Lloyd Blankfein, the former CEO of Goldman Sachs said the answer is not black and white on “Fareed Zakaria GPS” Sunday. “The answer is kind of a yes with an ellipsis,” Blankfein said. That’s because the government took away the Federal Reserve’s ability to issue a blanket guarantee of all deposits in the system, a power it utilized in 2008.
The expression that gets tossed around in these conversations is moral hazard – meaning if these depositors are protected, “they and other depositors in the future won’t be so careful where they leave their money.” This could cause a repeat of the current crisis, he said. Blankfein supported a policy change to raise the FDIC-insured limit. “Do we want to make it the duty of depositors to do that kind of forensic accounting analysis on banks?” Blankfein said.
Every story and timeline you produce on this in which you fail to mention Peter Thiel's apparently malicious role in it is disastrously cowardly.
It’s not safe. Bolts money of $12 million has not been recovered yet.
It's a bank robbery plain and simple. SVB had over 1 billion$ invested in FTX. FTX Donates over 100Million $$$$$$$ to the DNC. The DNC should return the cash or face prosecution for receiving stolen goods.
Not to worry. As always, when Capitalism bombs because of too much deregulation combined with bad actors like the CEO of SVB, Socialism will always be there to bail it out and keep regular folks head above water, just like in 2008 and 2020.
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