Tag

Bank Bailouts

All articles tagged with #bank bailouts

politics2 years ago•7 min saved

Biden's Banking Crisis: Balancing Bailouts and Climate Obsession.

President Biden's recent decision to rescue two failed banks has put him in a difficult position as he prepares for a potential second run for office in the 2024 presidential race. While bank bailouts are politically toxic, the alternative could have been even worse for Biden's poll numbers on the economy, which have shown persistent weakness. Republican 2024 hopefuls have seized on the bank rescues, with former President Donald Trump already campaigning against the Biden administration's interventions. Democrats are trying to turn the blame back on Republicans and focus on holding people accountable for the bank failures.

via NPR|

#2024-election #bank-bailouts #biden

finance2 years ago•4 min saved

Fed's Emergency Lending to Banks Reaches Unprecedented Heights

The Federal Reserve added nearly $300 billion to its balance sheet in a single week through its loan bailout program for banks, effectively loaning troubled banks $300 billion of new money that was created out of thin air. The Bank Term Funding Program (BTFP) will offer loans of up to one year in length to banks, savings associations, credit unions, and other eligible depository institutions pledging US Treasuries, agency debt and mortgage-backed securities, and other qualifying assets as collateral. The fact that banks borrowed $300 billion in just one week reveals just how unsound the US banking system is, and Americans will pay for these bank bailouts through the inflation tax.

via SchiffGold|

#bank-bailouts #federal-reserve #finance

finance2 years ago•7 min saved

Taxpayers express anger over bank bailouts and call for prevention of future crises.

Taxpayers are expressing frustration and anger over the recent bank bailouts of Silicon Valley Bank and Signature Bank, with many feeling that the financial system could be on the brink of another collapse. While depositors were paid out of a fund administered by the Federal Deposit Insurance Corporation (FDIC), which is guaranteed by the full faith and credit of the United States government, taxpayers' money is still at risk. Students and recent graduates, who have been waiting for loan forgiveness, are feeling particularly aggrieved by the VIP service provided to the financial sector by federal regulators.

via The Hill|

#bank-bailouts #finance #financial-crisis

finance2 years ago•7 min saved

Taxpayers express outrage over bank bailouts and call for prevention of future crises.

Taxpayers are expressing frustration and anger over the recent bank bailouts of Silicon Valley Bank and Signature Bank, with many feeling that the financial system could be on the brink of collapse again. While depositors were paid out of a fund administered by the FDIC, their money is still at risk, and the government's response has insured wealthy depositors well above the standard $250,000 limit. Students and recent graduates waiting for loan forgiveness are feeling particularly aggrieved, as they see the government prioritizing the financial sector over their own financial aspirations. The anger echoes the sentiment of the Occupy Wall Street movement in 2011.

via The Hill|

#bank-bailouts #finance #financial-regulation