In <5ea77faf-fd32-4d60-8802-2111c9ef60ebn@googlegroups.com> RichA <rander3128@gmail.com> writes:

>We aren't talking about $1000 micro loans to some poor African or Indian sh=
>opkeeper, we're talking about hundreds of BILLIONS of dollars.
========
Tell us, Mr. Poopy, why Signature Bank, which was one
of the biggest TFG enablers, helping to finance his
purchase of Mar-a-Lago, collapsed?

Oh, and stay downwind of us.

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_____________________________________________________
Knowledge may be power, but communications is the key
dannyb@panix.com
[to foil spammers, my address has been double rot-13 encoded]

In article <tunaet$qhf$1@reader2.panix.com>, dannyb@panix.com wrote:
> RichA <rander3128@gmail.com> writes:

>> We aren't talking about $1000 micro loans to some poor African or Indian
>> shopkeeper, we're talking about hundreds of BILLIONS of dollars.
> ========
>Tell us, Mr. Poopy, why Signature Bank, which was one
>of the biggest TFG enablers, helping to finance his
>purchase of Mar-a-Lago, collapsed?

Nonsequitur noted.
Ad hominem noted.

Get back to us when you have a real argument to make.

LATEST BANK TO FAIL REFUSED THEN-PRESIDENT TRUMP'S BUSINESS IN 2021

Former President Trump might be glad Signature Bank refused his business
following the Capitol riot, now that the New York-based lender is the latest
institution to be shut down by regulators.

Word that the New York state regulators had closed down the bank came on
Sunday, just two days after the California-based Silicon Valley Bank
collapsed. The activity has generated fears that jittery depositors could try
to withdraw their savings from lenders around the country, potentially
destabilizing the banking system. But back in 2021, Signature Bank didn�t
want one billionaire�s business.

�We witnessed the President of the United States encouraging the rioters and
refraining from calling in the National Guard to protect the Congress in its
performance of duty,� Signature Bank said in a statement at the time. �At
this point in time, to ensure the peaceful transition of power, we believe
the appropriate action would be the resignation of the President of the
United States, which is in the best interests of our nation and the American
people.�

CNBC reported that Signature Bank was deeply invested in volatile
cryptocurrency and had $110.4 billion in total assets and $88.6 billion in
total deposits as of the end of 2022. After Sunday�s move by state
regulators, the Federal Deposit Insurance Corporation took control of the
bank.

The shutdown of Silicon Valley Bank, the nation�s 16th-largest lender, was
the biggest collapse of a bank since Washington Mutual in 2008. Federal
officials insisted Sunday that all Silicon Valley and Signature Bank�s
depositors will be made whole.

�We are also announcing a similar systemic risk exception for Signature Bank,
New York, New York, which was closed today by its state chartering
authority,� federal officials from agencies including the Treasury Department
said in a joint statement Sunday. �All depositors of this institution will be
made whole,� noting �as with the resolution of Silicon Valley Bank, no losses
will be borne by the taxpayer.�

It was not clear how depositors would get their money back. The FDIC insures
deposits up to $250,000, but Silicon Valley Bank is believed to have held
massive cash reserves for tech companies, wineries, and venture capitalists.
Further clouding matters, Treasury Secretary Janet Yellen said on a Sunday
morning news show there would be no bailout of Silicon Valley Bank.

In addition to being heavily invested in cryptocurrencies, both Silicon
Valley and Signature banks were advocates of so-called Environmental, Social,
and Governance policies, which put woke ideologies ahead of maximizing
profits.

Other lenders were reportedly asked to bid on taking over the assets of
Silicon Valley Bank, although at least one, PNC, said it was not interested.

President Joe Biden sought to assure depositors in a speech early Monday.

�Americans can have confidence that the banking system is safe, your deposits
will be there when you need them,� he said. �No losses will be borne by the
taxpayers.�

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Let's go Brandon!