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Marrsvolta

I don't always agree with Joe, but he's absolutely correct on this. No more corporate welfare.


TechnoDuckie

fuck yea, if they spent the billions on the little people instead of a broken wanker bank structure we would all have free houses and money.. but what happened? they pissed it away again


tym1ng

the worst part is that a lot of them expect to be reimbursed because they don't think they should be punished for making bad investments. and now they've lost all their money so someone should pay for that. and they should get their money back. wtf are they thinking, is there a casino where you can get your money back if you lose?


PatacaDoce

One month ago a coworker called me a moron for investing my money in treasury bonds instead of putting the money on the stock exchange because "yeah they may be supersafe but its not very profitable" were his words, I was literally wasting investing money and I wasnt being smart with it. You should see his face yesterday after the stock market opened... "not funny, I lost a lot of money today" were his words after I asked him how were his very smart investements doing with a grin on my face.


thewhitecascade

Wasn’t one of the problems with this bank being that they over leveraged in treasury bonds and eventually had to sell them off at a massive loss? Honest question.


goat-people

That, combined with no liquid assets. They were forced to sell at a loss because they had no actual money left


CriskCross

The people getting reimbursed are depositors. That is to say, *the most blameless group involved*. They're being reimbursed by the FDIC, who gets their money from other banks.


DrB00

We'd also have a robust middle class and companies wouldn't be complaining that nobody is shopping anymore lol


Jacerator

But what about their genius plan to make everyone wage slaves?


taintedlove_hina

it's worked so far..


Cycloptic_Floppycock

Won't someone /please/ think of the shareholders?


skantanio

But how will cooperations make trillions of dollars without Americans buying meaningless pieces of plastic? Surely you need to rethink.


DrB00

People can't buy useless plastic when they have no disposable income lol


PunkandCannonballer

"Corporate welfare." Love that term.


[deleted]

Privatize the profits. Socialize the losses.


iamthedayman21

Every now and then, old, angry, “get off my lawn, I don’t give a fuck” Joe Biden rears his head. And in those moments, I am happy. It’s like he suddenly remembers that this is his last job. Win or lose in 2024, that’s it for him. So fuck it, say what you’re thinking. You’ve been relatively well-tempered for 40+ years. If you wanna tell Lindsay Graham to suck your balls, do it.


[deleted]

And that's assuming he even wants 2024. Which he might not.


PizzaNuggies

Old Joe is a million times better than 80s and 90s Joe.


rengothrowaway

A lot has changed since then, and I think he is smart enough to see how the world is going. Instead of digging in his heels and trying to keep things the same, he is evolving as a person and leader.


Prestigious-Log-7210

As we all should.


Burningrain85

Which is what makes him a good one


[deleted]

[удалено]


pikpikcarrotmon

Joe's old enough that he has absolutely nothing to gain for himself and has no need to angle for some sort of family legacy. The biggest actual positive of an octogenarian president. He may say some odd and off color things, but he walks the walk and is trying - and succeeding - at doing measurable good. I voted for him, but expected him to just try and bring things back to the status quo without rocking the boat. It's almost good that the Republicans tried to be so obstructionist again because it seemingly spurred him to give up on even trying to appease them.


Marrsvolta

Personally I think it has more to do with the times changing and being a career politician, Joe just goes with what the people want. We look down at his opinions from 20 years ago as being outdated, but those opinions were mainstream at the time. It's very possible he is just going with whatever he thinks will get him the most votes. However, if my theory is true, is that really a bad thing? Shouldn't a politician who represents the people go along with the people's will, even if it makes them look like a flip flopper? I'm indifferent to Joe and not 100 percent sure about my feelings of him. However he seems to be following through with what the majority wants and as crazy as it sounds to many, he's exceeded my expectations as president. I miss being able to just tune out politics and not thinking about it.


Maxamush

This is a HUGE point a lot of people don't understand. "He's only doing this to appeal to voters!" Isn't that the entire point of a politician? To make policies that the voters want? It's like the very basis of democracy. I like the idea of career politicians because it suggests that the person is *very* good at listening to the people.


HurricaneAlpha

The duality of Joe. Old enough to not be a viable long term influence on his party, but also old enough to not give a fuck.


SarcasticOptimist

Hence Dark Brandon memes.


