Musk and Ramsomswany want to eliminate the FDIC?

[Fort Fun Indiana]

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

Vivek's own words are quite enough. It's a dangerous and idiotic idea from an idiot. And that needs.to be said.

 

[DigitalDrifter]

Vivek's own words are quite enough. It's a dangerous and idiotic idea from an idiot. And that needs.to be said.

He's not an idiot, and he would make you look like a high school sophomore in a debate.

 

[Zincwarrior]

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

Trump's butt buddies.

 

[LeroyDumonde]

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.

The FDIC is backed by the full faith and credit of the United States.

 

[petro]

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.

Don't forget the fees.
Wells Fargo just switched their policy of needing a minimum balance or they charge 10 bucks a month for an account and now charge 2.50 for an ATM withdrawal at their own bank.

Wells just said screw the poor and those living check to check.

Cheap bastards don't even have coin machines anymore and people are forced to pay 10% at some damn change machine to convert to bills.
They are a damn bank. It's legal tender.
Shouldn't matter if you have a wheelbarrow of pennies.
That screws people who get cash tips.

 

[Concerned American]

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!!!

An MSNBC opinion and you're using it as a source and their example is a nearly 80 year old fictional movie? LMAO, you are truly stoopid. They don't even suggest that the insurance is going away, just that the treasury is going to take over the tasks. SMH. Your panic porn gaslighting is done, run along.

 

[LeroyDumonde]

People forget, or didn't know, that the FDIC was only necessary because of moral hazards created by Glass-Steagall Act. Now that Glass-Steagall is dead the FDIC is no longer necessary and is its own moral hazard.

 

[MarathonMike]

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

Ah, plastic bag with a rubber band around the neck, I see what you did there.

 

[petro]

Trump's butt buddies.

Showing how you really feel about the LGBTQ community by throwing them under the bus for use as a slander.
Noice

Grow up little pathetic troll.

 

[petro]

Ah, plastic bag with a rubber band around the neck, I see what you did there.

If they would have used that for a mask during Covid, their worries would have faded away in a couple minutes.

 

[NewsVine_Mariyam]

The FDIC also regulates banks. You want unregulated banks? What dumbfuckery is that?

That is probably what they want. They want everything gone that would impede any progress they could make in their quest to enrich themselves at the expense of the American people.

 

[ThisIsMe]

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

By using taxpayers dollars lol. So, he is right, the banks can lose your money and WE are on the hook for it.

How can you not grasp this?

 

[ThisIsMe]

Don't forget the fees.
Wells Fargo just switched their policy of needing a minimum balance or they charge 10 bucks a month for an account and now charge 2.50 for an ATM withdrawal at their own bank.

Wells just said screw the poor and those living check to check.

Cheap bastards don't even have coin machines anymore and people are forced to pay 10% at some damn change machine to convert to bills.
They are a damn bank. It's legal tender.
Shouldn't matter if you have a wheelbarrow of pennies.
That screws people who get cash tips.

This is true, fees, charges for services, overdraft fees (this one is so ironic, if YOU overdraft your account, the banks can charge YOU, $30 or $40, but if THEY screw up YOUR money, THEY get to have the FDIC (YOUR tax dollars) bail them out), on TOP of being able to use your money to make profits

 

[Harry Dresden]

It’s the rubes who voted for Trump who will be the most harmed.

jones calling someone a rube?....jones you are a bumpkin personified....and a hypocrite and bigot on top of that....

 

[Moonglow]

Maybe this is why......The FDIC "rescued" depositors over the 250K limit.

Customer deposits of more than $250,000 at 2 failed banks will be guaranteed​

That is why the bank paid the insurance.

 

[Independent thinker]

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!!!

You need to quit listening to the left's twists and conspiracy theories and wait until you actually see concrete proposals.

 

[LibertyKid]

Article mentions transferring duties of the FDIC to the Treasury department.