Do you think FDIC/Fed/Treasury have legal authority to bail out damn-fool large depositors at SVB?
Please cite Fed law and regs to that effect.
Moving on: Yellen admitted what the scheme really is.
...During her testimony, Secretary Janet Yellen admitted that smaller regional banks across the country will not be bailed out by the US government. Only larger banks will be bailed out like Silicon Valley Bank and their depositors from China connected to the Chinese Communist Party. You really wouldn’t believe it unless you heard it for yourself.
Senator James Lankford, Republican from Oklahoma, grilled Yellen on who will be bailed out by the federal government and who will not. Lankford pointed out that the Biden-Yellen plan will force Americans to take money out of smaller banks and deposit it in the chosen banks the government has deemed worthwhile of protecting....
Lankford never got around to asking for the Fed statutes/regulations allowing this.
Wish he did.
The Senate is full of republican traitors and so I don’t need to hear what those jackwads have to say… I imagine they’re gonna buy her scheme, hook line and sinker
ReplyDeleteWhat I’m curious about is what the Republicans in the House of Representatives are going to do?
If I am not mistaken, they can refuse to fund a tarp style bail out.
Correct me if I’m wrong, please.
Greg
Great Meme
ReplyDeletehttps://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhCj1pQKy0FT0yUvqgcWpSulW2LFeQPx4OsNQZ5oUHuDNEWirxrFKoMB-c5lLiy248veP66X-CdX0SMjUQdV6weGPQG9ACpdUKH1MOlJrxMgO87p7iW67DCsMl1c7BWQt8HGCrjuyZhKa_nf6pC-PMz4ab6zPuuw6L261nFc8Pi8EmiP1aeliQuswp6/w400-h400/10.jpg