Yellin Has No Idea What They've Done to Our Banking System

[Dont Taz Me Bro]

This was a pretty revealing conversation between Senator James Lankford (R-OK) and Federal Reserve Chair Janet Yellin. It lasts roughly five minutes and reveals how clueless these people running our monetary and banking system are when it comes to the consequences of them bailing out wealthy account holders at failing institutions.

 

[pknopp]

This has been noted for a long time.

 

[Mac1958]

This was a pretty revealing conversation between Senator James Lankford (R-OK) and Federal Reserve Chair Janet Yellin.

This has been noted for a long time.

I look at the bailouts not as a disease, but rather a SYMPTOM of the disease.

Here's a quick thought exercise: Imagine a big pile of old band-aids, about 50 feet in diameter, and about 75 feet high.

That's our fuckin' financial system. It's our health care system too, for that matter. Oh, and our tax system.

And since our "leaders" (ha) are not allowed to communicate, collaborate and innovate, that pile will only get higher.

 

[1srelluc]

I don't think Miracle Max can fix this mess, much less Tater's bunch.

 

[jwoodie]

This was a pretty revealing conversation between Senator James Lankford (R-OK) and Federal Reserve Chair Janet Yellin. It lasts roughly five minutes and reveals how clueless these people running our monetary and banking system are when it comes to the consequences of them bailing out wealthy account holders at failing institutions.

Yellen is indeed clueless, but a "stress test" would not have prevented the SVB collapse.

 

[Donald H]

This was a pretty revealing conversation between Senator James Lankford (R-OK) and Federal Reserve Chair Janet Yellin. It lasts roughly five minutes and reveals how clueless these people running our monetary and banking system are when it comes to the consequences of them bailing out wealthy account holders at failing institutions.

Optimism is the only correct course to take at this critical time. To not be is sawing the limb off that their nest is on.

 

[gipper]

Dumb Americans think this is capitalism…

 

[Harpy Eagle]

Dumb Americans think this is capitalism…

Where are your post whining about this happening....

 

[gipper]

Where are your post whining about this happening....

View attachment 766694

Are you a dumb American?

 

[Dekster]

It is an interesting thing this flight for coverage is happening, but ultimately, one should always be mindful of the risk of their deposits. I have always used multiple banks to spread my generalized risk around basically all my adult life, but particularly since the Great Recession. It isn't just for FDIC coverage though. If I need cash and one bank's computers are down, I can go to another; if one account gets frozen, I can use another; if one account gets hacked, there are others, etc etc .