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by quadrifoliate
1199 days ago
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> By Monday morning? With protections in place against fraud or double-dipping? It wouldn’t be as easy as you think. But you are somehow convinced that this fund [1] created in 1 day by the Fed to solve "temporary liquidity issues" with vague promises of "loans against securities" and "assessment charged on the banks" will be entirely free of fraud or double-dipping? Everything involving money has the potential for fraud and double-dipping, and the banking sector has a ton of it. We can figure it out and prosecute people afterwards (or not, it's not like senior management at SVB is going to be prosecuted). > (And for the nth time, SVB isn’t being propped up. The owners are losing their whole stake.) Oh sure, three Federal departments make a joint statement on the weekend and create a new liquidity fund every time a company goes bankrupt. Nothing to see here! ---------------------------------------- [1] https://www.federalreserve.gov/newsevents/pressreleases/mone... |
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