Tonight we discuss the collapse of one of America’s largest banks, SVB. Fox News wonders: was woke-ism to blame?! The answer, weirdly, is “not even a little bit”, but what was the cause? And is it a harbinger of things to come? We’ll get into all that, plus a discussion of more humorous (if upsetting) hypocrisy out of, where else, Tennessee. Join us….(read more)
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Weekly Skews 3/14/2023 – Bank Failures Back on the Menu
In a surprising turn of events, the banking industry is making headlines once again, but unfortunately, for all the wrong reasons. Bank failures seem to be back on the menu, raising concerns about the stability of the financial system. In this week’s edition of Weekly Skews, we delve into the factors contributing to this alarming trend.
First and foremost, the economic landscape has been fraught with challenges for the past few years. The ongoing pandemic, along with other economic uncertainties, has put immense pressure on banks. Small to medium-sized financial institutions, in particular, have struggled to withstand the economic shocks, leading to a wave of failures.
Another significant factor behind the resurgence of bank failures is the speculative nature of the market. In recent times, we have witnessed an increase in risky investment practices, as individuals and institutions chasing quick profits engage in high-stakes investments. This has exposed many banks to substantial risk, which can, in turn, lead to their demise.
Furthermore, regulatory changes have also played a role in exacerbating the problem. Governments worldwide have been implementing relaxed regulations to stimulate economic growth, but this has inadvertently weakened the stability of the banking sector. The loosening of regulations, although intended to encourage investment and lending, has exposed banks to a higher degree of risk, making them more vulnerable to failure.
The consequences of these bank failures extend far beyond the banking industry itself. They have a profound impact on the economy as a whole. When banks fail, depositors face the risk of losing their savings, and businesses may struggle to secure financing for their operations. Moreover, the loss of confidence in the financial system can lead to a decreased willingness to invest, hampering economic growth and recovery.
To prevent a full-blown crisis, urgent action is needed to address the root causes of these bank failures. Governments and regulatory bodies must strike a delicate balance between fostering economic growth and ensuring the stability of the financial system. Stricter regulations are necessary to prevent excessive risk-taking while maintaining an environment that facilitates responsible lending and investment.
Additionally, banks themselves must take a critical look at their risk management practices. It is essential for financial institutions to conduct regular stress tests and assess the potential impact of adverse economic events. By identifying vulnerabilities and implementing robust risk mitigation strategies, banks can reduce their susceptibility to failure.
Lastly, building public trust and confidence in the banking sector is vital. Transparency and accountability should be prioritized, both by regulatory bodies and the banks themselves. Providing clear information about the financial health of institutions and reassuring the public about the safety of their deposits can help restore faith in the financial system.
In conclusion, the recent resurgence of bank failures raises concerns about the stability of the financial system. Economic challenges, speculative investments, and relaxed regulations have all contributed to this alarming trend. Prompt action is needed to address the root causes and ensure the resilience of banks. By implementing stricter regulations, improving risk management practices, and enhancing transparency, we can strive towards a more stable and resilient banking industry.
I don't believe for one minute that this Arkansas law is being passed so that Arkansan children can go work in meat packing plants. I think the target child for this will be immigrants, likely with no papers. Huckabee-Sanders passes this awful law and suddenly it becomes even easier to employ the most vulnerable children for who knows what kind of pittance, and leave no paper trail behind them to prove it. Gotta love those empathic evangelical Christians.
RE: Bullies… I was bullied for almost my entire time in grade school; I have ADHD and couldn't stop talking, would say weird shit sometimes. They didn't treat me like shit because they liked me, I promise you. I'm in my 60s and still dealing with that childhood trauma. DeSantis & Kilmeade are ignorant dweebs masquerading as macho assholes.
The VCs are gambling to create devices to fleece the population and Wall Street appreciates that gamble. Folks going to college are going to insist on higher wages and be fleeced less often, which Wall Street doesn't appreciate.
Accurate statements about Wisco right there…
Great show, as always! I don't know how often these comments get checked, but I would love to see you talk about Eden. She was a trans girl who took her own life a few days ago, although it could honestly be more accurately described as a murder. Her parents, who are part of the Saudi government, hired a (obviously, uhhh) sketchy American firm to basically manipulate and blackmail her into detransitioning or they'd have her deported back to her home country, since her student visa was or had expired.
Eden was fairly well known online so the situation has thankfully garnered at least some attention! Aside from the usual far right monsters celebrating. And I would love to hear you mention it on the show if you have the time to look into it?
I agree with Trae, I have no idea what other people do to have so much money. I'm a women's clothing designer, I draw up, drape, fit and make women's clothing. Those are tangible things that someone will buy and use. I feel like most people do such nebulous and esoteric shit that I cant figure out what they make, or contribute to anything. I have no idea outside of being a designer, lawyer, doctor, teacher, or tradesperson, how the hell people make so much money. I feel like a hell of a lot of people don't really do a damn thing. Like, when I worked at Tom Ford, the Press Office "Director" did absolutely nothing. She made a FUCK ton of money and literally would just look at the new clothes when they came in and be told which magazines were borrowing the pieces and then at the end of the month go over that with Tom. She went to endless parties, had free clothes, tons of money and did absolutely next to nothing. All because she was friends with Tom.
I think Americans should get a dividend check every year for all the investments the government makes with OUR tax dollars in the private sector. I also think that the governments should invest money in new green energies, because as Trae said, why wouldn't you? It's inevitable that we're moving in that direction, so why not make a new "Oil", or "Coal" industry that could make us all rich? But no, we privatize all the gains, and socialize the losses, when companies hit it big their shareholders and executives alone profit, and when they fuck up, we all have to bail them out without ever seeing a dime of the profits.
Government of the wealthy, by the wealthy, for the wealthy!
All us common folk deserve is a life of toil and funding the government through taxes, because the rich will never do either one!
A rusty gas station gloryhole is the biggest risk you can take.
A big catch cry of people that are super wealthy off investments is that "We took the risk to invest so we should get the rewards."
The key word there is risk. Have a sook but don't expect sympathy when it goes the other way.
GREAT JOB juxtaposing demands for bank bailouts against opposition to student loan forgiveness. Rich people suddenly want forgiveness when it benefits THEM.
I’m guessing ghouls like Sarah Huckabee are down with child labor in general, but I bet they were even more so when they realized it’s all immigrant kids being forced to do it. You know their kid isn’t working in a slaughterhouse at 13
I'm from Wisconsin, we are fat & drunk,lol! Not everyone is a far right idiot though
When the IG thirst-trap dude has 10x more class than the Politician he's chatting with, your society is truly upside-down.