9/4/2023 0 Comments Rss feed reader iphone![]() ![]() This situation is a direct result of the Fed’s monetary policy, which kept interest rates artificially low for too long. The FDIC was never meant to guarantee all bank accounts, nor can it. This is a recipe for disaster.Īccording to Bovard’s piece, the FDIC reserves an amount of some $128 billion for all bank failures, while the total amount of bank deposits exceeds $12 trillion. The Biden administration has decided to guarantee the deposits of all Silicon Valley Bank accounts in excess of the legal $250,000 FDIC limitation. I am not an economist, but I can count ( “Bailouts Buy Trouble,” James Bovard, March 15). ![]() ![]() The Issue: The Biden administration’s guarantee of all deposits in Silicon Valley Bank after its collapse. Jamie Dimon slams US regulators for bank failures ‘hiding in plain sight’ĭon’t trust arsonist Janet Yellen to put out US banking firesīanking lobbyist bans staff from using terms like ‘bank failure’: sourcesįDIC may force big banks to plug $23B hole from Silicon Valley Bank collapse ![]()
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