There is blood in the water.. and the republicans are taking full advantage of it.
The QOP likes to chum the water.
Nothing is safe where humans and greed are involved
Yellen into the void
Couple lousy bank management with a corrupt administration and you know the middle and lower classes are going to get hammered. Just watch your bank fees going up.
And beware of anyone who tries to convince you Biden did not lie when he said taxpayers would not foot the bill. Anytime the government gives away money to their donors and foreign buddies, you know it comes from taxpayers.
Poor banking decisions but at least the banks were able to avoid those pesky regs … /s
Reminds me of EPA admin. Michael Regan at E. Palestine saying “Trust the Government.” Sure………..
Quacks don’t echo.
To whom is her shout addressed? Those who have already fallen over the cliff?
The hedge fund backed ones are probably in trouble but those are sh*t banks.
All these political responses are missing the point. This cartoon is seriously funny!
Would you like to compare your educational resume against Yellen or Buttigieg? In twenty years, I never once heard a trauma patient ask if their surgeon was gay.
johnbaggett obviously has an obsession with other people’s sex lives. It is inappropriate and certainly against the TOS of Gocomics. Why is he still posting and why are you all replying to him?
This comment is patently offensive.
The banking system is safe. We have a lot of press about a few banks in bankruptcy but we often have banks going under all the time. And, yet, the banking system is still sound. I have most of my assets in a small bank concern and the rest in a larger bank operation. And, so long as I spread out my meager wealth with enough banks to make full use of the FDIC $250K protections I’ll be fine. I hope others are do this, as well.
From H.C. Richardson:
This is the first bank failure of the Biden presidency (while Donald Trump Jr. tweeted that he had not heard of any bank failures during his father’s presidency, there were sixteen, eight of which happened before the pandemic). In fact, generally, a few banks fail every year; it is an oddity that none failed in 2021 or 2022. …
Others noted that the very men who were arguing the government should protect all the depositors’ money, not just that protected under the FDIC, have been vocal in opposing both government regulation of their industry and government relief for student loan debt, suggesting that they hate government action…except for themselves. They also pointed out that in 2018, under Trump, Congress weakened government regulations for banks like SVB and that SVB’s president had been a leading advocate for weakening those regulations. Had those regulations been in place, they argue, SVB would have remained solvent.
It appears that Yellen, Powell, and Gruenberg, in consultation with the president (as required), concluded that the collapse of SVB and Signature Bank was a systemic threat to the nation’s whole financial system, or perhaps they concluded that the panic over that collapse—which is a different thing than the collapse itself—was a threat to the nation’s financial system. They apparently decided to backstop the banks to prevent more damage. But they are eager to remind people that they are not using taxpayer money to shore up a poorly managed bank.
and what about Peter Thiel, queer Republican billionaire
Maybe the banking system can be made safe – by making the US dollar worthless.
Wow. There’s got to be something nasty in the water in woo-woo Magattland. You can’t be born with that sort of arrogant, bigoted, delusional mindset. You have to consciously choose it rather than reality and you must work terribly hard to keep reality and actual critical thinking at bay. Is it worth all that fear and effort just to achieve the status of jerk?
Actually, she got yelled AT by a rude and uncouth senator.
The same people who have been predicting a recession are now using their skills to predict total bank failure. Could they have a stake in predicting disasters?
Yellen is a lesbian, Buttigieg heads up Transportation is a queer, Levine assistance health director is a crossdresser and transvestite, Sam Brinton a male who wears dresses and wears lipstick and all of the rest of his Cabinet members are perverts
i’d kinda suspected this before, but this clinches it. ol’ john is having us on. or he’s sniffing glue before he comments…
Biden’s cabinet meetings look like the bar scene from Star Wars.
The desperate CALL OF THE WILD!
It’s not enough he threw everyone under the bus for Jan6 insurrection…he did NOTHING to help his lemmings…now the Nazi coward is calling for protests again….if they heed his sniveling desperate call, they deserve everything they get!
There have been more bank failures under TFG than President Biden.
The problem isn’t just the banking system. It’s that everything in our “economy” has been made dependent on the securities markets.
It seems that the “value” of most “manufacturers” is now based more on their own holdings and trading of securities (other than their own stocks and bonds) than on their actual product.
So they’ve actually become securities traders, with their “product” being little more than window dressing… a facade which keeps them from being regulated by the same rules as “registered” traders.
Banks are, however, among the most visible of such “stealth” traders, because they’re the most visible, as well as controlling the greatest amount of “money”. (How much of that “money” is “borrowed” from each other, with no backing by anything of substance?)