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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