Breaking Points with Krystal and Saagar 3/14/23: Bank Stocks Collapse, David Dayen Trashes Bailout Defenders, China Humiliates Biden on Ukraine, Kamala Unpopularity, Lab Leak Poll, Bailout Reveals Rigged System, East Palestine Forgotten, Matt Taibbi Responds to Congressional Smears
Mar 14, 2023
David Dayen, executive editor at The American Prospect, critiques the recent banking bailouts and highlights the systemic inequalities that favor larger institutions over small businesses. He discusses the repercussions of deregulation and government responses during financial crises. Renowned journalist Matt Taibbi shares his firsthand experience with congressional backlash over the Twitter Files, shedding light on censorship issues. The conversations delve into Kamala Harris's political standing, the rising influence of China, and the ongoing struggle for accountability in economic policies.
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Spotify Video
- Breaking Points announces video availability for premium Spotify subscribers.
- Existing premium subscribers can update via Supercast to access the enhanced viewing experience.
New Banking Reality
- The U.S. government's extraordinary actions set a precedent: all banks are now too big to fail.
- This implicit guarantee covers all bank deposits, regardless of FDIC insurance, shifting risk to taxpayers.
Rigged System
- The Federal Reserve enables banks to use accounting gimmicks unavailable to other businesses.
- This gives banks an unfair advantage, allowing them to avoid losses and potentially increase profits through bonuses or dividends.