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1. 🌲Number 1 Pleroma Criminal on XBL 🇵🇱|🇺🇸 (phenomx6@fedi.pawlicker.com)'s status on Monday, 13-Mar-2023 22:57:47 JST 🌲Number 1 Pleroma Criminal on XBL 🇵🇱|🇺🇸

   in reply to

   • Alex Gleason
   • djsumdog
   @djsumdog @alex millions of boomers believe if it's not that much it's not their issue
   Daddy government will step in
   • djsumdog (djsumdog@djsumdog.com)'s status on Monday, 13-Mar-2023 22:57:48 JST djsumdog

     in reply to

     • Alex Gleason
     I haven't been following it recently. FDIC insures all accounts (personal and corporate) for $250k ... so if a company had 30M in a bank that collapses .. they could stand to lose 29M+.
     
     Typically the federal government steps in, stops transactions, and finds a way for the bank to get bought out by another bank to accept its liabilities and keep a cash flow. In 2008, this allowed major banks to buy smaller ones. PNC bought National City in Ohio for $5 billion .. and then got a $5 billion tax credit (they got to buy National City for free on the tax payers dollar).
     
     There was an old video called Bank Eat Bank: Bailout Encourages Mergers. (Ivory. American News Project. November 21, 2008) and it use to be here: https://www.youtube.com/watch?v=_06mSZLhEhY but ANP deleted their account and it's gone now.
     
     I have no idea what the fuck they're going to try to pull this time. My personal theory: FDIC insurance won't pay people back in USD but in some new digital currency and this will be what's used to move America off the green back.
   • Alex Gleason (alex@gleasonator.com)'s status on Monday, 13-Mar-2023 22:57:49 JST Alex Gleason

     I don’t understand the Silicon Valley Bank situation. So, the government shut them down? Why? Then the government issued a press release about “increasing our trust in banking”? Also, did all those companies lose their money for good? Help me understand.