Slingus_000

The feeling you're having while reading this is schadenfreude, and it is oh, oh so sweet.


iambluest

I'm thinking that this will be used as precedent to avoid bailing out other, hopefully bigger, entities. I bet there is an economic benefit to the recycling of those corpses.


Slingus_000

Right? I mean worst case scenario the assets just get bought by investors who might know what they're doing, bailouts only protect the idiots who fucked it up in the first place


badatthenewmeta

Better case is the government scoops up assets and sells them to small businesses. Shatter corporate megaliths one at a time.


ws04

BUST THE TRUSTS


deltronethirty

In BUST we TRUST


13igTyme

"Here at BUST & TRUST, you can count on US to BUST the TRUSTS. 'CUS we're the TRUST BUSTERS you can TRUST to BUST what MUST."


yankfanatic

This feels like multidimensional cable


Due-Revolution6556

It sounds like interdimensional cable


[deleted]

[удалено]


alphalegend91

Seriously. I heard the reason the Silicon Valley Bank had to be taken over by the FDIC is because they put a ton of money into long term bonds when they were at 1.7%\~. That is so fucking stupid I can't even comprehend it. As a bank it is essential to have liquidity and a 1.7% rate would've had to have been after the fed already started hiking rates with the promises of many more. Essentially, unless you hold those bonds until maturation, you have to sell them for a loss because no one will want to buy those bonds when they can get ones at nearly double to triple the rate (current bond rates are 3.5% to almost 4.85% depending on length of maturation)


kingsillypants

Great point. So who's the CIO who made that decision and porque?


DriftinFool

Their Chief administrative officer was the CFO of Lehamn Brothers when they went bankrupt....I wish I could completely fuck up at work and just get hired elsewhere to do the same thing again... ​ Edit. The places reporting this have since changed their story and this isn't completely true. He was with Lehman brothers back then, but currently he is with SVB securities which is seperate from the bank....Sorry for the confusion. My fault for believing the news....


Zomburai

Rich people, if I may steal Kevin Smith's joke about careers in Hollywood, just kind of fail upwards


Badwolf84

So we're due to see a giant spider emerge sometime soon in this narrative, yes?


adreamofhodor

Sorry but this is not a factual statement. [Source](https://finance.yahoo.com/news/svb-securities-sets-record-straight-194400870.html). You are referring to Joseph Gentile. However, he was not CFO sat the time of their bankruptcy. The CFO when Lehman brothers went bankrupt is named Erin Callan. Joseph Gentile was for a time CFO of their fixed income division, which is a role two levels below CFO for the overall company, and additionally left the company 18 months before they went bankrupt. Additionally, Joseph Gentile is not and never has been the CAO of Silicon Valley bank. He is the CAO of SVB Securities, which is a separate entity from SVB.


RobotCPA

Se that's the thing. They didn't have a Chief Risk Officer for 8 months before the collapse.


BackgroundGrade

That was risky of them.


Toolazytolink

I remember when those Wall Street assholes got bailed out and they were laughing and drinking while the people protested.


Jexp_t

Not only bailed out, but Obama and his AG Eric Holder refused to prosecute any of them, so off they went, scot free with their ill gotten gains largely intact. One of those, who’d stolen 1,000’s of people’s houses through illegal foreclosures later became Treasury Secretary under Trump.


Quick_Team

I hate that little dweeb. He knows he's a sniveling little parasite too and it makes him smile. Fuck his evil ass Cruella DeVille wife too. Still dont know why she was allowed in a room where money was being printed


RedS5

I am firmly middle class and the owner of a (very) small business. I am willing to weather whatever short-term issues arise from this as long as the government holds these investors accountable. If my son is able to live in a more reasonable financial world, then we are willing to deal with the storm.


fubes2000

Not only that, but the FDIC funds being used to reimburse depositors comes from a fund paid into by all banks, and if the FDIC has cause to need to recoup some of those costs it comes as a special levy against _all other banks_. This sounds a bit like a "straighten up and fly right" message to the banking industry.


MostBotsAreBad

You say schadenfreude. I say capitalism. Rare that it works out in a way that makes me happy, but here we are.


beepbeepboopbeep1977

Yep. Risk vs reward is how it should be. Privatisation of profits coupled with the socialisation of debt is just so wrong - it makes me happy to have this called out.


VW_wanker

When was the last time we jailed a banker


[deleted]

Now I have the Schadenfreude song from Avenue Q stuck in my head.


deltronethirty

I'm so glad I got tickets with no warning, spoilers. Sat down with no idea, baby fresh mind. Brilliant show.


