Actually, the answer to that question is Yes!
They lie to us, over and over, and still get reelected.
This time will be no different.
REPORTER: “Given the massive bill, how do you reassure taxpayers they aren’t gonna be on the hook for this money, and how do you keep the Americans’ confidence in the banking system?”
KJP: “The president speaking to this this morning…is incredibly important…” pic.twitter.com/xszgSoR7de
— Townhall.com (@townhallcom) March 13, 2023
President Biden says there will be no taxpayer funds bailing out the failed, woke, Silicon Valley Bank. That’s just so much Bravo Sierra (as the G-man used to say). Already, taxpayers are on the hook for the government agencies investigating. And that’s the least of it.
The Federal Deposit Insurance Corporation will be covering individual deposits up to $250,000. But Biden just promised that all deposits will be covered. FDIC insurance be damned — they’ll all be made whole.
But where is the extra money coming from? Biden says from fees charged to banks — but that only covers the first $250,000. What about all the rest? Money’s gotta come from somewhere. And I’m betting it’s taxpayers — anybody got an alternate solution? One that’s based in reality?
Nope. Biden says “it will all come from fees charged to banks.” I don’t believe that for a second. But even if that were the case, dinging the banks for extra fees still comes out of taxpayer pockets.
So far, two banks have failed. How many more are on the edge?