The failure of the Silicon Valley Bank (SVB) shows us, once again, that unrestrained greed isn’t good.
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It's so strange to me that there is always all the money in the world to help the rich but there is never any money to help the poor or middle
Too late ! Making money. Nuff said. Try making something useful. Morons. Again and again and again and again and again and again. BS.
Greed is like a black hole. It can never be filled or satisfied.
A democratic government is our sovereignty. Saying it’s the problem is an ask for us to cede that sovereignty to the rich, to become a plutocracy. The rich have largely won that ask.
The big banks dominate the federal reserve (they own the regional banks and influence the central fed) using it to conjure money it has no remit to do.
We need to reinstate Glass-Steagall and Dodd-Frank and put the tax rate for the wealthy back to what it was before Reagan lowered it, 72% if i'm not mistaken. No avoiding taxes, PERIOD.
These folks only believe in the Gordon Gecko mantra, Greed Is Good. Of course regulation is necessary not only to protect consumers but the greedy from doing the exact thing they shouldn't do. Why is it any difference than the laws in the justice system? Can you imagine what it would be like if there were no laws? Those laws exust because we already know what humans are capable of. These banks may not have murdered anybody but the level of pain and suffering they can inflict is pretty bad. I wonder how many cases of suicide are attributable to what happenned in the financial crisis of 2008? Why were no CEO'S of the banks brought to trial and sent to jail? They may not have murdered anyone with their bare hands but they certainly ruined many lives. Those people were given a life sentence of misery and despair.
The only way I see of regulating greed is to remove "Dark Money" , Super Pacs, and direct to candidate campaign contributions from politics, and institute term limits. Remove the corrupt politician, then our Gov't will be able to regulate person's through taxes, and industry through regulation; without that I do not see a way to regulate greed. Every time we've deregulated banks, a crisis has occurred…… STOP VOTING FOR REPUBLICANS !!
As long as you have rich oligarchs and permissive laws that legalize bribery (oops I mean free speech). This will continue to happen. Wait until they give corporations the right to vote and take it away from everyone else. See how that goes. Nuf said.
If a company has more than $250,000 in an account, then they need to either split the accounts into multiple accounts or move some money (maybe different departments or contracts) to different banks! Keeping it all in one account, knowing it is not insured, is STUPID!
Joe
We are krill for the Wall Street whales
If greed can be regulated, I want to be one of the regulator$.
Of COURSE it can. The USA did it long ago and it led to the formation of that Middle Class thing they all woof about
Biden assures us that everything is "under control". He also emphatically promised that there would be no more oil drilling on the North Slope!l The fundamental problem is that you cannot believe ANYTHING that emanates from Capitol Hill. The growing erosion of confidence in Washington and Wall Street is a self-inflicted wound that threatens everything.
Capitalism, as it is now implemented and regulated, has become, for all practical purposes, little more than a Ponzi scheme where millions of small "inputs" accumulate and gets sucked upwards through narrowing but "enriched" strata of wealth. 99.9% at the bottom and .1% at the apex. In the process, the well-being of the "whole" gets side-stepped and ignored. The "profit motive" is rational and understandable within reason. But the profit motive has morphed into unabashed greed by those at the apex who have manipulated and deregulated the whole scheme to their benefit. Foxes guarding the henhouse.
Greed doesn't wanting to be regulated, because if it's being regulated then those opposing to regulations can't let they're junkiegaming with other peoples having been interfered with.
Because it's freedom for all, except those being ripped off by those freedomfighters?
SELFISH – Uncontrolled – GREED… Is destroying the Biosphere…!!! -70SomethingGuy
They will all crash. Same thing every 10 years.
Anyway, I can guarantee you the Short Traders are making out like Bandits right now. Our Old Friend Professor Richard Wolff would likely disagree with such.
Time to bring back GLASS-STIEGAL and Justices like FERDINAND PECORA to go Battle of Britain on the Banksters !
Tax the 1% at 99%
The poor man robs with a gun, the rich man steals with a pen.
Fantastic video regardless of the economic slump, I'm so happy I have been earning $40,000 returns from my portfolio income every 13days.