got over that way of thinking with Joe McCarthy’s downfall, remember? But it provides a whiff of 1950s nostalgia for the old times, when the Cincinnati baseball team changed their name from Reds to Redlegs, lest they be hauled before some committee in DC.

You are doing your best to master diversion and deflection by homing in on side issues instead of the main point. If the people that had money in SVB were Trump. Carlson, Murdoch, etc. and they were bailed out, you would screaming bloody murder (and so would I)

What this amounts to is a TAXPAYER bailout of rich snobs and leftist politicians like Newsom and because of that it draws a snooze from the (ahem) "Progressives."

It is costing is billions and when Trump wanted just 5 billion to keep freeloaders out of America, that was too much.

When will Biden's spending spree ever end??

The FDIC should be abolished

 

[tres borrachos]

As long as you want to pick and choose who gets FDIC benefits, how about we don't payoff anyone that engaged in an insurrection against the nation?

Excellent idea. I mean, why not? Let's not stop at "I don't like the Chinese". Hell, let's tell depositors from every country to get bent. Every industry we don't like. Your money comes from the legal porn industry? Cut you off. You own a cannabis farm. NO money for you.

I'm so sure the right would support not making whole anyone from the gun industry if Yellen doesn't like them or their business, right?

Oh hell. Let's just make it so that you can't deposit your money in an American bank unless you are a white, straight, Christian. Preferably a male.

 

[Nickyjo]

You are doing your best to master diversion and deflection by homing in on side issues instead of the main point. If the people that had money in SVB were Trump. Carlson, Murdoch, etc. and they were bailed out, you would screaming bloody murder (and so would I)

No I wouldn’t. If it was deemed appropriate to bail out those folks, just like or they bailed out other businesspeople, no problem.

What this amounts to is a TAXPAYER bailout of rich snobs and leftist politicians like Newsom and because of that it draws a snooze from the (ahem) "Progressives."

Amazing that you figured out that all of those bailed out were leftists. I didn’t know that. What’s your source? Trump lost big, but got 20% of votes in the area, over 250,000 in the two relevant counties.

It is costing is billions and when Trump wanted just 5 billion to keep freeloaders out of America, that was too much.

When will Biden's spending spree ever end??

The FDIC should be abolished

No thanks in the FDIC. We learned our lesson in the depression. And really, freeloaders. How often do you and your family and neighbors cut cane, pick lettuce, prune vines, clean motel rooms, etc. These folks subsidize our food and lifestyle. You might call us the freeloaders.

And spending? Conservatives grumble about it, but never do much of anything. Posted before: democrats tax and spend, republicans spend but don’t tax.

 

[Paradoxical]

No I wouldn’t. If it was deemed appropriate to bail out those folks, just like or they bailed out other businesspeople, no problem.

Amazing that you figured out that all of those bailed out were leftists. I didn’t know that. What’s your source? Trump lost big, but got 20% of votes in the area, over 250,000 in the two relevant counties.

No thanks in the FDIC. We learned our lesson in the depression. And really, freeloaders. How often do you and your family and neighbors cut cane, pick lettuce, prune vines, clean motel rooms, etc. These folks subsidize our food and lifestyle. You might call us the freeloaders.

And spending? Conservatives grumble about it, but never do much of anything. Posted before: democrats tax and spend, republicans spend but don’t tax.

Like the people who took out student loans, did these intelligent college educated rich leftists (Think Silicon Valley) not know about the $250,000.00 limit?

 

[Nickyjo]

Like the people who took out student loans, did these intelligent college educated rich leftists (Think Silicon Valley) not know about the $250,000.00 limit?

What’s your point? Why not forgive student loans? More money into the economy. In many other countries, college is free.

 

[Paradoxical]

What’s your point? Why not forgive student loans? More money into the economy. In many other countries, college is free.

Why not two trillion more then?