Lots of interesting news today

Got this in email this morning from the Libertas Institute. I have some of these books and my kids really like them.
Here's the list of banks that should be bailed out
🏦


​
First SVB, then Signature Bank… the past few days have seen a lot of turmoil in the banking industry.
So, I present to you… the comprehensive list of all banks deserving a bailout:
  1. None of them
  2. When in doubt, see #1
“There’s been a loss of financial discipline with the government bailing out depositors in full,” investor Ken Griffin said on Monday. He noted that these bailouts are an attack on the capitalist economy, which he said was “breaking down before our eyes.”
He's not wrong. Bankers and politicians are once again crying out for more intervention, more easy money, more kicking the can down the road.
And all of the problems stem from the Creature from Jekyll Island — the Federal Reserve that manipulates the interest rate and prints up funny money like there's no tomorrow.
I believe the solutions are simple: people who made bad decisions should have to suffer the consequences, rather than making the rest of us pay for their mistakes.
It's not rocket science. That's a principle so simple that most kids can understand it.
And there are a ton of kids who do understand it, because it's a theme throughout our Tuttle Twins books.
It's times like these that our mission becomes more focused — because we know that these principles need to be taught better in homes and schools throughout the country.
So we're doing our part by launching a massive discount today on a big bundle of educational content so your family — and your friends and neighbors — can focus on learning sound principles in a world filled with confusion.
​
More bailouts, more spending, more inflation. What can we do about it?
We can educate our kids and teach them true principles. We can help them understand why free markets are so important.
We can have family discussions about what’s going on and how we can protect our hard-earned savings from all the inflation and banking shenanigans happening.
We want to help… so grab our Bank Bailout Book Bonanza — a huge discount on our popular books through Saturday night!
This bundle includes (at nearly 80% off the total price!):
  • All 13 of our paperback children's books — teaching things like entrepreneurship, money, personal responsibility, true education, and much more…
  • All 13 of our PDF printable activity workbooks so your kids can keep learning the lessons after reading the book
  • All 13 of our MP3 audiobooks so your kids can listen along to a professionally recorded version as they read
  • All 13 of our PDF parent guides so that you can ask your child important discussion questions and have suggested answers to review
  • Our popular Tuttle Tales family card game to generate more discussions and creativity around the ideas from the books
  • 3 of our popular e-books
No coupon needed. Grab the bundle before Saturday and tell your friends — especially if they're a politician or a banker.
😎
Deal ends Saturday night!
countdownmail.com

We fight ignorance by teaching more people the truth.
Let's do our part by making sure our kids know the importance of free markets and personal responsibility.
And share the sale with a friend you think would want to pick up the deal!
—Connor





The thing really stuck with me was "We fight ignorance by teaching more people the truth." I'll be the first to admit that I spend more time complaining than educating and trying to improve. The left has figured out that the best way is to indoctrinate kids early in life, and unless we counter that, the direction will not change.
 
jeepinmatt said:
Got this in email this morning from the Libertas Institute. I have some of these books and my kids really like them.
Here's the list of banks that should be bailed out
🏦


​
​
​
​
​
​
​
​
First SVB, then Signature Bank… the past few days have seen a lot of turmoil in the banking industry.
So, I present to you… the comprehensive list of all banks deserving a bailout:
  1. None of them
  2. When in doubt, see #1
“There’s been a loss of financial discipline with the government bailing out depositors in full,” investor Ken Griffin said on Monday. He noted that these bailouts are an attack on the capitalist economy, which he said was “breaking down before our eyes.”
He's not wrong. Bankers and politicians are once again crying out for more intervention, more easy money, more kicking the can down the road.
And all of the problems stem from the Creature from Jekyll Island — the Federal Reserve that manipulates the interest rate and prints up funny money like there's no tomorrow.
I believe the solutions are simple: people who made bad decisions should have to suffer the consequences, rather than making the rest of us pay for their mistakes.
It's not rocket science. That's a principle so simple that most kids can understand it.
And there are a ton of kids who do understand it, because it's a theme throughout our Tuttle Twins books.
It's times like these that our mission becomes more focused — because we know that these principles need to be taught better in homes and schools throughout the country.
So we're doing our part by launching a massive discount today on a big bundle of educational content so your family — and your friends and neighbors — can focus on learning sound principles in a world filled with confusion.
​
​
​
More bailouts, more spending, more inflation. What can we do about it?
We can educate our kids and teach them true principles. We can help them understand why free markets are so important.
We can have family discussions about what’s going on and how we can protect our hard-earned savings from all the inflation and banking shenanigans happening.
We want to help… so grab our Bank Bailout Book Bonanza — a huge discount on our popular books through Saturday night!
This bundle includes (at nearly 80% off the total price!):
  • All 13 of our paperback children's books — teaching things like entrepreneurship, money, personal responsibility, true education, and much more…
  • All 13 of our PDF printable activity workbooks so your kids can keep learning the lessons after reading the book
  • All 13 of our MP3 audiobooks so your kids can listen along to a professionally recorded version as they read
  • All 13 of our PDF parent guides so that you can ask your child important discussion questions and have suggested answers to review
  • Our popular Tuttle Tales family card game to generate more discussions and creativity around the ideas from the books
  • 3 of our popular e-books
No coupon needed. Grab the bundle before Saturday and tell your friends — especially if they're a politician or a banker.
😎
​
​
Deal ends Saturday night!
countdownmail.com

