Sunday 19 March 2023

FTX...Silvergate...SVB...Signature.

Hum, why has the federal government chosen to make depositors whole at SVB and Signature? And why not any other banks in the future?

Maybe, just maybe, a lot of these folks were reliable Democratic Party donors. No kidding. But then there's the other thing: crypto banks and money laundering. Funny thing is, when you make all depositors magically whole, you tend to shut tight a lot of mouths that might otherwise have run off and had plenty to say, if they suffered a financial beef. The United States government, hard at work for all of you, and with a smile! Crony capitalism at its best.

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