It won’t cost the taxpayers anything ?!!! he talked about the bank failure, Silicon Valley Bank. It was not the tooth fairy, or the easter bunny, NO IT IS THE PRESIDENT JOE BIDEN. I am not comparing him to the easter bunny or tooth fairy, but he is trying to be a used car salesman,a poor one.
His rationalization is the deposter, many Demicrater doner will be covered under the FDIC insurance program This program only covers up to 250 thousand per dep. So by executive order, he wants to cover their full amount in the bank. But here is the rub, many of them have millions and million in the bank.
Many of these are supporters of the liberal, woke dem.So he is trying to protect the golden goose
The program was impermanent to prevent a run on the banks,to keep confidence in our banking system, so we do not have a run on the bank like we had in The nineteen twenty,
NOW HERE COMES THE USED CAR, BATE, AND SWITCH! The federal reserve may run out of money to cover this bank, if not they will, if they haft to bailout many banks, then the small depositor like you and me will be lifted to fend for ourselves, so congress will haft to pass a bill to print more money to bail out the insurance system.
That leads to more inflation taxes, our money this week is not worth what it was last week.
President Biden’s administration thinks that we are to dumb to cross the dots, We are not that dumb.
You can fool some of thevoter some of the time, and You can fool some of the voters all of the time, but you can not fool all the voters all of the time!
Personally Mr president you will go down in history ,as the worst president in the history of our country and in the foreseeable future.
Please don’t become a used car salesman, because it is above your pay grade!
And That is the way I see it