Matt Davies for March 14, 2023

A good banker worries more about long term stability and profits. A bad banker wants high short term profits and doesn’t give a $hit about long term and stability or anything else for that matter.

Part of the problem is that there is no rigorous legal template for the mandatory structure of an institution calling itself a bank that ensures solvency under normal conditions with triggers that detect and warn of insolvency … well before the situation is no longer correctable. If only we had a proactive collaborative competent Congress that worked for all Americans not just the political parties and their wealthy sponsors.

The bike probably has an automatic transmission too.

I really like the training wheels.

Deregulation had nothing to do with this crash. It was bad investment decisions. They gambled big time that inflation was “transitory” and interest rates would not go high and stay high.

They bet on the Biden lies and lost the bank.

The cartoon is incorrect in several respects – if you want a proper simile to today’s “banker” you must delve into past historical novels of Mark Twain. I believe it was in his book “Huckleberry Finn” that he describes the “bank” established by an enterprising “black” that made one black rather “wealthy” while “impoverishing” others…

Twain was using that particular story within a story as a “simile” for banking in his milieu, but it applies equally today – for the average American is just as “knowledgeable” today about financial affairs as they were back in Twain’s time – Twain, himself, was forced to embark on a lecture tour to “make ends meet” after being bilked out of a fortune by an investor scheme that sounded too good to be true – and was.

The sad truth was that Trump emasculated the Dodd-Frank banking protections in 2018, saying that “banking” would be much better without all the pesky little protections D.F. provided – and once again, the government had to save the rank-and-file from rapacious bankers – it seems that once again bankers despised government intervention – until they needed it.

Although it’s doubtable that the managers of Silicon Valley Bank, who awarded themselves massive “bonuses” mere hours before being taken over by the F.D.I.C. really gave a “hoot” about the “little people” they supposedly were serving.

just waiting for the next GQP forced crisis to occur

Republicans feel that if bank customers are armed with rapid fire weaponry, the problem, like all other problems, will be solved.

The RWNJ conservatives got the wrong again. Here’s how it played out…. BTW, the anal openings that took off the training wheels made sure to take their bonuses before the feds came in.

(From H.C. Richardson on March 12th)

Others noted that the very men who were arguing the government should protect all the depositors’ money, not just that protected under the FDIC, have been vocal in opposing both government regulation of their industry and government relief for student loan debt, suggesting that they hate government action…except for themselves. They also pointed out that in 2018, under Trump, Congress weakened government regulations for banks like SVB and that SVB’s president had been a leading advocate for weakening those regulations. Had those regulations been in place, they argue, SVB would have remained solvent.

It’s always been a game to knock the training wheels off………………………..

And who overtly and gleefully deregulated banks like SVB? That matters.

basically