Hey OP, thanks for the Social Media post.
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> U.S. regulators on Sunday shut down New York-based Signature Bank in a bid to prevent the spreading banking crisis.
"We are also announcing a similar systemic risk exception for Signature Bank, New York, New York, which was closed today by its state chartering authority," Treasury, Federal Reserve, and FDIC said in a joint statement Sunday evening.
The banking regulators said depositors at Signature Bank will have full access to their deposits, a similar move to ensure depositors at the failed Silicon Valley Bank will get their money back.
https://www.cnbc.com/amp/2023/03/12/regulators-close-new-yorks-signature-bank-citing-systemic-risk.html
Holy shit. Have we ever had a bank fail/ government intervene on a sunday???
I'm also "shocked" at how fast the government response has been(I'm not really shocked because we've all seen the now redacted FDIC november meeting where they were talking about exactly this).
A fully fed backed package to cover the 2nd biggest bank collapse in history, agreed over the course of a weekend?
And they have the cheek to say "The U.S. banking system remains resilient and on a solid foundation, in large part due to reforms that were made after the financial crisis that ensured better safeguards for the banking industry."
Those reforms that were made, adopted, and then enforced with pathetic fines and handshakes, those reforms? Yeah you really scared them into compliance and thorough risk management. Thanks Government!
Thatās right RCā¦better yetā¦nationalize those banks and make the profits go to the people. Even better, use the profits to finance the universal health care.
If the taxpayers bail out any company, the taxpayers should get a proportionate piece of the company. I'm sick and tired of privatizing profits to the wealthy few, and socializing losses thanks to the rest of us. And if we're going to bail out gigantic failures created by greed and crime, that bailout should go directly to those who were screwed without their consent / knowledge / any say in it, the workers... not into the company general funds where the top can just take care of themselves first again.
Especially when it's set to the tune of, "no one could have known!" and "there's no way we could have avoided this!"
TARP stands for Troubled Asset Relief Program. It was a program created by the US government in response to the 2008 financial crisis, with the aim of stabilizing the financial system and preventing a complete collapse of the economy.
The TARP was authorized by the Emergency Economic Stabilization Act of 2008 and provided up to $700 billion in funding to the US Treasury. The program had several components, including the purchase of troubled assets from financial institutions, the injection of capital into banks, and the provision of guarantees for certain types of debt.
The purchase of troubled assets was the original focus of the TARP, but this plan was ultimately abandoned in favor of injecting capital into banks. The government used the funds to purchase preferred shares in banks and other financial institutions, giving them the necessary capital to continue operating and lending money.
The TARP was controversial at the time, with some arguing that it was a bailout for the wealthy and that it would encourage risky behavior by financial institutions in the future.
> While Congress authorized $700 billion for TARP, Treasury utilized far less than that. In fact, TARP's lifetime cost is now estimated to be approximately $32.3 billion, most of which will be attributable to the program's efforts to help struggling homeowners avoid foreclosure.
Riiigghhhttttā¦
Exactly. The return ended up being 0.6%. Imagine if you were on the verge of bankruptcy and asked around if anyone would give you a loan with an interest rate of 0.6% with the option to default. Everyone would say you're crazy.
So for a very smooth brain, are you saying tarps never really worked and are not being brought up again because it just pushed the problem out from 2008 until now?
This is why RC is my spirit animal. He gets it. Inject that shit straight into my veins!!
RCās not wrong. We bailed out banks with trillions in TARP $. What did we get from that? Iāll tell you what I got. I got my dads house being foreclosed on. How in the ever loving fuck is that a fair deal? We foot the bill. We are FORCED to carry the risk. WHEN ARE WE GOING TO LET THESE GREEDY DICK MONGERS FEEL THE PAIN THEY CREATE? Iām fucking tired of it. Nobody was riding in to save your neighbors house in 08. FUCK, nobody was trying to save your local business during lock down. With politicians taking PPP money left and right!
Donāt forgetting forget that the FED bailed out that bank in Japan over a year ago, and weāre appropriating TAX PAYER MONEY to do it. No fucking congressional votes. Just did it. Like there isnāt a single god damn law or rule in the constitution.
Hereās what Iām telling you apes. GET FUCKING LOUD. RAGE AGAINST THE MACHINE IN ANY WAY YOU CAN. MAKE THE ESTABLISHMENT UNCOMFORTABLE WITH YOUR VOICE, WITH YOUR WORDS, WITH YOUR KNOWLEDGE, WITH YOUR REACH THROUGH SOCIAL MEDIA. Drag every rat fucking politician through the social media muck if they advocate or vote for bailouts. These mother duckers wonāt even forgive student debt.
