It's all here from the @washingtonpost:
Yellen wants to bail out all depositors up to an unlimited amount, blowing away FDIC limits, spending money she doesn't have.
The Fed will give loans on generous terms to provide domestic bank liquidity.
/1
washingtonpost.com/us-policy/2023…
Yellen wants to bail out all depositors up to an unlimited amount, blowing away FDIC limits, spending money she doesn't have.
The Fed will give loans on generous terms to provide domestic bank liquidity.
/1
washingtonpost.com/us-policy/2023…
It isn't Yellen's job to bail out depositors. In fact, it is EXPRESSLY NOT HER JOB to obligate taxpayer funds to bailout bank depositors.
Note that the WaPo runs a picture from October to suggest Yellen and Powell are on board with this idea.
The Fed is not. /2
Note that the WaPo runs a picture from October to suggest Yellen and Powell are on board with this idea.
The Fed is not. /2
Yellen is clearly trying to force the Fed to pivot and go back to the zero-bound with this. And bail out those that were funding the undermining of US institutions and war.
Who in their right mind thinks the "little guy" has more than $250k in deposits?
Who in their right mind thinks the "little guy" has more than $250k in deposits?
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