Posted on Mar 13, 2023
Biden admin's response to Silicon Valley Bank collapse is the 'greatest form of corporate...
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Why does President Biden and his Administration always have to lie to us? Any money over the FDIC Insured $250,000 limit is a bail out. Now I'm not necessarily against a bailout, but at least look at the problem and let us know the rules you are going to distribute tax money tax money by and what are the terms for repayment. There is a right way and a wrong way to take actions. Why does President Biden and his Administration always choose the wrong way.
Thank God for people like Tim Scott. He is a breath of fresh air and speaks common sense.
Thank God for people like Tim Scott. He is a breath of fresh air and speaks common sense.
Biden admin's response to Silicon Valley Bank collapse is the 'greatest form of corporate...
Posted from foxnews.com
Banking
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Posted 1 y ago
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SFC (Join to see)
You have that right sir. Before President Biden starts bailing out his buddies, he should at least have his FDIC put together some standards and announce, "a program". No one should just jump with both feet into a problem before they take a proper look at it to see possible consequences of their actions.
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More fake news from Fox
The facts of Biden's remarks:
"Americans can have confidence that the banking system is safe," Mr. Biden said in brief remarks from the White House. "Your deposits will be there when you need them. Small businesses across the country that deposit accounts at these banks can breathe easier knowing they'll be able to pay their workers and pay their bills, and their hard-working employees can breathe easier as well."
Important:
Mr. Biden reiterated during his remarks that "no losses will be borne by the taxpayers," and said the money will instead come from fees that banks pay into the Deposit Insurance Fund."
And;
"Investors in the banks, however, will not be protected, the president said, and management will be fired.
"They knowingly took a risk, and when the risk didn't pay off, investors lose their money. That's how capitalism works," Mr. Biden said.
https://www.cbsnews.com/news/joe-biden-silicon-valley-bank-collapse-watch-live-stream-today-2023-03-13/
The facts of Biden's remarks:
"Americans can have confidence that the banking system is safe," Mr. Biden said in brief remarks from the White House. "Your deposits will be there when you need them. Small businesses across the country that deposit accounts at these banks can breathe easier knowing they'll be able to pay their workers and pay their bills, and their hard-working employees can breathe easier as well."
Important:
Mr. Biden reiterated during his remarks that "no losses will be borne by the taxpayers," and said the money will instead come from fees that banks pay into the Deposit Insurance Fund."
And;
"Investors in the banks, however, will not be protected, the president said, and management will be fired.
"They knowingly took a risk, and when the risk didn't pay off, investors lose their money. That's how capitalism works," Mr. Biden said.
https://www.cbsnews.com/news/joe-biden-silicon-valley-bank-collapse-watch-live-stream-today-2023-03-13/
Biden says Americans can "rest assured" banking system is secure after SVB collapse
Biden administration officials announced a series of emergency moves to reassure the public of the soundness of the financial system.
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SFC (Join to see)
Good afternoon Stan. As usual you are too concerned and obsessed with “who” is reporting instead of the factual correctness of what is reported and what we can independently verify. You appear to trust the word of politicians you like and their administrators to a point of dismissing everything you learned in school.
The article you provided seizes on the word “investment” and tries to give President Biden a hair to split so as not call his actions a “bailout plan”. They miss the mark. The article also says “The FDIC is running day-to-day operations of Signature Bank, New York Gov. Kathy Hochul said Monday, and all deposits, including those above the agency's $250,000 insurance cap, will be protected.”.
As we know the $250,000 insurance cap is the key, to be more specific: The FDIC wants to make sure it can cover everyone with a bank account, so to make that happen, it caps how much money it insures. The FDIC says its standard is to cover up to “$250,000 per depositor, per insured bank, for each account ownership category.1. I provide a site where you can review the rules.
Now if I am reading what President Biden has ordered the FDIC Funds to cover all funds in excess of $250,000.00. Where is the FDIC/President Biden getting all this extra money? Well without them specifically saying: we can only assume the FDIC was ordered to skim the money from all other insured accounts. What happens if other banks go into receivership? Well then there might not be enough FDIC Insurance Money because President Biden ordered too much money to be spent on these first accounts at banks that he favors. I respectively submit this is no way to run a Country or a business.
I asked you after you yanked my chain the other day when you were unwilling to watch unedited videos of January 6th and still try to remain in the conversation uninformed as to what actually happened, to please stop commenting on my posts with political half-truths. My time is too valuable for that.
https://www.fdic.gov/resources/deposit-insurance/financial-products-insured/
The article you provided seizes on the word “investment” and tries to give President Biden a hair to split so as not call his actions a “bailout plan”. They miss the mark. The article also says “The FDIC is running day-to-day operations of Signature Bank, New York Gov. Kathy Hochul said Monday, and all deposits, including those above the agency's $250,000 insurance cap, will be protected.”.
As we know the $250,000 insurance cap is the key, to be more specific: The FDIC wants to make sure it can cover everyone with a bank account, so to make that happen, it caps how much money it insures. The FDIC says its standard is to cover up to “$250,000 per depositor, per insured bank, for each account ownership category.1. I provide a site where you can review the rules.
Now if I am reading what President Biden has ordered the FDIC Funds to cover all funds in excess of $250,000.00. Where is the FDIC/President Biden getting all this extra money? Well without them specifically saying: we can only assume the FDIC was ordered to skim the money from all other insured accounts. What happens if other banks go into receivership? Well then there might not be enough FDIC Insurance Money because President Biden ordered too much money to be spent on these first accounts at banks that he favors. I respectively submit this is no way to run a Country or a business.
I asked you after you yanked my chain the other day when you were unwilling to watch unedited videos of January 6th and still try to remain in the conversation uninformed as to what actually happened, to please stop commenting on my posts with political half-truths. My time is too valuable for that.
https://www.fdic.gov/resources/deposit-insurance/financial-products-insured/
FDIC: Are My Deposit Accounts Insured by the FDIC?
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MSG Stan Hutchison
Don't like my proof, block me. Typical. By the way, those were not unedited videos of January 6th. They were highly edited videos.
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