I was with you till this part.
An emphatic NO here. There should be NO "being backed up by others." that is how the banking industry currently works and is root cause to why they constantly get bailed out even when they arent unhealthy.
If they cant stand on their own, theyre not healthy enough and NO ONE should lift a finger to save them.
If i as a company owner run my buisness into the ground, my neighbor should have no obligation to prop up my buisness or buy me out.
(If by "backed up", you mean just by there being other options, one can fail and it hurts only the customers of that single bank, i would agree, but thats not what how what you said comes accross)
KNIGHT / SWIFT JUST BROUGHT U.S. XPRESS
Discussion in 'Other News' started by Wave000, Mar 21, 2023.
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The ones pulling the strings never seem to think about unintended consequences and second or third order effects. Since the Fed bypassed the entire purpose for the FDIC, people are moving away from regional banks to the mega banks thinking they will be whole by the Fed if the mega fails. The Fed might try something like that but it would destroy the dollar as a currency once and for all.RockinChair, skallagrime, ducnut and 1 other person Thank this. -
Ah, my apologies for misunderstanding your meaning -
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company posts a profit? the union demands pay raises, up to and including a strike, to get them. -
"we guarantee your stuff during the night and fast". -
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