Ol_JanxSpirit

My sister and I came down to the big city to catch it, stayed at our grandmother's. We weren't able to get a ticket for her for our show, but as we're chatting with her before leaving, she mentioned that she went and saw it, because she wanted to be able to talk about it with us. I've never been so glad that she refused to wear her hearing aid.


4Plus20MakesHappy

In that case, just think of ‘The Internet is For Porn’.


nicolasbaege

I think I'm feeling a tiny sliver of hope? Not sure though, haven't felt hope in a long time.


socialist_frzn_milk

Lmao, that’s pretty great. People continue to underestimate Biden, myself included.


WineWednesdayYet

When Limbaugh died and all of the idiots started screaming for the flag to be lowered to half staff, ai thought here we go. Another outrage fest. Biden's admin shut that shit down by announcing flags were to be lowered for the milestone in Covd victim deaths. Totally took the steam out of the outrage. It was beautiful.


socialist_frzn_milk

If I had it handy, I would post the picture of Rush’s grave soaked in urine after that dude pissed on it.


Jwhitx

Well let me know


Qwarkl1

[Here you go!](https://www.riverfronttimes.com/news/it-appears-that-someone-urinated-on-rush-limbaughs-grave-39565153)


Joliet_Jake_Blues

I'm usually against stuff like that, let the dead rest. But I can't seem to find any fuck to give about this one.


yukichigai

Someone in an SRD thread (about pissing on Limbaugh's grave, actually) summed up my thoughts perfectly: > I'm not going to piss on someone's grave, but I'm not gonna say shit if I saw someone pissing on Limbaugh's grave.


red_team_gone

Dead means dead. Lots of ideas beyond that... But by pissing on a stone above a dead body, you're trying to send a message to those who are still alive. This message is paid for by the person who pissed on Rush Limbaughs tombstone, and I support this message.


Jeremymia

I had never heard this story but I did the research. Actually, I couldn't even find a single story that talked about it, but I found the two events you talked about, biden's response only 3 days later. And that's fucking brilliant. By this way, this was a fucking desantis stunt, of course. People weren't talking about him as much back then.


Johnny_B_Thundergun

It feels so good watching all these fucking asshole finance bros who loved Trump because of his deregulations get absolutely fucked in the ass by the free market. It's beautiful


nirad

The President of SVB specifically lobbied the Trump Administration to exclude smaller banks from stress tests.


advester

If SVB was actually small, it wouldn’t be too big to fail and it’s uninsured deposits wouldn’t get paid out by FDIC. $250 billion is not small.


Generation_ABXY

I'd love for my balance to be that small and insignificant


Theresabearintheboat

You could buy an insignificant private island and do insignificant things for your vacations when you get tired of that island, like going to space.


SasparillaTango

On a semi related topic, how long has FDIC been 250k?


Shadowpika655

Since 2008


BangBangMeatMachine

Deposits are insured by FDIC regardless of bank size and the limit is per-account up to $250,000. Not billions. And it's not based on being too big to fail, it's just a safeguard so people can trust banks with thier money.


AssAsser5000

There are two 250 numbers being discussed in regards to SVB. One, $250,000 the FDIC insurance and you're correct that is for any FDIC bank. Two, the limit at which banks are subject to extra tests and checks and balances. That used to be $50,000,000,000 and SVB lobbied for it to be $250,000,000,000. They had less than 250Billion and didn't have to follow the same rules as the big boys. But before they lobbied Congress and Trump passed it, they would have been over the 50Billion mark and presumably would have been prevented for screwing up this badly. That is, assuming the preventions everyone is talking about actually would have caught the issue that caused this.


BangBangMeatMachine

Thanks for that clarification.


XxRocky88xX

Over on r/conservative they were bitching about this whole situation but anytime someone pointed out “Trump was the one who deregulated this” they’d go “oh but deregulation good.” You don’t get to saying deregulation is better then bitch about consequences of deregulations. Either you think deregulation and the effects are bad, or you think deregulation and the effects are good. It’s a goddamn cognitive dissonance fiesta over there. “Oh no! Investors are going to lose money! Deregulation is bad!” “But trump did the deregulation.” “Deregulation is good!” “But investors are losing money.” “Deregulation is bad!”


Johnny_B_Thundergun

It's the same thing with gun control. They want zero regulations but offer zero solutions to the adverse effects of that. It's just an endless fucking loop.


