The collapse of three major US banks has sent a shockwave through the US, with critics of the financial system worried the government’s bailout will cascade into something far worse.
Naw, it's safe and effective. Trust the science.
The failure of both Silicon Valley Bank and the New York-based Signature Bank marked the biggest banking collapse since the 2008 global financial crisis.
It isn't over. I'm waiting for Deutsche bank to blow. Then JPMorgan. Their derivative exposure is epic.
America’s top finance officials stepped in and revealed a number of measures aimed at restoring confidence in the banking sector and settling turbulent markets.
Wrong. This was a criminal bailout. It also is trying to keep the Casino open a little longer.
The US is supposed to be a capitalist economy, and that‘s breaking down before our eyes
It broke a long time ago. For fun, let's just say it broke in 1971 when Nixon removed gold from our currency.
US President Joe Biden said “no losses will be borne by the taxpayers”
Liar. Well, it will be every citizen.
accusing regulators of ignoring warning signs.
This seems to be a chronic and systemic problem. And not only in finance.
described the crisis as “a perfect storm of everything wrong with our era, from corruption and financial recklessness, to bad political decision-making and corporate entitlement”.
True.
I doubt JPM will fail. The whole "too big to fail" is accurate here.
If JPM craps out, then a major player in the FED will be gone. That would cause an upset in the global central banking cartel. They don't want that to happen. I am curious what they will do.
Thanks for the article summary, btw
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