Quote (IceMage @ 15 Mar 2023 01:09)
I want the government to help ensure the security of banks without bailing out the owners who may have adopted policies that were too risky.
Does the government action do that here?
On the surface, yes. It is not a classical bank bailout, the government steps in to ensure the depositors are paid out, but the owners/stockholders of the banks will not.
It is still a second-degree bailout because customers will be shielded from the bad business practices of the bank they had chosen. Given the quickly escalating panic, it was still the right thing to do.
Quote (ofthevoid @ 14 Mar 2023 18:57)
People should eat healthier and many do once they get educated on nutrition or start to get fat, whatever. But what will happen is that choice is going to get taken from people, with government deciding your diet when it comes to meat consumption I think. I don't think it happens through some authoritarian order the way you would see in dictatorships but it will happen in a much more subtle way. First meat production will be constrained or not be allowed to grow with demand due to environmental reasons or whatever, then prices will follow up. [...] In the future though, we'll price the poor out of it while the poor will continue to eat other processed foods that are as equally bad, but at least we'll feel good about ourselves for doing something for the environment (by pricing the poor out).
Case in point: the current farmer protests in the Netherlands, where tough new caps on nitrogen emissions are threatening to drive about half of the country's farmers out of business.
Quote (said_aouita @ 14 Mar 2023 08:12)
You know what's funny? Barney Frank, the guy with the disrespectful nipples who was one of the co-sponsors of the Dodd-Frank Act, was on the board of Signature Bank and is currently throwing a hissy fit about how unfair and politically motivated it was for the Biden admin to shut them down.
https://www.nytimes.com/2023/03/13/business/barney-frank-signature-bank.htmlhttps://www.wsj.com/articles/barney-frank-pushed-to-ease-financial-regulations-after-joining-signature-bank-board-e5c8819chttps://apnews.com/article/signature-bank-fdic-barney-frank-silicon-valley-6ad86262d9945675a42d735b66ace4f2This post was edited by Black XistenZ on Mar 14 2023 08:03pm