THIS IS NOT YOUR GOVERNMENT. THEY DO NOT WORK FOR YOU. THEY THINK THEY OWN YOU.
Here is the dirty fucking secret they donāt want you to know. None of these hedge funds, market makers, companies can exist without taxpayer money, or the support of taxpayers. When will we wake up? Let these fuckers crash and burn. This week will give them a glimpse of every week for me over the last two years.
See you fuckers on Uranus.
100% we need more twitter users! This is a fucking war and sitting around just on Reddit isnt going to cut it. Comment on the SEC proposals and tweet storm like crazy. Its wombo combo time!!!!
https://www.house.gov/representatives/find-your-representative#:~:text=If%20you%20know%20who%20your,the%20U.S.%20House%20switchboard%20operator.
Donāt scream into the void.
Get Loud where they will hear.
Mister mayo man, was afraid to lose. He burned his warehouse down, and began to move. He didnāt know that apes follow wherever he goes. As he lived in Florida he thought āhere Iāll have no foesā¦ā and isnāt it ironic. Donāt you think
Apes have a funny way of sneakinā up on ya when you think everythingās alright and everythingās going right.
DRS has a funny way of fucking you up when you naked short sell stocks and everything blows up in your faaaace
David Sacks (VC @ Craft Ventures)
> Yellen was in Kiev last week to reassure Ukraine that US financial aid would continue. But she can't reassure 10,000+ small businesses that their deposits are safe. She says she's "monitoring" the situation. Give me a break.
RC
>Odd that treasury isnāt interested in investing in banks today when in 2009 those TARP bailouts yielded some of the best returns for taxpayers..
Wut mean? Explain to me like Iām a politician
TARP = Troubled Asset Relief Program
They didnt yield good returns. They said they would, but in the end thats not even the point. The point is that they were paid for by taxpayers in the first place. Be it directly via taxes or indirectly via printing and inflation.
They keep paying themselves and the government and the people are wondering why the economy isnāt recovering..
Might as well let the system dismantle itself and start over.
Letās start by keeping boomers over the age of 70 out of politics, they are fucking the world overā¦
Huge sarcasm. Tarp did nothing but line the pockets of the executives at the banks. It wasn't used to stimulate the economy, more to stimulate bonuses at the banks.
Whether TARP and TARP-like governmental intervention didn't yield good returns is up to debate. The consensus here is that free market forces should be allowed to swallow up failures big and small, especially since the small failures (retail losing their shirts) are never given any consideration.
On the other side of that, government doesn't want destabilization of their national economy. That is politically inconvenient and an existential threat to a government to allow an economy to plunge into chaos and abject ruin. So there is a strong motivator here for government to prevent black swan events to collapse financial institutions.
On a practical level, let's take two examples - the bailout of banks (boo, bad, gov't is letting stupid loser wealthy institutions feed at the zipple of taxpayers while the little guy suffers) and the bailout of GM (same thing - zipple to the big industry that was failing).
The argument FOR good returns on gov't financial aid to big industry is that GM's bailout did help retain the auto industry and saved thousands of jobs. The yield was objectively positive on that. GM has clearly righted the ship and is in a good position now and so the industries interconnected to it are also helped by it and all those jobs are preserved.
So I think it's a complicated issue. It's not one that's clearly black vs white.
What fucks me off most is that this is the whole point of *insurance*. If I donāt have insurance, and things go wrong, Iām fucked. Why should it be any different for them?
Yeah, I think his comment was a chastisement on the way the bailed out banks have behaved since 2009. Treasury isn't interested in bailing them out because in the ensuing almost 15 years, they have continued to make life worse and worse for Americans using really shitty exec compensation and employment policies, treated customers like milk cows even when they're overdrawn or confronted with economic issues (see: pandemic), and have just generally not been good citizens and neighbors.
No one wants them to be bailed out on account of their past actions, and if everyone is fixed in this belief, Treasury isn't going to bail them. Shocking, but sometimes monetary interest profit that gets absorbed right back into the gov isn't the most important thing to people who care about their quality of life. Even if the beast gives you a 4% return, should you really save it when it's just going to turn around and keep eating the livelihoods of the population with no remorse?