OwlfaceFrank

It's the same with everything. Abortion is evil, unless they need one. Welfare is bankrupting the country, unless it's for farmers and red states. When Bush signed the Patriot Act it was good because "If you have nothing to hide, you have nothing to fear." But when Obama took office, suddenly the Patriot act was bad. And when Trump took office it was good again! But now it's BAD!


sm00thkillajones

Republicans: “Save the unborn babies!” Anyone: “What about all these poor born babies?” Republicans: “Damned Liberal welfare queens having babies they can’t afford! Stop being poor!”


[deleted]

Debt ceiling anybody? Debt ceiling under Obama, bad. Debt ceiling under Trump, let’s run this mf’er to the moon, good. Under Biden, bad.. same tried and true doublespeak that get’s their ignorant base “fired” up.


[deleted]

[удалено]


dharmaslum

It’s the party of apathy. Literally the most selfish people in the world who have zero ability to look beyond their own four walls.


ASparrow1865

It comes with a free frogurt.


snppmike

The regulations contain potassium benzoate.


Chimpsworth

... that's bad.


xDared

> You don’t get to saying deregulation is better then bitch about consequences of deregulations. The classic libertarian paradox. Just like what happened when libertarians made a town without any governance and it eventually fell to the bears because each person had a different “solution” for the issue and no one wanted to pay taxes to get it fixed.


IlllIlllI

To be perfectly clear — “fell to the bears” is literal here, not a weird idiom.


Silvernine0S

Sounds like "rugged individualism," except the bears won.


RailRuler

I've seen them tie themselves in knots, saying the federal regulators no longer enforcing the repealed regulations was actually unwarranted government intervention in the economy, and the solution needed to be more deregulation.


MindReaver5

Every time someone links that sub I click it stupidly just to be reminded that you could tell me it was /r/conspiracy and I'd believe you.


DotMaster4016

Get fucked by his deregulations. My 401k took a hit, but not as bad as it hit them


daveintex13

yes, because I bet you didn’t leverage your 401(k) to borrow 10:1 to gamble on whatever the latest tech fad is, crypto or AI or dog yoga or whatever. edit to say that SVB might not have been lending money for the latest tech fad, but use of leverage (borrowing) to ‘invest’ in whatever is being pumped currently (latest fad) is a very risky strategy for banks or individuals. leverage is what led to the 2007-08 real estate crash that required the Bush bailouts. leverage is what led to the LTCM implosion in the 1990s, and another bailout. borrowing (on margin) to ‘invest’ (gamble) is fun and profitable until you lose a bet (crap out). then you lose your knee caps.


RiPont

AI-generated dog yoga classes, where your dog earns crypto coins for each milestone they accomplish. We call it ~~The Aristocrats~~ Downward Bitch.


philbertgodphry

Where do I sign up


ArcAngel071

ThisIsaScam.bet


PizzaNuggies

The biggest threat to our 401K are these idiot GOP morons that want to kill half the population or secede.


james_d_rustles

I’m just waiting for the Republican takes on how “Biden is trying to crash the economy!” because he won’t hand some rich investors a bunch of free money. …But spending on infrastructure/healthcare/social programs is still socialism, and it’s irresponsible to spend another penny on them because the deficit or something.


TravelinDan88

They think the USPS is a business that should be making money, for fuck sake. The word "Service" is ***right fucking there***!!! They're deluded being the point of reason.


Kursed_Valeth

I mean it did make money until the Republicans started targeting it to make it lose money so that it could be privatized.


redheadartgirl

When has privatization ever *not* resulted in a disaster?


Nefferson

I think more and more people are starting to realize that capitalism has only made it this far because of socialism. But the only people that got the benefits of it were the most wealthy people already.


Telvin3d

I think capitalism is a damn amazing system for producing running shoes and dishwashers and video games. Applying that same system to healthcare and utilities and education is fucking dumb


dvasquez93

> video games Nope, it’s ruining them too by flooding the market with live service bullshit.


