[mejutoco]

Exactly. And regarding

> only a central bank can fully guarantee a deposit

The buck stops at the government, as we are seeing with changing laws to allow Credit Suisse acquisition or by Biden and European representatives statements abou "doing whatever is needed" or similar.

[jpmattia]

> The buck stops at the government, as we are seeing with changing laws...

Not to mention the majority party in the US House is threatening default.

[guessbest]

The party in the House always threatens to not raise the debt ceiling if the POTUS is of a different party. It has been like this for decades.

[danaris]

I think if you actually look at the history of this, you'll find that it's almost always the Republicans who threaten not to raise the debt ceiling.

Certainly, all the notable debt ceiling crises listed here[0] were instigated by Republican Congresses.

[0] https://en.wikipedia.org/wiki/United_States_debt_ceiling

[ddulaney]

It didn't really happen as much over the last 4 years.

As they say, the deficit hawk is a seasonal bird.

[jjeaff]

No, it's specifically the Republican party that threatens to default on the debt ceiling if the president is a Democrat.

[HWR_14]

Just to be clear, those are two different things. The Biden administration's response is using powers granted to the executive branch explicitly to save banks. The Swiss government seems to be modifying their laws to save CS (by getting it acquired).