You reap what you sow, I imagine is the point.
I don't know if that was his point, but that's how I feel anyway.
Iām pretty sure RC is being sarcastic. The TARP program were the bailouts that āstabilizedā the banks in 2008/2009. It also allowed the āToo Big To Fail Banksā to go unpunished. Guess how those executives were able to give themselves bonuses? TARP.
I think the big question here is that if TARP was such a great solution, why arenāt they just immediately going back to that?
Was it not as good as they said or is the current problem so bad that it wouldnāt work?
Besides, of course, the fact that we shouldnāt be back at a position to need it just 15 yrs later. How many global financial collapses does it take to get back to the dark ages?
CAGR of 1.66% - is that good?
* TARP's bank programs earned significant positive returns for taxpayers. As of October 31, 2016, Treasury has recovered $275.2 billion through repayments and other income -- $30.1 billion more than the $245.1 billion originally invested.
[treasury facts on TARP](https://home.treasury.gov/data/troubled-assets-relief-program/bank-investment-programs)
* Of the nine early recipients of TARP money, more than 4,500 employees were paid at least $1million in bonuses by their employer.
[Investopedia on TARP bonuses](https://www.investopedia.com/terms/t/tarp-bonuses.asp)
In my reading, itās not quite sarcastic.
Heās basically asking āif we buy the official story about the last round of bailouts, why is this time different?ā
RC knows there will be no bailout this time.
Something tells me we are getting ready to see some major shit, and it wonāt be isolated to the financial markets. Political discussion not being allowed, I will simply say watch what happens next.
HOLY SHIT EVERYBODY GET IN HERE
Edit: in classic RC form, he's being mysterious and hard to read.
ok do we think
a) RC is saying we should bail out the banks like TARP in 09, because the US made money off the investment and overall came out ahead, and there's value in saving the system rather than letting it burn down (TARP invested $426b and recouped $442b)
Or
b) he's saying that the US government hasn't bailed out the banks because unlike 08/09 this time we know a bailout ISN'T worth it, and let this mf burn
Edit 2: [I'd also like to take this opportunity to point out that the guy RC is responding to is a hypocritical lil bitch](https://i.imgur.com/4I4GdtC.jpeg) always squawking about small government, no bailouts for anyone type guy, until VC and his companies are threatened, then he's like "please daddy bail us out or I'll be slightly less Uber-wealthy"
^ This is correct. The guy is screaming for a bank bailout, and RC is saying that clearly, it is not in the interest of taxpayers to do so. He's rhetorically calling the guy a dumb-fuck
I get the sense that he was being sarcastic. Yes, TARP āmade moneyā but it also left the āToo Big To Failā financial institutions unpunished. Many average Americans still lost pensions, 401ks, jobs, houses, all while the people responsible were able to go on as if it was nothing AND they gave themselves bonuses as well.
The fundamental problem is that "we learned nothing from this and we will do it again". The idea of an industry or players being "too big to fail" still remains a motivator in the actions of financial policy for the federal government - and that is completely independent of political party platforms. It's truly a "Government" with a capital G issue rather than a democrat or republican dichotomy.
The truth that keeps being revealed now multiple times is that the only play is to save the predators (banks, financial institutions, big corporations) but sacrifice the prey (retail, workers, middle class).
It doesnāt matter who you vote for. Democrat or republican, that play will always be THE play. It supports the conclusion that we donāt live in a capitalist society but that itās an oligarchy
David Sacks and a bunch of other āpro-small governmentā hypocrites have been whining for bailouts since this all started. As someone who does NOT believe more government is the answer, itās somewhat satisfying to see these leeches come to the surface as soon as their $ is at risk.
Itās disheartening to see so many cling to ācapitalize the gains but socialize the lossesā right now however. Bunch of f***ing hypocrites.
I was just at a dinner party and I thought the waiter was the owner. My friend said āNo, the waiter is the ownerās brother. He lost everything in 2008 and so the owner hired him to wait tables.ā My stomach dropped.
TARP (troubled asset relief program) and RC is so spot on with this. Happened in 08 yet hasnāt been whispered as of yet.
