It was mismanagement that brought down the banks. And Biden rewarding the fat cat depositors to the tune of $300 billion will do little to improve the situation in the future.
Heard a report yesterday that China and Russia have a deal that requires Russia to use China’s currency in all dealings with Asia, Africa, and South America. Slowly China is moving to replace the USD as the world’s reserve currency.
You think we have problems now. Just wait until Biden is done.
Not a fun job. If you get bored, come on over to healthcare! We get 15 minutes to do everything from actual health care to nutrition counseling, tobacco use screening, alcohol screening, fall risks, depression screening, all the cancer screening…and they wonder why we’re leaving the profession. Then we get blamed if everything isn’t completed or cured.
Golly Mr. Breen, yet again no mention of all the banking regulations that TFG rolled back? I mean that is the actual cause of the bank failures. And BTW the USA is fairing far better with inflation under POTUS than virtually any other nation. I knew you wanted someone to remind you of the truth. You just forgot to put that in your cartoon. Yet again
That’s pretty much the case. A couple of years back I saw the downturn coming (about a year earlier than it happened) and switched my IRA risk profile from “aggressive” to “low”. That meant that 50% of my assets went into T-bills. That’s where I’ve taken my beating. I have 7 years until retirement. Hopefully this period doesn’t last as long as it did in the 70’s and I will recover.
I have the feeling inflation will win in the end.
Bankers tell everyone how clever they are, then, when their incompetence or corruption comes to a bad point … "Not my fault. Not me. It was them. They did it.’’
And we may include all the fat cats and stuffed shirts in the gang, not just bankers.
When the only tool you have is hammer, every problem looks like a nail. (I know, that’s a sword, but OK then.)
https://www.reuters.com/article/us-usa-trump-dodd-frank/trump-signs-bill-easing-u-s-bank-rules-into-law-idUSKCN1IP2WX ….. I’d like to see a list of ALL the Congressman who voted for this bill!!
Banks have always acted irresponsible, except when they are well regulated.
The banksters that cashed out stocks before the collapse, effectively causing the collapse, should all lose everything they have and own to make right by their customers.
Milton Friedman, the patron saint of Republican ‘economics’, decreed that the ONLY responsibility of a corporation was to make as much money as possible. So, unless banks are sufficiently regulated, why wouldn’t they risk depositors’ money in order to enrich themselves?
This is, of course, true of all corporations. Why wouldn’t they risk their employees’ safety, if it meant more money for the corporation? Why would they not use child labor?
It’s a long list.
China Biden is doing everything he can to destroy the US economy
Yep blame Biden for the FDIC (wasn’t that FDR) Dweebs
FDC created by FDR, 1934; last increase in coverage (from 100K to 250K) implemented by GW Bush 2008. what did Biden have to do with this, he allowed the system to do its job, nothing more nothing less.
What makes you think the rest of the world want’s to use China’s currency? Do you see a massive popular movement across the planet (outside of China) to adopt Chinese culture and learn to speak and read Mandarin?
When the only tool you is a hammer, then every problem looks like a nail