If you want bank failures this is how you do it. I certainly will minimize how much money I keep in the bank.
Wednesday, 12 Mar 2025
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The purpose is to crash the economy and the dollar and switch the currency to Bitcoin. It’s to make the big Bitcoin bros the owners of America.
No chance the banks want to get rid of the FDIC. That is one regulation that is actually popular within the industry.
I think NIMBY Reich is just trying to scare you.
Almost makes me want to take everything out of the bank. Oh, wait. That’s what they were trying to avoid by insuring depositors and accounts up to $250,000. This time, they just want to make sure all the working class loses everything in the next crash so the banks can foreclose on all our land and property. Kinda like in the last Great Depression. Get out your pitchforks and start sharpening.
The administration’s goal of enriching Wall Street was also true 4 years ago; 8 years ago; 12 years ago; 16 years ago ……
Yes, but not all assets in banks are insured.
To say nothing of accounts over 250k… Only the first 250k is insured, and yes there are schemes to open multiple accounts across multiple banks to get better coverage, but it’s not all that common.
You mean the billionaire half of Americans voted for and his billionaire oligarch buddy (both have putin ties as well) plan to revert America back to the 1870s monopoly capitalism. Shucks if only we had signs that these guys will do this.
American voting population
What happened to protecting the public
Sounds like a good time to market my safe/mattress prototype.
Trump’s plan is to rob the Treasury and Elons goal is to be a Trillionaire.
For once I’m OK with not having any money in my account.
He’s right that FDIC abolition is dumb right now, but for the completely wrong reason. The FDIC protects not the public but also the banks. Without the threat of bank runs keeping banks restraining themselves, banks can loan more and purchase more assets. Your depositors don’t care as they know they’ll have their money protected, so most of that money can be loaned out without fear of a mass exodus from a banks creditors (depositors).
The reason it’s dumb right now is because we’ve tacked in boatloads of regulation since then that makes banks care less and less about risk, including Dodd-Frank, fiat currency, Fannie Mae & Freddie Mac, quantitative easing, and other policies that have continued to insulate banks from the consequences of their financial actions. FDIC is part of the miasma clinging to the financial sector, but it’s not a low hanging fruit that can. E easily cleaned up
Robert Reich and Paul Krogman are two people never to take economic advice from
#THE GREATEST DEPRESSION!
It’s not going to happen.
https://www.reuters.com/markets/us/trump-advisers-reported-plan-ease-banking-oversight-may-not-get-required-support-2024-12-13/
>“It would require congressional action and despite the Republican party majority in both the Senate and the House, it would require support from the Democrats which remains very unlikely,” ING sector strategist Marine Leleux wrote in a note.
>Bank stocks were little changed on Friday.
This is fakenews. Deposit insurance isn’t ending, it would just be rolled into the treasury dept.
Does that mean we stop paying income taxes?
You prevent bank failures by ending bank bailouts. The banks and the public know they’ll just get saved. If this is removed banks will actually behave themselves and not cost tax payers.
So time to buy a safe then?
This is just one person’s post on X. Is there an actual source for this, or at least several people claiming this?
lol 😂 cool story bro
Woof. I don’t imagine even rich bank execs want this. They try to find creative ways to insure MORE money, not less.
How does getting rid of FDIC help Wall Street?
For fucks sake, some of you really shouldn’t believe everything you read on the internet
A reminder that American banks won’t loan or do any business with Trump because he’s such a risk. He drove multiple casinos into the ground, a business which is basically a license to print money.
The goal of banking deregulation is likely so he can commit fraud and embezzlement, as well as make illegal deals with entities the US has banking laws about which prevent him getting dirty money.
Wants to abolish the FDIC and establish basically the equivalent for [bitcoin](https://www.congress.gov/bill/118th-congress/senate-bill/4912)
People really believe anything they read 🤣
That’s been happening way before trump was in power.
Bank consolidations on the horizon.
Are we just going to ignore that the idea is to just merge it with the treasury department?
But surely those immigrants will be gone while the egg and gas prices will drop! /s
This idiot still trying to be relevant after being in Clinton’s administration
Prove it