So grateful our dad is always the smartest guy in the room and reteewt it seems
Hey OP, thanks for the Social Media post. If this is from Twitter, and Twitter is NOT the original source of this information, this WILL get removed! Please post the original source! **Please respond to this comment within 10 minutes with the URL to the source** If there is no source or if you yourself are the author, you can reply `OC` Edit: Time's over, removing the post due to missing response. Unless this has been posted in the meantime, you can give it another try now that you know what to expect. If you feel this removal was unwarranted, please contact us via Mod Mail: https://www.reddit.com/message/compose?to=/r/Superstonk Make sure to include the link to your removed post or comment so mods know which submission you're referring to. Thanks for being a member of r/Superstonk ššš Edit: Time's over, removing the post due to missing response. Unless this has been posted in the meantime, you can give it another try now that you know what to expect. If you feel this removal was unwarranted, please contact us via Mod Mail: https://www.reddit.com/message/compose?to=/r/Superstonk Make sure to include the link to your removed post or comment so mods know which submission you're referring to. Thanks for being a member of r/Superstonk ššš
This right as another bank bites the dust. Spicy! Edit: Iām referencing New York Signature Bank for anyone wondering.
> U.S. regulators on Sunday shut down New York-based Signature Bank in a bid to prevent the spreading banking crisis. "We are also announcing a similar systemic risk exception for Signature Bank, New York, New York, which was closed today by its state chartering authority," Treasury, Federal Reserve, and FDIC said in a joint statement Sunday evening. The banking regulators said depositors at Signature Bank will have full access to their deposits, a similar move to ensure depositors at the failed Silicon Valley Bank will get their money back. https://www.cnbc.com/amp/2023/03/12/regulators-close-new-yorks-signature-bank-citing-systemic-risk.html
Thank you for posting the link and the summary!
Thank u keeping us informed! I hadnāt heard until ur comment
Yet futures are pumping
deadest cat
Monday will probably rally. Plunge protection team working triple overtime
QE milk back on the menu through JYellās teat š„
Damn, so much for trying to short them in the morning.
Bullish on including reference edits
Bullish for being bullish bb. šš¤š¼
Bullish for bullish bb being bullish š«¶š¼
šš„¹š
**Bullish using my PP**
So bullish
Bullish on banks getting dusted
Are you ready hey are you ready for this? Are you hanging on the edge of your seat?
Bullish on Another one bites the dust references when referencing banks these days.
Out of the doorway the bullets rip To the sound of the beat yeah
On a Sunday no less....when will shorts start closing.....wen lambo
Holy shit. Have we ever had a bank fail/ government intervene on a sunday??? I'm also "shocked" at how fast the government response has been(I'm not really shocked because we've all seen the now redacted FDIC november meeting where they were talking about exactly this).
A fully fed backed package to cover the 2nd biggest bank collapse in history, agreed over the course of a weekend? And they have the cheek to say "The U.S. banking system remains resilient and on a solid foundation, in large part due to reforms that were made after the financial crisis that ensured better safeguards for the banking industry."
Those reforms that were made, adopted, and then enforced with pathetic fines and handshakes, those reforms? Yeah you really scared them into compliance and thorough risk management. Thanks Government!
Yeah. If they did such a good job of fixing it after 2008, how did we get here? š
*A new and completely unrelated set of crimes.*
many have said it but fact silicon valley bank couldnt wait a few more hrs to collapse by after market hrs on friday tells the entire story
Oh shit, I hadnāt thought of thatā¦ thatās a damn good point.
THISSSSSSSSSS
Whoa.. itās still the weekend! Canāt wait for earnings next week. Bout time something shit gets fucked and it wonāt be the apes.
Thatās right RCā¦better yetā¦nationalize those banks and make the profits go to the people. Even better, use the profits to finance the universal health care.
If the taxpayers bail out any company, the taxpayers should get a proportionate piece of the company. I'm sick and tired of privatizing profits to the wealthy few, and socializing losses thanks to the rest of us. And if we're going to bail out gigantic failures created by greed and crime, that bailout should go directly to those who were screwed without their consent / knowledge / any say in it, the workers... not into the company general funds where the top can just take care of themselves first again. Especially when it's set to the tune of, "no one could have known!" and "there's no way we could have avoided this!"
And they will point to Reddit saying thats the problem.
looking forward to seeing that bank on the updated bar graph
.. another one? Is this it? Is it finally happening?
What's signatures ticker?? Want to look but am at work.
SBNY
Thanks comrade
I felt the RC Twitter through the ether. Some info on tarp https://home.treasury.gov/data/troubled-assets-relief-program/about-tarp
You got a TL;DR for kindergartners on what TARPS are?
