Post ATeRr3DCClnrGXmIUa by tprophet@defcon.social
(DIR) More posts by tprophet@defcon.social
(DIR) Post #ATeRr3DCClnrGXmIUa by tprophet@defcon.social
2023-03-15T17:31:12Z
1 likes, 4 repeats
Your periodic reminder that bailing out Silicon Valley Bank cost more than the entire US food stamp program, and happened overnight with zero debate.
(DIR) Post #ATeRr3pTuQQbBHgsAS by CatDragon@mastodon.world
2023-03-15T20:54:15Z
0 likes, 0 repeats
@tprophet they weren’t bailed out by the government but by the FDIC. That said banks that contribute to it will probably raise fees to cover the cost.
(DIR) Post #ATeS09hrQZS20ySkam by artesianspring@geekdom.social
2023-03-15T20:03:24Z
0 likes, 0 repeats
@tprophet yep! Your taxpayer dollars at work.
(DIR) Post #ATeS0ABddrGpVKOX0S by tprophet@defcon.social
2023-03-15T20:11:52Z
0 likes, 0 repeats
@artesianspring This wasn't tax dollars, it was the FDIC trust fund. But you're paying for it with higher bank fees and lower interest. VCs got to pick all of our pockets.
(DIR) Post #ATeS0Ag7oVen1sesWe by artesianspring@geekdom.social
2023-03-15T20:18:01Z
0 likes, 0 repeats
@tprophet and the FDIC trust fund is funded by…
(DIR) Post #ATeS0BBfvCtUbjQ4hc by CatDragon@mastodon.world
2023-03-15T20:55:53Z
0 likes, 0 repeats
@artesianspring @tprophet it’s funded by banks, the FDIC is not a government entity.
(DIR) Post #ATebmU9HcrtYu2PSPg by artesianspring@geekdom.social
2023-03-15T22:45:28Z
0 likes, 0 repeats
@CatDragon @tprophet all American entities are government and your dollars are in there somewhere whether we realize that or not
(DIR) Post #ATee6NirQa3WfkfKue by CatDragon@mastodon.world
2023-03-15T23:11:29Z
0 likes, 0 repeats
@artesianspring @tprophet seriously that’s not how agencies like the FDIC or the Farm Credit system work. They’re heavily regulated but they are not subsidized outside of their subscribers.