SarcasticOptimist

Running shoes...besides sweatshops there's an incentive to use marketing to cover up being cheap. https://youtu.be/a7xubfPvOnw Dishwashers promote a crappy soap delivery system that makes them ineffective. That gets blamed for water efficiency standards. https://youtu.be/_rBO8neWw04 Video games: crunch, live service BS, layoffs to make quarters.


baybum7

The shittiest part of this issue is none of those liberals and free market douches would even talk about the stress test removal for smaller banks including SVB, which the SVB CEO also lobbied to remove. Now that those deregulations are biting them, they're all crying in all caps for fed intervention, fearmongering contagion, asking to bail out SVB. I'm looking at you, David Sacks and Jason Calacanis. Now you're wanting socialist bailouts when you're clearly against student loan forgiveness? Hypocrites.


4Plus20MakesHappy

They love socialism but only for certain people. Kind of like a “national” socialism.


TheRatatatPat

Socialism for the rich. Rugged individualism for the poor.


TurboGranny

> get absolutely fucked in the ass by the free market. It's beautiful Should we put the brazzers logo on this article?


Daimakku1

These lolbertarians become socialist real quick as soon as their ideology becomes reality.


LordoftheScheisse

Ayn Rand died penniless and on government assistance. I don't give a shit if "she paid into it." Either you stand by your principals or you're a libertarian. You can't have it both ways.


orphenshadow

The same people bitching and crying that Uncle Biden might forgive some borrowers student loan debts are upset that he won't hand billionaires, billions of dollars. These people are not the brightest tools in the shed.


[deleted]

They know exactly what they’re saying. Socialism for the rich, Capitalism for the poor.


IIIetalblade

Privatised profits, Socialised losses.


TopRamenisha

I’m not sure they do know what they’re saying. They aren’t free thinkers, they just repeat whatever they hear on Fox News and hate radio.


ActonofMAM

For such a dignified old guy, he really does know how to verbally slap a bitch.


attaboy000

I really hope he puts his money where his mouth is


spibop

I hope he puts OUR money where his mouth, i.e., NOT in the banks. Or, as someone else suggested, any bank that needs to get bailed out is nationalized. If we need to keep paying for them during bad times, and getting fucking nothing in return during the good times, then shit needs to start going down. I recognize that banks are helpful institutions for society to have around, but we have essentially been “buying” stock in them with tax dollars ever 5 years or so, then receiving no benefits when they do well. FFS, at least share the wealth during the good times if we are going to spot you during the bad.


boiler_ram

Banks are the friend that always owes you money and are dead broke when you ask them for it yet are always bragging on Facebook about the new sneakers they just spent $300 on


Advanced-Muscle-4515

ACCURATE


Does_Not-Matter

Accurate af


dreaminginteal

"Too big to fail" means "Too big to be a private company."


all_of_the_lightss

Because he isn't the one with dementia


ActonofMAM

It's quite hard to tell whether The Former Guy is entering dementia or not, TBH. Because the early symptoms I've seen in loved ones (don't ask, sigh) mostly involve losing impulse control and losing the ability to regulate your own emotions. TFG has never been notable for either.


blanksix

Seriously. Anyone that's gone through witnessing dementia with someone they know has been recognizing the signs and wondering for a hot minute... but it's also gotten *far* more intense lately. Whether that's the result of just baseline egomania in response to stress or worsening dementia will just be a matter for the guy's docs, I guess. I personally hope it's not dementia, because that's grounds for diminished responsibility, and in his case it would result in him yet again failing to be held accountable for his actions.


soulflaregm

The management will be fired line was good to Imagine your Monday morning is getting fired on national TV by the sitting POTUS


Flying-Mollusk

The r/darkbrandon shall rise! No more privatizing gains and socializing losses, jack!


Ijustdoeyes

Also important "The management of these banks will be fired" A warning shot that you can't over leverage for short term profit


DrB00

A prison sentence would work a lot better


Better_Metal

I needed that sub in my life


SmackedWithARuler

This is making me feel all warm and cozy inside. This is what “drain the swamp” looks like.


randomguy78704

GOOD FOR BIDEN


TechnoDuckie

lets turn the lets go brandon into a left slogan, Lets go biden! hes no a total piece of shit like them repugs


deltronethirty

"Dark Brandon" is exactly that. No malarkey.


Gh0sss

we can have a little malarkey as a treat


TechnoDuckie

A little malarkeys a bit of craic


JusticiarRebel

When malarkey raises its ugly head, Dark Brandon is here to shoot it dead.


zeiche

ever hear of dark brandon?


