GAT_00: $120 billion in federal deposit insurance (through the FDIC, backed by the Treasury)Oh yeah, that's a terrible, terrible thing to have.
EvilRacistNaziFascist: m00: Why do you guys hate banks & the free market? What are you, communists?Bank bailouts have nothing to do with the free market; under capitalism there is no such thing as "too big to fail". The bailouts involved the government extending its largesse to the private sector and demanding its pound of flesh in return.
TalenLee: The thing is, if you don't subsidise them, the banks will all leave for foreign shores, or something.
m00: Why do you guys hate banks & the free market? What are you, communists?
enik: Hey you people voted for Obongo -- not me.
log_jammin: Please explain how the FDIC is lining the pockets of the banks.
Over_Zealously_Apathetic: It's like the Republicans are actively sprinting towards the next depression. Don't they read history books?
Bad_Seed: log_jammin: Please explain how the FDIC is lining the pockets of the banks.Like this.cchris_39: The losses referred to in the article are the cost of bank failures in excess of the premiums
Bad_Seed: GAT_00: $120 billion in federal deposit insurance (through the FDIC, backed by the Treasury)Oh yeah, that's a terrible, terrible thing to have.Just because you socialise the losses, doesn't mean you have to privatise the profits. FDIC was created to protect small savers from bank failures, not to line the pockets of banks with taxpayer's money.
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