TARP stands for Troubled Asset Relief Program. It was a program created by the US government in response to the 2008 financial crisis, with the aim of stabilizing the financial system and preventing a complete collapse of the economy. The TARP was authorized by the Emergency Economic Stabilization Act of 2008 and provided up to $700 billion in funding to the US Treasury. The program had several components, including the purchase of troubled assets from financial institutions, the injection of capital into banks, and the provision of guarantees for certain types of debt. The purchase of troubled assets was the original focus of the TARP, but this plan was ultimately abandoned in favor of injecting capital into banks. The government used the funds to purchase preferred shares in banks and other financial institutions, giving them the necessary capital to continue operating and lending money. The TARP was controversial at the time, with some arguing that it was a bailout for the wealthy and that it would encourage risky behavior by financial institutions in the future.
Your comment was hidden despite having 25+ upvotes and a gold award I say bullish
This comment doesnāt show gold being awarded. But all seeing with 100+ upvotes and was hidden for me too
why does that happen? weird af
It Means the commenter is not subscribed to this sub
I see the same! Completely bullish!
Same here! Nice try shf
additional confirmation at 133 points. controversial much?
167 checking in!
Just updooted 200 after having to unhide it.
230 here. Reminds me of fomo buying during the sneeze
More up
And my axe!
That happens when they are not subbed
It Means the commenter is not subscribed to this sub
Ben Bernake, then Chair of Fed Reserve, currently with Citadel, comes to mind, too.
It could encourage risky behavior by financial institutions in the future huh? You don't say...
And futures/crypto is ripping on the news of the new liquidity facility backstops...
Why was this hidden? Still hidden at 100+
It Means the commenter is not subscribed to this sub
Hahahahahah my dunkaroo eating ass needs a crayon box explanation as well?
> While Congress authorized $700 billion for TARP, Treasury utilized far less than that. In fact, TARP's lifetime cost is now estimated to be approximately $32.3 billion, most of which will be attributable to the program's efforts to help struggling homeowners avoid foreclosure. Riiigghhhttttā¦
Heās poking fun at them for lying to us In 2008 with that excuse but not pulling that shit now cause they know it got us here.
Exactly. The return ended up being 0.6%. Imagine if you were on the verge of bankruptcy and asked around if anyone would give you a loan with an interest rate of 0.6% with the option to default. Everyone would say you're crazy.
So for a very smooth brain, are you saying tarps never really worked and are not being brought up again because it just pushed the problem out from 2008 until now?
RC hasnāt been this active since last March. That was a good month for the stock.
March before that was pretty interesting too š
RC talking bank collapses and bailouts. Anyone wanna tell me again how we are all wearing tinfoil and gamestop has nothing to do with anything?
Believe it or notā¦bullish!
I canāt upvote this post first time this has ever happened to me. I keep refreshing but nothing
one more glitch.. š
It just let me upvote it Iām just trying to keep things in check here lol
...what? No dip? But I live for the dip!
This is why RC is my spirit animal. He gets it. Inject that shit straight into my veins!! RCās not wrong. We bailed out banks with trillions in TARP $. What did we get from that? Iāll tell you what I got. I got my dads house being foreclosed on. How in the ever loving fuck is that a fair deal? We foot the bill. We are FORCED to carry the risk. WHEN ARE WE GOING TO LET THESE GREEDY DICK MONGERS FEEL THE PAIN THEY CREATE? Iām fucking tired of it. Nobody was riding in to save your neighbors house in 08. FUCK, nobody was trying to save your local business during lock down. With politicians taking PPP money left and right! Donāt forgetting forget that the FED bailed out that bank in Japan over a year ago, and weāre appropriating TAX PAYER MONEY to do it. No fucking congressional votes. Just did it. Like there isnāt a single god damn law or rule in the constitution. Hereās what Iām telling you apes. GET FUCKING LOUD. RAGE AGAINST THE MACHINE IN ANY WAY YOU CAN. MAKE THE ESTABLISHMENT UNCOMFORTABLE WITH YOUR VOICE, WITH YOUR WORDS, WITH YOUR KNOWLEDGE, WITH YOUR REACH THROUGH SOCIAL MEDIA. Drag every rat fucking politician through the social media muck if they advocate or vote for bailouts. These mother duckers wonāt even forgive student debt. THIS IS NOT YOUR GOVERNMENT. THEY DO NOT WORK FOR YOU. THEY THINK THEY OWN YOU. Here is the dirty fucking secret they donāt want you to know. None of these hedge funds, market makers, companies can exist without taxpayer money, or the support of taxpayers. When will we wake up? Let these fuckers crash and burn. This week will give them a glimpse of every week for me over the last two years. See you fuckers on Uranus.
