BTQ profile picture
BTQ profile picture

BTQ

Account Manager

Politicker
Catalyst
Valued Contributor
+7

Janet Yellen: only banks deemed "too big with systematic risk that may cause contagion" will have deposits protected

video cover
don't believe me? 1:30:37-134:48 in the link

this is fucking wild. basically saying if you're a small/local charter bank you may be too small to get bailed out 
💵 Finance
18

26 comments

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antiASKHOLE
Tycoon
10
Bravado's Resident Asshole
Idk why, but she just looks like a side-quest villain that hasn't undergone her final mutation yet.
TennisandSales
Politicker
3
Head Of Sales
Insanely accurate description! Hahah
Sunbunny31
Politicker
2
Sr Sales Executive 🐰
OK, that made me laugh out loud. Well done.
Fenderbaum
Politicker
3
Retired Choirboy🪕
That makes two of us! OMG, @antiASKHOLE that's classic. You remind me of a friend from high school. He was a sick-minded, funny guy. He's now an executive manager at a high-end gentleman's club in Houston.
antiASKHOLE
Tycoon
2
Bravado's Resident Asshole
Lmao! Well, I guess he is in sales too. Just the tail end of things
Fenderbaum
Politicker
4
Retired Choirboy🪕
.
RandyLahey
Politicker
5
Account Executive
She’s so goddamn useless. Why the fuck was she Ukraine last week? Why the Treasury Secretary is abroad during the worst crisis since the ‘08 meltdown?
Fenderbaum
Politicker
2
Retired Choirboy🪕
Don't get me started on Ukraine...if we knew the truth about Ukraine, shit would hit the fan.
braintank
Politicker
4
Enterprise Account Executive
They still have FDIC insurance
poweredbycaffeine
WR Lieutenant
5
☕️
Insurance doesn’t protect the bank as a business, just the depositors.
braintank
Politicker
3
Enterprise Account Executive
Yep.

Businesses can fail. Happens all the time.

Exceptions can be made for businesses whose failure would have immense downstream effects on the greater economy.
Sunbunny31
Politicker
3
Sr Sales Executive 🐰
^^ this was exactly the way I read all of it. It's allowing businesses to fail and not have them making stupid decisions with no consequences. Maybe they will think twice before making bad investments if they don't have the automatic safety net.
Kosta_Konfucius
Politicker
1
Sales Rep
the insurance has a cap of$250,000 per depositor, so most businesses have more than that can get screwed even with the insurance
braintank
Politicker
4
Enterprise Account Executive
Hopefully most businesses don't keep all their assets in one account
Kosta_Konfucius
Politicker
2
Sales Rep
I am sure they aren’t now, but it wouldn’t surprise me if a lot of companies were over 250k since they assume their bank won’t faol
CadenceCombat
Tycoon
3
Account Executive
Honestly, I don’t know enough to know which way I should be outraged but can we please get these out of touch geriatrics out of public office? Jesus Christ…
CuriousFox
WR Officer
4
🦊
👀
detectivegibbles
Politicker
2
Sales Director
Hard to trust any of them.
punishedlad
Tycoon
2
Business Development Team Lead
How about we don't bail out any f***ing banks and let them fail like any other business. It's the only way we're going to cure today's economic climate. If we print a shit load of money to bail out the banks, we're going to be stuck in this inflationary cycle forever.

I'd rather take a swift kick to the gut RIGHT NOW then be tied to a chair having my finger nails pulled off one by one as all of my savings/investments lose value.
Chep
WR Officer
2
Bitcoin Adoption Specialist
Absolutely wild Central Planners are completely off the rails
Space_Ghost20
Valued Contributor
1
Account Executive
Those small banks are small enough to be acquired by bigger banks if they get in trouble. Aside from regulating the sale, the feds wouldn't be involved at all.

I know a lot of people think banks are just wheeling and dealing all the time, but the two banks I worked at ("super regional" sized banks) were almost painfully conservative in their lending practices. If they had relaxed their underwriting requirements they could have done double the loans. The banking system is a mess and has been for a long time, but it's not 100% trash.
Coastal_crusher
Politicker
1
Sales Director
One thing I’ve been wondering is that if business flock to deposit money in other banks - the large ones like JPM - won’t those banks become overloaded and face the same problem as SVB? Or are they just that stacked that the collective business community is just a drop in the bucket to them?
BTQ
Politicker
1
Account Manager
Exactly. Outright monopolies.

Banking is slowly moving toward picking a cable provider where there’s only 4 banks lol
Justatitle
Big Shot
1
Account Executive
It's almost like they want to make it impossible for small banks to survive...
Maximas
Tycoon
0
Senior Sales Executive
That's not reassuring at all for most people, welcome to the new world of the Unknown!

Still do hope that all of the fellas here and out will pass by the crisis safe and sound!
TennisandSales
Politicker
0
Head Of Sales
Banking is fucking wild man

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