Ted Rall for March 20, 2023

  1. Xf8u 3
    XF8U-3  6 months ago

    …and then the depositors tore Jimmy limb from limb.

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  2. Th marvin da martian
    Flashaaway  6 months ago

    Easier money trail to follow than Trump’s income.

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    Erse IS better  6 months ago

    That IS what banks do, right? Invest the deposits (carefully) to pay for overhead and provide interest to depositors. And the “carefully” part is, if not paramount, then at least very important. SVB failed that one badly. Dunno about the other one (two??) in the USA. I did see that UBS bought Credit Suisse, but that’s only sort of “in” the USA.

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    TampaFanatic1  6 months ago

    Saturday Night Live once made a good alternate skit for the ending of Its a Wonderful Life; the crowd goes postal when George tells then that his uncle Billy foolishly misplaced their money and instead of taking a colllection, they rush over to the savings and loan and literally beat the stuffing out of a dummy who was supposed to be Mr Potter. I think that would actually be a good ending for a reboot of the classic but of course then the cops would either shoot and kill George Bailey or throw him in jail for the rest of his life.

    The thing about banks are that most are willing to take on charity and handouts to stay afloat but when it comes to their dealings with the typical citizen they are keen to foreclose, repossess and destroy credit depite any extenuating circumstances. They are a powerful conglomerate and have all the repubbas and corporate-establishment democrats in their pocket so the rules are maade to break their way as Biden’s Bankruptcy reform bill helped them keep creditors from using bankruptcy for protection and that the banks got their money back from bankrupted entities before any small “contractors” receive coin. This is why the financial institutions and Wall Street are despised by many citizens as much as the health care, anti-labor/pro-big business, gun and fossil fuels conglomerates. As John Cougar Mellancamp once sang: “Rain on the Scarecrow, Blood on the Plow…..”

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    Will?  6 months ago

    Republicans want to turn the world into “Pottersville”.

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    GreggW Premium Member 6 months ago

    It’s NOT a Wonderful Life

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    GOGOPOWERANGERS  6 months ago

    Ypu think they learn from 2008

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    Meg: All Seriousness Aside  6 months ago

    I understand it was the “safe” investments that doomed SVB.

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    NeedaChuckle Premium Member 6 months ago

    I’ll bet the execs of SVB got bonuses before the failure. Democrats want to make bank officers responsible for failures. Republicans will shoot that down because their top guy is a crook and they support him.

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    codak  6 months ago

    can’t help but wonder if this all isn’t just a round-about way to make investment bankers whole for bad investments.

    any bank facing a big enough run won’t be able to meet demands. This bank seemed to have been deliberately jawboned into a run.

    how many of the so-called business depositors were un-viable, dot-com style, speculations, who really had just deposited investment money. Their ’payroll" going to over-compensated tech-bros and to pay back investors.

    seems the management quit doing normal due-diligence, took money out, and waited for the inevitable bailout.

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    Alberta Oil Premium Member 6 months ago

    Gosh.. does that mean my deposit is not stored in some vault.. but is given out willy nilly. Wish someone would have told me how banks work.. sheesh. /S

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    Raging Moderate  6 months ago

    More like; Your money is in my personal hedgefund, and the COO’s Cayman Island Account. Mrs. Smith, how much do you really need to get through the day? A buck fifty will get you a hot dog and soda at Costco.

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    GaryCooper  6 months ago

    It’s A Wonderful Life, 2023.

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    mourdac Premium Member 6 months ago

    Plus investments in U.S. Treasury Notes. Usually considered “bullet proof” for investing as the U.S. never defaults but a fixed interest rate which was outpaced by inflation.

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    Havel  6 months ago

    What about my investment in “ZuZu’s Petals”?

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    moondog42 Premium Member 6 months ago

    Hey, I made this same joke the day SVB collapsed! Great minds, something something

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    IAMTHELAW Premium Member 6 months ago

    Of course the money isn’t there. Money is imaginary. It’s nowhere but in the mind.

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    Rich Douglas  6 months ago

    Ah it’s a wonderful life.

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    cherns Premium Member 6 months ago

    I don’t really believe that it was “wokeness” that killed the SVB, but it’s interesting to speculate:


    Or, for another view: https://www.alexcartoon.com/index.cfm?cartoon_num=8301

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