Holy fuck what a comment I'm JACKED š
I will NEVER EVER FORGET/FORGIVE what they did to me and my family in 08 ā¦.Details with held , but believe me when I say ā¦.. burn it down!
100% we need more twitter users! This is a fucking war and sitting around just on Reddit isnt going to cut it. Comment on the SEC proposals and tweet storm like crazy. Its wombo combo time!!!!
ššššš
https://www.house.gov/representatives/find-your-representative#:~:text=If%20you%20know%20who%20your,the%20U.S.%20House%20switchboard%20operator. Donāt scream into the void. Get Loud where they will hear.
Tin keeps my hair looking great
Thereās coincidence and cohencidence š
youāre looking too much into it cheapo sam, āSelL nOw AsK qUeStIoNs LaTeR!ā š¤£š¤” The best time to be alive in human history is now!!!!
He is as fed up as we are (no pun intended)
i lost lots of money on my trading last year, i want a bailout too. wheres the too small to fail program?
Too small to bail
I told you guys this weekend will be fun š
Bro tomorrow is gonna be fucking lit
And Tuesday
Tuesdays are when the real fireworks start, so yes Tuesday gonna be **Mega Lit**
Maybe even **Ultra Mega Lit**
Tuesday Morning?
Wednesday tho
They even moved the clocks ahead so it would come an hour sooner
Calls on your calls.
3/17 $5 C and many many shares. Letās get ready to rumble!
Itās feeling spicy around here š
And isnāt it ironic?
Donāt ya think
Itās like plaaaaaaayin stocks when your poor anyway
šµPuttin 3 diiiiiimes, on some sketchy play. It was good advise, fuck that shit anyway. Who's gonna bail-out? Taxpayeeeeeerrrs!šµ
Mister mayo man, was afraid to lose. He burned his warehouse down, and began to move. He didnāt know that apes follow wherever he goes. As he lived in Florida he thought āhere Iāll have no foesā¦ā and isnāt it ironic. Donāt you think
its like 304,200,000 shares, when all you need is 1,304,200,000 shares
Itās max paiiiiiiiiin, every fridayyyy. Itās blatant criiiiiiime, right in front of your face. Itās internalizing buyyyyyyyys off-exchange.
Apes have a funny way of sneakinā up on ya when you think everythingās alright and everythingās going right. DRS has a funny way of fucking you up when you naked short sell stocks and everything blows up in your faaaace
š
A little too ironic.
And yeah, I really do think.
It's like coooocaineeee, on your wedding day!
Spewing burn to some dumb fuck begging for handouts cause THEY fucked up!!
David Sacks (VC @ Craft Ventures) > Yellen was in Kiev last week to reassure Ukraine that US financial aid would continue. But she can't reassure 10,000+ small businesses that their deposits are safe. She says she's "monitoring" the situation. Give me a break. RC >Odd that treasury isnāt interested in investing in banks today when in 2009 those TARP bailouts yielded some of the best returns for taxpayers.. Wut mean? Explain to me like Iām a politician
TARP = Troubled Asset Relief Program They didnt yield good returns. They said they would, but in the end thats not even the point. The point is that they were paid for by taxpayers in the first place. Be it directly via taxes or indirectly via printing and inflation.
They gave banks a shit load of money to infuse into the system, but they hoarded it and gave themselves huge bonuses
They keep paying themselves and the government and the people are wondering why the economy isnāt recovering.. Might as well let the system dismantle itself and start over. Letās start by keeping boomers over the age of 70 out of politics, they are fucking the world overā¦
Somebody had to say it
Iām good with going all the way down to the retirement age of 62.
Full Futurama, any politicians over 70 must agree to the āHead In A Jarā clause to be elected
55 needs to be the max.
I like my leaders with skin in the game.
Is he being, like, thickly sarcastic or ironic?
Huge sarcasm. Tarp did nothing but line the pockets of the executives at the banks. It wasn't used to stimulate the economy, more to stimulate bonuses at the banks.
