Most important, the banking system is part of U.S. Government because USG has already chosen to accept its liabilities—by guaranteeing them. When A guarantees B’s liabilities, B needs to be on A’s balance sheet. This is accounting 101, folks.
They won't though, that would be them "serving us", which they don't do.
Make a good investment? Keep the asset, keep the profits. Make a bad investment? We'll buy it for what you paid for it.
Ain't it great to be a friend of the government shitbricks?
socializing cost, privatizing profit
What a joke. Might as well just nationalize banking and make the public the shareholders at this rate.
It's funny, as I was reading some old moldbug on the last big crash, where he says the same thing.
https://www.unqualified-reservations.org/2008/09/maturity-transformation-considered/?utm_source=substack&utm_medium=email
They won't though, that would be them "serving us", which they don't do.
We have all of the downsides of that and none of the upside.
(((bankers))) looting the treasury for the third time in 15 years.
Burn it all down. What a joke.