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22min chapter
3/13/23: Massive SVB Bailout, Crypto Bank Collapses, Execs Sold Millions Before Collapse, JD Vance Rips Republicans on Norfolk, Pence Blasts Trump and Tucker, Desantis Blames Wokeness on Bank Collapse, Fauci Freaks Over Prosecution Calls
Breaking Points with Krystal and Saagar
Implications of US Government Backstopping Deposits at Banks
In this chapter, they discuss the implications of the US government backstopping deposits at banks and its effect on the banking system. They highlight the concentration of gains in the hands of a few wealthy executives and shareholders, who had sold their shares before the collapse. They also mention that Silicon Valley bank employees received cash bonuses right before the government takeover, instead of using the funds to help depositors. The chapter emphasizes the need to consider the overall impact of these actions on the banking system.
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Discover
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