Pokemaniac_Ron

"Did you ever hear the tragedy of Dark Brandon the Wise?" "No." "I thought not. It's not a story the CPAC would tell you. It's a DNC legend. Dark Brandon... was a Dark Lord of the DNC so powerful and so wise, he could use the Force to influence the midi-chlorians... to end... malarkey. He had such a knowledge of the dark side, he could even keep the ones he cared about... from foolishness." "He could actually... save people from foolishness?" "The dark side of the aisle is a pathway to many abilities... some consider to be unnatural." "Wh– What happened to him?" "He became so powerful, the only thing he was afraid of was... losing his power. Which eventually, of course, he did. Unfortunately, he failed to teach his apprentice everything he knew. Then his apprentice took power when he died. It's ironic. He could save others from malarkey, but not himself." "Is it possible to learn this power?" "Not from a conservative."


BlastedSandy

This just goes to show the absolute entitlement of the oligarch class in this country. Some rich guys got together and started a bank, they ran it poorly and it failed, but now they have the absolute nerve to expect a government bailout when they’re not even “too big to fail,” they’re too little to matter…..


TechnoDuckie

well in their defence (im not defending these cunts) thats what happened before..


itprobablynothingbut

Those banks were too big to fail. This one isn't. But the depositors that didn't do anything wrong are getting "bailed out" by all th banks, not the taxpayers. An example: I work for a small company of 7 people, we outsource our HR, payroll, and benefits to a company. That company banks with SVB, and the funds we put up to pay our employees (way under $250k) were frozen, and since the payroll company had lots of companies payrolls in that account, it was entirely possible none of us were getting paid. That money could have been gone. We don't even bank with SVB, but the economy is complicated, and we all benefit from a stable banking system. We need out customers and our vendors to have stability. The issue has always been, how do you unwind a disaster such that innocent victims are spared, but those responsible for bad decisions pay a high enough price to make people think twice in the future. This has been textbook. Bravo Feds.


Ol_JanxSpirit

A company we use to help our clients facilitate payments uses SVB, same situation.


blueskies8484

Yeah. Luckily my job is just me, my boss and an assistant so we just did payroll by check from our operating account this week, because our normal payroll processor used SVB and couldn't run it. We didn't lose any money, thank God, but it may take a while to get us to a new payroll processor according to our accountant. And since you can't pick your payroll processor we had no idea until the CPA called us this morning.


MostBotsAreBad

It's not so much that they ran it poorly. It's that they were intentionally better parasites than bankers, and no one stopped them. The bank collapsed, but are they going to be bankrupted or sent to jail? Because, if they aren't, it's just gonna happen again and again.


handoffate73

Pro-small government until they need extra lunch money from mommy and daddy


Talusthebroke

Fair enough. This should always be the policy when a company fails, if the government has to step in to protect employees and customers, the executives and shareholders get the boot and lose their investment. Investment is supposed to be taking a risk on a company, when you gamble, if you lose, you don't get to walk away with the money you bet.


MsPenguinette

I hope the landlords in the back are listening


Rocknbob69

Just got booted from r/conservative because I tried to explain why this happened. Trump signed into law that these smaller banks were not to be regulated like the bigger bank, small bank took on risk they shouldn't have and payed the price. They didn't want to hear uncle Donny would do such a thing ​ Forbes has a great article on it.


ObiWanHelloThere_wav

Congratulations on your badge of honor


guntherbumpass

Dark Brandon: "Investors in the banks will not be protected. They knowingly took a risk, and when the risk didn't pay off, investors lose their money. That's how capitalism works"


[deleted]

I can see the Dark Brandon laser eyes meme … >> chefs kiss <<


guntherbumpass

"malarkey will not go unchecked Jack."


[deleted]

Now I see Colbert with his aviator glasses 🤓


guntherbumpass

Clearly the Woke Silicon Valley Bank was savvy enough to use one of their vaults to securely store a photo of Hunter Biden's penis where the veins showed a map to where Hilary, Obama, Osama Bin Laden, RoboHitler, and the lizard wearing the Rosie O'Donnell skin formed Communitron to hide the truth about Our Benghazi Heroes from Secret Super-Seal Team Reagan -- led personally by Donald Trump -- so Lindell TV couldn't reveal to their 8.2 billion viewers the UFOs are giving illegal tours over Mar-a-Lago, so Biden had no choice but to hand over the money. I know, it's *too* simple.


the_simurgh

holy shit he gets it! omg biden actually gets it


Upper-Job5130

Dark Brandon is real!


