Poll: What is your opinion of US Gov’s response to SVB?
For context, see: Joint Statement by the Department of the Treasury, Federal Reserve, and FDIC
https://home.treasury.gov/news/press-releases/jy1337
https://home.treasury.gov/news/press-releases/jy1337
2 comments
[ 2.9 ms ] story [ 16.0 ms ] threadIf the Federal Government were to guarantee that banks could engage in criminal levels of financial irresponsibility whilst pursuing profit and yet any disastrous fallout would be borne by the taxpayer, such a scheme would only lead to a solidification of a wealthy minority and an exceedingly poorer majority.
The solution to that is to have a tax policy that assures that the latter category is the empty set.