Musk and Ramsomswany want to eliminate the FDIC?

[LeroyDumonde]

The FDIC is a bailout fund for poorly managed banks.

 

[ThisIsMe]

You know why they need an FDIC? Because banks are allowed to loan your money out and make interest off of it, and, they only have to keep 10% of your money on hand, and they inflate the money supply from fractional reserves lending.

The entire need for the FDIC is because banks (who write much of our legislation and who wrote the bailout bill) are allowed to gamble with your money.

This is why banks crash, because of there is a run on the bank, they don't actually have everyone's money, it's all tied up in loans, for them to make huge profits.

Stop all that nonsense and you won't need the FDIC.

It was enacted in 1933, by bankers, during the creation of the federal reserve. All of it is crooked as shit

 

[justoffal]

Oh look...more fake news from MSNBC

More than ever....24/7....in torrents ....

 

[LeroyDumonde]

You know why they need an FDIC? Because banks are allowed to loan your money out and make interest off of it, and, they only have to keep 10% of your money on hand, and they inflate the money supply from fractional reserves lending.

The entire need for the FDIC is because banks (who write much of our legislation and who wrote the bailout bill) are allowed to gamble with your money.

This is why banks crash, because of there is a run on the bank, they don't actually have everyone's money, it's all tied up in loans, for them to make huge profits.

Stop all that nonsense and you won't need the FDIC.

It was enacted in 1933, by bankers, during the creation of the federal reserve. All of it is crooked as shit

We should go to full reserve banking. No more runs on banks and account holders will get better interest rates.

 

[Zincwarrior]

The FDIC is a bailout fund for poorly managed banks.

No you dumb moron. The FDIC Regulates banks and insures depositors. How do you numbnuts manage respiration?

 

[ThisIsMe]

No you dumb moron. The FDIC Regulates banks and insures depositors. How do you numbnuts manage respiration?

Lol, he's 100% right. The banks are allowed to fuck off with our money and if they screw it up, it's the federal government who covers the loss....I.E. OUR tax dollars.

Furthermore, banks loan your money at rates up 18%, or more, and you get what...1%? 2%? On your savings account. They use YOUR money to make loans, and make huge profits, and you get a pittance of that in your own accounts.

 

[LeroyDumonde]

No you dumb moron. The FDIC Regulates banks and insures depositors. How do you numbnuts manage respiration?

So when the banks screw up the FDIC pays off the depositors for them. How is that not a bank bailout?

Edit: The Deposit Insurance Fund is backed by the full faith and credit of the US government (i.e. tax victims).

 

[Fort Fun Indiana]

Opinion | Trump advisers have forgotten this lesson from "It's a Wonderful Life"

Don’t understand the FDIC? Neither, apparently, do Elon Musk and Vivek Ramaswamy, who have floated the idea of eliminating it.

www.msnbc.com

They are a couple of Looney Tunes and Trump is dumb enough to buy into it. Back to the mattresses! Bigly!!!

Of course. Because they are morons.

Find the dumbest possible idea, and Vivek will state it.

 

[Fort Fun Indiana]

The FDIC is a bailout fund for poorly managed banks.

Wow, just found out what the FDIC does, eh?

Can you please tell Vivek?

 

[LeroyDumonde]

Wow, just found out what the FDIC does, eh?

Can you please tell Vivek?

I'm pretty sure that he already knows that it's a moral hazard for banks.

 

[Fort Fun Indiana]

I'm pretty sure that he already knows that it's a moral hazard for banks.

Then he is a moron. As is anyone who thinks that.

Insurance is not a moral hazard. Adverse selection of insurance coverage is the moral hazard.

 

[LeroyDumonde]

Then he is a moron. As is anyone who thinks that.

Insurance is not a moral hazard. Adverse selection of insurance coverage is the moral hazard.

The FDIC is backed by the government. When the government will bail you out every time you screw up it's a moral hazard. This is typical of what we see from corporate capitalism: Privatized gains, socialized losses.

 

[whitehall]

MSNBC was part of the big lie about Biden's mental health and Harris's election chances. Why do lefties still trust it for it's biased editorial opinion?

 

[justoffal]

Then he is a moron. As is anyone who thinks that.

Insurance is not a moral hazard. Adverse selection of insurance coverage is the moral hazard.

It is when it's accessed without any repercussions. When the bank engages in risky behavior it should pay the price for that.

 

[Calypso Jones]

Why is it that the left is pro democrat politician corruption? At their own expense.

 

[Fort Fun Indiana]

The FDIC is backed by the government. When the government will bail you out every time you screw up it's a moral hazard.

False. The banks still pay insurance premiums.

And deposit insurance is the foundation of our stable banking system.

It draws no more moral hazard than any other insurance. In fact, it's less, as all banks rely on the stability of all other banks, as they rely in each other to meet capital quotas and to maintain target rates.

So you and Vivek are alone on a crazy train.

 

[Fort Fun Indiana]

It is when it's accessed without any repercussions.

So, never.

 

[DigitalDrifter]

It's not going to happen, but MSNBC will get their followers hysterically riled up about it.

 

[Zincwarrior]

Lol, he's 100% right. The banks are allowed to fuck off with our money and if they screw it up, it's the federal government who covers the loss....I.E. OUR tax dollars.

Furthermore, banks loan your money at rates up 18%, or more, and you get what...1%? 2%? On your savings account. They use YOUR money to make loans, and make huge profits, and you get a pittance of that in your own accounts.

Ni you dumb shit. The FDIC PROTECTS DEPOSITS. YOU ARE GOD'S PERFECT IDIOT
.

 

[petro]

The Trump Hater Cultists are running around with their hair on fire over every single Tweet and quote coming out of D.O.G.E. THEY HAVE NO OFFICIAL AUTHORITY TO CANCEL ANYTHING. Take another Xanax and breathe into a  plastic bag.

Hope you don't mind.
It needed a correction.