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  1. Hi there... Can you please quickly check to make sure your email address is up to date here? Just in case we need to reach out to you or you lose your password. Muchero thanks!

trump wants to eliminate or diminish the FDIC

Discussion in 'Too Hot for Swamp Gas' started by ursidman, Dec 16, 2024.

  1. ursidman

    ursidman VIP Member

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  2. sierragator

    sierragator GC Hall of Fame

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    uninsured savings, what could possibly go wrong? If they want to go all retro, why not bring back debtors prisons?
     
  3. wgbgator

    wgbgator Premium Member

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    They seem intent on killing the golden goose and turning back the financial system to pre-Depression configuration. Even the next FDR will probably have contracted polio once they make vaccines optional.
     
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  4. archigator_96

    archigator_96 GC Hall of Fame

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    no
     
  5. slocala

    slocala VIP Member

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    Not everything is doom and gloom. The actual federal insurance doesn’t go away, just moves the function of the FDIC into a higher level admin function in Treasury. Does the cost to banks decrease as a result? Maybe. The value prop is TBD.
     
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  6. VAg8r1

    VAg8r1 GC Hall of Fame

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    Part of the MAGA agenda, the FDIC is another government agency that needs to be eliminated. A bank run in the early 1930s, back when America was Great.
    [​IMG]

    Although he is totally ignorant of history Donald Trump is doing his best to be the next Herbert Hoover. Back when Hoover was president bank deposits weren't insured, the financial markets were unregulated and Hoover signed into law the Smoot Hawley Tariff Act, the largest tariff in American History. By the way except for the tariff Hoover inherited the situation. Trump is doing his best to recreate it.
     
    Last edited: Dec 16, 2024
  7. PetrolGator

    PetrolGator Lawful Neutral Premium Member

    Do you have a link on this, by chance? I’m curious to read the proposal in detail before I form an opinion. Thanks!
     
  8. okeechobee

    okeechobee GC Hall of Fame

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    Yes, I'm sure he doesn't know that. :rolleyes:
     
    Last edited: Dec 16, 2024
  9. ursidman

    ursidman VIP Member

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    I would much prefer that FDIC retain its independence that it was established with in 1933. Unless someone can explain what problem eliminating the FDIC would solve. It does not take much of an imagination to think of the ensuing malfeasance that could ensue from our new oligarchs without it.
    https://archive.fdic.gov/view/fdic/6801/fdic_6801_DS1.pdf
     
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  10. wgbgator

    wgbgator Premium Member

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    I think its a case of the libertarian right finding common cause with the crypto-bros & scammers. If putting your money in the bank is more of a crap shoot in people's minds, people will move more money to more riskier unregulated assets and outright scams (I'm sure all the gold and silver people will love it too).
     
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  11. gator_jo

    gator_jo GC Hall of Fame

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    Jeez, the guy was able to coordinate with a corrupt judiciary in order to keep himself out of jail.....isn't that enough?

    Why doesn't he just go steal some more stuff, and quit pretending that knows anything about anything.....besides using fraudulent information to con banks into making him loans, that is.
     
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  12. ursidman

    ursidman VIP Member

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    I can see it having that effect.
     
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  13. exiledgator

    exiledgator Gruntled

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    My immediate thought upon reading the thread title was that I should see what my 0.5 ETH coins are worth. (up 5% today, BTW).
     
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  14. VAg8r1

    VAg8r1 GC Hall of Fame

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    Although I'm sure that you're being facetious and trying to inject a little humor in this thread, it's one of the few times that one of your posts is completely accurate.
     
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  15. channingcrowderhungry

    channingcrowderhungry Premium Member

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    Yeah but what are your Hawk Tuah girl coins worth?
     
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  16. gator_jo

    gator_jo GC Hall of Fame

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    FC.png
     
  17. channingcrowderhungry

    channingcrowderhungry Premium Member

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    Bottom of a pint glass
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  18. exiledgator

    exiledgator Gruntled

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    I'll let you know what comes of my lawsuit. I'm penniless now

    I put it all on her, but it seems she just sucked me dry.
     
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  19. channingcrowderhungry

    channingcrowderhungry Premium Member

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    I hope she Hawk Tuahed on it before she sucked you dry.
     
  20. exiledgator

    exiledgator Gruntled

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    Nope. Part of the lawsuit
     
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