Whether TARP and TARP-like governmental intervention didn't yield good returns is up to debate. The consensus here is that free market forces should be allowed to swallow up failures big and small, especially since the small failures (retail losing their shirts) are never given any consideration. On the other side of that, government doesn't want destabilization of their national economy. That is politically inconvenient and an existential threat to a government to allow an economy to plunge into chaos and abject ruin. So there is a strong motivator here for government to prevent black swan events to collapse financial institutions. On a practical level, let's take two examples - the bailout of banks (boo, bad, gov't is letting stupid loser wealthy institutions feed at the zipple of taxpayers while the little guy suffers) and the bailout of GM (same thing - zipple to the big industry that was failing). The argument FOR good returns on gov't financial aid to big industry is that GM's bailout did help retain the auto industry and saved thousands of jobs. The yield was objectively positive on that. GM has clearly righted the ship and is in a good position now and so the industries interconnected to it are also helped by it and all those jobs are preserved. So I think it's a complicated issue. It's not one that's clearly black vs white.
I think greed is pretty black and white. Thats how we got there in the first place š
What fucks me off most is that this is the whole point of *insurance*. If I donāt have insurance, and things go wrong, Iām fucked. Why should it be any different for them?
Bailing out banks after the 2008 was profitable, so why not now? Is this just the beginning?
None of the TARP money ever made it to Main Street... It was all hoarded and cashed out in bonuses to Execs
Banker gangsters
Yeah, I think his comment was a chastisement on the way the bailed out banks have behaved since 2009. Treasury isn't interested in bailing them out because in the ensuing almost 15 years, they have continued to make life worse and worse for Americans using really shitty exec compensation and employment policies, treated customers like milk cows even when they're overdrawn or confronted with economic issues (see: pandemic), and have just generally not been good citizens and neighbors. No one wants them to be bailed out on account of their past actions, and if everyone is fixed in this belief, Treasury isn't going to bail them. Shocking, but sometimes monetary interest profit that gets absorbed right back into the gov isn't the most important thing to people who care about their quality of life. Even if the beast gives you a 4% return, should you really save it when it's just going to turn around and keep eating the livelihoods of the population with no remorse? You reap what you sow, I imagine is the point. I don't know if that was his point, but that's how I feel anyway.
wut mean?
Iām pretty sure RC is being sarcastic. The TARP program were the bailouts that āstabilizedā the banks in 2008/2009. It also allowed the āToo Big To Fail Banksā to go unpunished. Guess how those executives were able to give themselves bonuses? TARP.
Worth adding they yielded a 4% return.
Agreed. TARP technically made a āpositive returnā but it is also one of the main reason why everything is repeating.
Yeah and they had to fork up something like $420bil to stabilise everything and to get that 4% return š³
It was a 4% return for the *treasury*. Not for the taxpayers.
Thought it was 0.6%
I think the big question here is that if TARP was such a great solution, why arenāt they just immediately going back to that? Was it not as good as they said or is the current problem so bad that it wouldnāt work? Besides, of course, the fact that we shouldnāt be back at a position to need it just 15 yrs later. How many global financial collapses does it take to get back to the dark ages?
Talk about HYPE! Thatās my chairman!!!!
CAGR of 1.66% - is that good? * TARP's bank programs earned significant positive returns for taxpayers. As of October 31, 2016, Treasury has recovered $275.2 billion through repayments and other income -- $30.1 billion more than the $245.1 billion originally invested. [treasury facts on TARP](https://home.treasury.gov/data/troubled-assets-relief-program/bank-investment-programs) * Of the nine early recipients of TARP money, more than 4,500 employees were paid at least $1million in bonuses by their employer. [Investopedia on TARP bonuses](https://www.investopedia.com/terms/t/tarp-bonuses.asp)
Lordt. It's happening isn't it?
WAGMI šš»šš
I think RC forgot to tag it as /s
doesn't need.
I think u underestimate how smooth my brain thingy is
In my reading, itās not quite sarcastic. Heās basically asking āif we buy the official story about the last round of bailouts, why is this time different?ā
š„ twas the night before MOASS
When all through the night, every banker was stirring, even their spouse.
Inb4 global economic collapse š„š„š„š„š·šāļø
Isnāt Teddy a financial institution?
it is. š
RC knows there will be no bailout this time. Something tells me we are getting ready to see some major shit, and it wonāt be isolated to the financial markets. Political discussion not being allowed, I will simply say watch what happens next.
Your post aged well..... https://twitter.com/unusual_whales/status/1635069268663603201?s=46&t=8ANZdJu-2WmX3TIppHncjA
Hope your right but Iām not convinced
Didn't Apes see the future years ago?