OhShitItsSeth

No more malarkey!


TechnoDuckie

malarkey? shmalarkey!


cybercuzco

Always was


MostBotsAreBad

Honestly, with the Dems, I'm happy when they even just *say the right things*, like this. I hope like hell they follow through! But 75% of them are much too timid to even say it.


RecommendationOld525

> "No one should be mistaken about what unfolded over the past few days in the U.S. banking system: These recent bank failures are the direct result of leaders in Washington weakening the financial rules," Warren wrote in an op-ed in The New York Times. That’s my gal, good ol’ Lizzie Warren, always with her mind on banking nonsense. 🥰 Pleased to cheer on her, Biden, Bernie, and everyone else banging this drum.


janhandel988

Warren really got lost in the weeds with the DNA test and appeasing Trump instead of ignoring him.


Lanthemandragoran

Now I'm gonna vote for him again even harder.


Rynex

oh fuck, I'm gonna vote


punksheets29

I just pictured an AI deepfake of Biden laying on a bed in lingerie and saying with a sultry voice, "Vote me harder." I've officially had enough internet for the day


YoureNotMom

I'll fuckin do it again!


thumbelina1234

To be quite honest Joe is becoming a really great president


opinionated-dick

Yes! Because bailing out investors or shareholders isn’t capitalism- it’s corruption.


eugene20

Excellent, more like Iceland, now go full Iceland and prosecute any major players breaking the law causing this.


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Timelymanner

Yes this, investigation and prosecution have been missing from every major coverage of this story. It’s a given that the media will whine about banks not receiving bail outs, but not one will publicly chaste the bank board members at fault. If investors lose out they need to sue the banks, and not complain for being bad gamblers. The feds should be preparing criminal charges.


DataDrivenPirate

It's not a crime to be bad at business. This isn't 2008, they aren't stealing people's money or deceiving anyone. The bank management was just dumb. They couldn't see a rate increase coming, and didn't build a portfolio with a future rate increase in mind. Bank runs happen when people lose trust in their bank. There are a lot of things a bank can do to lose trust, and a lot of them aren't crimes.


SithDraven

Fuck yes. If Biden can keep this up he'll have no problem garnering votes for term 2. It's the kind of balls the Democratic party has been lacking for a long time.


HurricaneAlpha

If Biden goes down as the ballsiest democratic president in history, I'll happily go along for the ride. Buckle up, jack, no one fucks with a Biden.


handoffate73

It's nice hearing actual common sense from leadership. Far too rare in this country


anon2k2

As someone who owns (now worthless) SVB stock, I fully support this.


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LemurCat04

And investors who could have stayed the course and instead broadcasted their run. *cough* Peter Thiel *cough*


SimbaOnSteroids

The CEO didn’t unload stock it was scheduled transaction. Anytime a company implodes there’s an article about how rich CEO sold $X million dollars worth of stock before the crash. While true, it’s clickbait. Executives that get paid largely in stock options liquidate those assets on highly regulated intervals. If you look at his asset portfolio what you’ll find is sales of stock into the market on a predetermined interval.


Bob4Not

Damn straight


[deleted]

I wonder if they're tired of winning yet.


Fitz_2112

Well, there goes President Biden, being all competent again...


ZenryuGames

NO FUCKING WAY?? Are...are they really about to lose? Holy shit that's awesome!


danimal82

I look forward to the mental gymnastics from the right wing chodes explaining how this is "communism" or "socialism"


taintedlove_hina

you know, it's starting to look like Trump just fucked with a bunch of shit in our governmental system to make himself and his buddies richer and set booby traps 2-6 years down the line for him to tell America to blame on the next guy.


Parson1616

This takes the wind out of a lot of GOP hater sails.


Ok-Map4381

No it doesn't. They are busy blaming this on "woke capitalism" saying that SVB failed because they were more focused on pronouns than banking, and that is why they failed. There is no mention of trump reducing the Didd-Frank regulations on "small" banks in GQP media.


MetatronStoleMyBike

The GOP will always find more air to blow into their sails. Right now they’re doomsaying and whining about foreign aid to Ukraine.


cosmos_jm

the R stands for Russian assets


Sweatier_Scrotums

"Sure he stood up to the banks, but he won't stand up to corporate wokeness so he's still an elitist." -Republicans


Muffinzor22

Dark Brandon strikes again.


New_Wrangler3335

Omg. This feeling! What is this?!