This is "collapse of society" bad. We're on the tail end of losing three wars entirely through the stupidity of civilian leadership, we're about to lose a fourth, our nation is flooded with foreigners, criminals and perverts, whom fully half the political spectrum represents, and... we just decided to use every bank as insurance for itself.
Seems like the riskiest of risky banking investments are guaranteed on the taxpayers' dime. When you force an unsustainable bank to sell off its assets and are inevitably left with more insurance to pay out, who is the only sucker available to take from?
This is so much worse than people think it is.
Fully insuring deposits means that any future instability or fall through will be total.
I agree. This is the tip of the iceberg. There will be effects that you'll feel, but won't see written about for years.
This is "collapse of society" bad. We're on the tail end of losing three wars entirely through the stupidity of civilian leadership, we're about to lose a fourth, our nation is flooded with foreigners, criminals and perverts, whom fully half the political spectrum represents, and... we just decided to use every bank as insurance for itself.
Seems like the riskiest of risky banking investments are guaranteed on the taxpayers' dime. When you force an unsustainable bank to sell off its assets and are inevitably left with more insurance to pay out, who is the only sucker available to take from?