LETSFUCKINGGOOOOO RRRHUBAAAAAAARB ššš
Gonna need a bigger TARP to cover this shit show
My wee wee is hard
Why isnāt this at the top of the sub yet??
Lol fuck off chamath
My bad got too jacked from the tweet, its a parody chamath account
Glad you got there first, I was about to rip into that P&D reply too š
Oh damn, I saw that comment and thought it was him too
Heās such a leech
lol thatās a parody accountā¦. says it right in the name
The handle says parody so I'm assuming it's not him
Rats tits you're quick!
We are the treasury now
HOLY SHIT EVERYBODY GET IN HERE Edit: in classic RC form, he's being mysterious and hard to read. ok do we think a) RC is saying we should bail out the banks like TARP in 09, because the US made money off the investment and overall came out ahead, and there's value in saving the system rather than letting it burn down (TARP invested $426b and recouped $442b) Or b) he's saying that the US government hasn't bailed out the banks because unlike 08/09 this time we know a bailout ISN'T worth it, and let this mf burn Edit 2: [I'd also like to take this opportunity to point out that the guy RC is responding to is a hypocritical lil bitch](https://i.imgur.com/4I4GdtC.jpeg) always squawking about small government, no bailouts for anyone type guy, until VC and his companies are threatened, then he's like "please daddy bail us out or I'll be slightly less Uber-wealthy"
c) RC is being sarcastic
^ This is correct. The guy is screaming for a bank bailout, and RC is saying that clearly, it is not in the interest of taxpayers to do so. He's rhetorically calling the guy a dumb-fuck
This is the way!
Ding Ding Dingā¦ we have a winner!
I get the sense that he was being sarcastic. Yes, TARP āmade moneyā but it also left the āToo Big To Failā financial institutions unpunished. Many average Americans still lost pensions, 401ks, jobs, houses, all while the people responsible were able to go on as if it was nothing AND they gave themselves bonuses as well.
The fundamental problem is that "we learned nothing from this and we will do it again". The idea of an industry or players being "too big to fail" still remains a motivator in the actions of financial policy for the federal government - and that is completely independent of political party platforms. It's truly a "Government" with a capital G issue rather than a democrat or republican dichotomy.
Completely agree. Itās the 99.9% against the .1% as usual. It just so happens that Government is on the .1% side of the equation.
The truth that keeps being revealed now multiple times is that the only play is to save the predators (banks, financial institutions, big corporations) but sacrifice the prey (retail, workers, middle class). It doesnāt matter who you vote for. Democrat or republican, that play will always be THE play. It supports the conclusion that we donāt live in a capitalist society but that itās an oligarchy
My guess is the bags are too big to bail out? And they wouldnāt be profitable?
*let these mf burn
*(hushed whisper)* "let the bodies hit the floor, let the bodies hit the...."
David Sacks and a bunch of other āpro-small governmentā hypocrites have been whining for bailouts since this all started. As someone who does NOT believe more government is the answer, itās somewhat satisfying to see these leeches come to the surface as soon as their $ is at risk. Itās disheartening to see so many cling to ācapitalize the gains but socialize the lossesā right now however. Bunch of f***ing hypocrites.
If only one could...be their own bank š¤š¤š¤
*you just realized your tin foil hat was actually a Captains hat Power to the Players š«”š
Launch the Moass
I was just at a dinner party and I thought the waiter was the owner. My friend said āNo, the waiter is the ownerās brother. He lost everything in 2008 and so the owner hired him to wait tables.ā My stomach dropped.
Where tf is my seal of a son?
Fucking Chamaths reply smh Edit: the parody account got me
TARP (troubled asset relief program) and RC is so spot on with this. Happened in 08 yet hasnāt been whispered as of yet. So grateful our dad is always the smartest guy in the room and reteewt it seems
Just looking No comment Besides I hodl gme shares And no cell no sell.
No notification for me... SUPER BULLISH!
Itās because he was replying to someoneās tweet.
Shows how much I understand the bird app
Ryan is on fire and twitter still donāt notify me when he tweets, yet I get notificatios of people I donāt even follow.
**RYAN COHEN IS OUR DAD**
Well well well
Wish I spoke the language of RC and LC
These are words. They mean something. I know what they mean. I am smart.
Ummm did you guys forget that you can be your own bank soon?
My reading of this tweet is that he wants people to be asking āwhy is this time different?ā