Unbelievable.
22 replies (most recent on top)
Banks shouldn't need to be bailed out in the first place. The root of THAT problem is what needs to be solved.
I doubt that the government made the big banks bail out FR, and I also doubt that the big banks did it to "save the economy". It's far more likely that the elites in the C-suites stood to personally lose if FR went under. Likely there are a lot of "well connected" people pulling their money out right now...
We are all in this together 💕💕 one psyop at a time
You don’t get to any sort of power or Dane without selling your soul. You don’t want to know what that involves or what that means for the rest of us with a conscience. These elites hate us. When will you see that? It’s us against them now.
4 banks failed last year and there's no worries about "contagion", but 2 fail this year and we HAVE to give other banks money? Makes sense.
The see-sawing reactionary approach of gov't financial regulations is something that needs to be addressed. Until we can find some common ground, vicious cycles will continue. The good times are amazing and bad times are amplified on the lower/middle classes.
Zero trust out there, a lot of greed. As soon as someone gets their payday, suddenly it becomes impossible to remember what it was like to struggle.
I have a feeling that Scarfy wants To buy First Republic. That will be his baby. Just like Di-k K merged with Wells and Stumpy with Wachovia. Now, Scarfy wants to play merge games. The $9.5 billion shelf a few days ago might be related to a merger transaction imo. They already loaned $5 billion and I think the other 4.5 billion plus the $5 billion, total of 9.5 billion will use to buy First R. I think it would be a huge mistake but I am predicting this outcome.
Post ID: @1jhc+1lFfa7k9
Please do share since you seem to think you are smarter than the OP.
Surely you realize this is all funny money.
Right?
You are in banking, right?
Sounds like Wells may be getting 4.75% on those deposits. Can't really say it isn't insured because the Fed already came out on basically disregarded the FDIC cap. So I guess from now on there is no longer a $250k cap. This is a terrible precedent to set
Charlie told me he wants to protect First Republic’s employees from getting laid off 😉.
So what if we gave it to them. Prevents bank run infecting WF. Saves your job.
Give away 5 bil but we get stuck with cr-p VDI
we're probably getting the same rate that we give our customers, 0.01% apy
I must have missed what the rate of return is on the $5 billion we gave them. Where is the transparency?
We’re all in this (programming) together 💕
Charlie must have a buddy at First Republic else why would he even care after all the employees he has forced out the door in the name of profits.
Who is going to bailout Second Republic and Third Republic. Bad banks need to fail.
"Don't bail out banks!" sounds great, in principle. In reality, not doing so would doom our financial system. Was true in 2008, is true now. Whether a bank should be allowed to become too big to fail is another discussion, however.
very short sided comment. One we aren't giving it to them, just depositing our own companies money, albeit uninsured. However, not doing so and increasing the chances FRC goes under would cost us and all the other banks a lot more.
And when the tide go out we'll see who is swimming na--d.
A rising tide lifts all boats
Why not? All we had to do was borrow it from the Fed first.