"Hell is other people"

Occupy Silicon Valley

Ordinary American already have enough on our plates, and now we have to worry about tits-on-a-boar useless people with too much money crashing the US banking system

Joe Biden’s a generous guy. Anybody who sez otherwise is full of malarky. Just the other day he said “Anything they Need!” to America’s homeless veterans, working people being crushed by inflation and consumer debt, people in border towns swamped by illegal aliens, and communities and families overwhelmed by fentanyl trafficking, overdoses and deaths.

Just kidding! He said that about Silicon Valley bank. Referred to by the pirates who stash their loot there as a “regional bank,” it actually “was among the top 20 American commercial banks, with $209 billion in total assets at the end of last year.” (CNN)

Uninsured Deposits have Exploded over the Past Two Years

The institution collapsed under a good old 1930’s style bank run. FDIC insures deposits up to $250K, but many irresponsible and entitled assholes have bank accounts all over the US way above that amount, too lazy or too arrogant to investigate other ways to insure excess deposits.

In 2021, uninsured deposits totaled $195.6 billion, or 0.5% of the $43.3 trillion in total deposits. Today, uninsured deposits nationwide could be anywhere from $1 trillion to over $7.8 trillion. You can bet your ass that uninsured money doesn’t belong to working class people.

Make the rich bastards eat it

Give each depositor their FDIC allotted amount and anything left over after dismantling the bank. If startups and venture capitalists really need to push around and store such large sums of cash, let them set up private investment institutions and counting houses and insure them privately and keep the US taxpayer out of it.

Lessons Learned

Those crony crapitalists all knew about the 250K FDIC limit, but they also knew from past experience if they shit their pants, Big Daddy Government would make the US taxpayers clean it up.

The moneyed class is cautioning that now isn’t the time for moral hazard lectures and teaching irresponsible people a lesson. Bullshit. This is a great time to do it, and do it publicly. Good and hard.

Silicon Valley Toy Store

I had to go out to Silicon Valley for work a few times. Yes, smart engineers, but the biggest air hogs were money and marketing people looking for the best angle to suck off the biggest amount of government solar energy subsidies.

What does Silicon Valley produce? Speakers that spy on you, virtual reality goggles, unending digicrap tablets and smartphones, and anti-society hunger games social media that our society is using to destroy itself. The whole damn place could slide off into the Pacific and humanity would be no worse off.

You want to impress me, Silicon Valley? Produce one product more useful, more ubiquitous and more beneficial to mankind than the flush toilet.

Questions for my blogger buddies:

Did the US government cause this by firing multiple trillion-dollar money cannons over the US these past few years?

Did inflation and the ensuing Fed tightening and higher interest rates cause this by screwing the Silicon Valley Bank, which was sitting on extremely low interest government bonds? (As interest rates go up, bond prices for lower interest bonds get discounted, causing a paper loss and making them illiquid unless you want to sell at a loss.)

Was Silicon Valley Bank irresponsible in putting all its money in low interest government bonds, especially when the Fed had been signaling years ago the squeeze was coming?

Is there any way to rein in the New York Bankster government welfare queens, their whizz kid financial stinkbomb makers, and the Silicon Valley Crony Crapitalist welfare queens?

What would be the short-term and long-term effects of no more government bailouts?

Fly, my little pretties! Fly!

I want to end this post by saying…

Go Bernie! Go Elizabeth! Go liberal Democrats! You were made for times like this. Kick them in the pink squishy bits and don’t stop kicking until they stop moving.

See Also:

Bro Bank Blues

Privatization of Profits, Socialization of Losses

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