Thanks for your insight, it’s appreciated. As upset as I am that bankers cannot seem to avoid bail outs again and again by government, including loans on bad bets already made, I’m a bit more concerned the fed seems to arbitrarily have closed signature for offering services to crypto companies, which haven’t been made illegal. I get the moral hazard of gambling, but casinos are allowed banking services and I fail to grasp the difference. I hope it’s not just sufficient donations to the politicians and regulators, but it feels that way...
“Everybody now knows that all deposits at American banks will be protected by the Fed, as will the value of a large class of bonds at American banks.”
Not at the 4000 community banks.
Thanks for your insight, it’s appreciated. As upset as I am that bankers cannot seem to avoid bail outs again and again by government, including loans on bad bets already made, I’m a bit more concerned the fed seems to arbitrarily have closed signature for offering services to crypto companies, which haven’t been made illegal. I get the moral hazard of gambling, but casinos are allowed banking services and I fail to grasp the difference. I hope it’s not just sufficient donations to the politicians and regulators, but it feels that way...