We fight ignorance by teaching more people the truth.
Let's do our part by making sure our kids know the importance of free markets and personal responsibility.
And share the sale with a friend you think would want to pick up the deal!
—Connor





The thing really stuck with me was "We fight ignorance by teaching more people the truth." I'll be the first to admit that I spend more time complaining than educating and trying to improve. The left has figured out that the best way is to indoctrinate kids early in life, and unless we counter that, the direction will not change.
Click to expand...
I felt the exact same way when 2008 happened and I kept hearing people whine about predatory lending. You're an adult, making your own decisions and choices, be responsible for them. We cannot all be winners all the time. The best lessons I've learned in life , I learned the hard way. Without failure there can never be improvement.
 
BIGWOODY said:
If I were a bank CEO this morning, I'd be getting into some high risk investments, knowing the Fed was going to be my backstop. This will breed nothing but shenanigans among regional banks. Once again we are teaching people that there is no consequence for poor decisions and that breeds failure.
Click to expand...
You'd still be fired and your people lose your job. I consider that consequences. The only people being bailed out are the account holders....not the bank.
 
RatLabGuy said:
You'd still be fired and your people lose your job. I consider that consequences. The only people being bailed out are the account holders....not the bank.
Click to expand...
You're the CEO of a bank for 8 years....you make $300k a year plus other perks. You're an idiot and hire based on skin color and sexuality and engage in high risk banking behavior. You become a millionaire.

Then your piss poor planning takes out the bank. You're still a millionaire and will get another job based on all the connections you made over the years.

No Real lasting consequences for idiocy.

This is why it keeps happening.
 
benXJ said:
You're the CEO of a bank for 8 years....you make $300k a year plus other perks. You're an idiot and hire based on skin color and sexuality and engage in high risk banking behavior. You become a millionaire.

Then your piss poor planning takes out the bank. You're still a millionaire and will get another job based on all the connections you made over the years.

No Real lasting consequences for idiocy.

This is why it keeps happening.
Click to expand...
Yet, they aren't millionaires. They don't get to keep their 300k yearly. They own 1 million dollar houses and all sorts of toys. Not taking up of the bad decisions, but it's not all that simple and still hurts.
 
RatLabGuy said:
You'd still be fired and your people lose your job. I consider that consequences. The only people being bailed out are the account holders....not the bank.
Click to expand...
That's fine but what's wrong with following the laws that are already set in place? You're insured up to $250k per account. My bookkeeper just came in here two weeks ago and informed me she was moving money around because one of out accounts had surpassed that. If I understand how the banking system and the FDIC work why the hell can't everyone else?
The government once again is undermining the system and will only create a bigger mess. The regulators should all be fired after signing off on that shitshow of a bank, their board of directors only had one person who had any banking background, the rest were brought on out of "wokeness" and look at what that shit did?
 
BIGWOODY said:
That's fine but what's wrong with following the laws that are already set in place? You're insured up to $250k per account. My bookkeeper just came in here two weeks ago and informed me she was moving money around because one of out accounts had surpassed that. If I understand how the banking system and the FDIC work why the hell can't everyone else?
The government once again is undermining the system and will only create a bigger mess. The regulators should all be fired after signing off on that shitshow of a bank, their board of directors only had one person who had any banking background, the rest were brought on out of "wokeness" and look at what that shit did?
Click to expand...
Note... 5 years ago, what this bank did was illegal. 15 years ago everything was change to prevent exactly this. Our prior administration led a charge to relax the rules which then allowed this situation to happen. The regulators signed off because they had to.... regulators can - and should - only regulate to the extent they are beholden by the law.

You are correct that they are making a pretty massive exception above the $250k limit, and sure, in theory everyone should be conscious of this and plan accordingly. Although... if you're a company with $50mil in the bank, I don't know how you'd ever stretch that out to get covered like you did. You're going to have 200 bank accounts? it's not insensible for a company to have faith that their bank is actually worth their salt and not going to collapse... i don't really hold a lot of blame on the customers. It all falls on the leaders and investors. And those people just lost their jobs and their money, they are not being bailed out. All the assets of the bank will be liquidated and sold to teh highest bidder to pay off their debts, which means most investors will get fucked.

So the remaining question is - which one is worse. Make an exception this time so that those account holders don't get fucked, or risk the beginning of a major economic catastrophe because many $billions have been lost by people in a wide sector? That would cause an even bigger panic than we have going on right now, and possibly the beginnings of a huge crack in the glass. Plugging a small hole in the boat quickly before it becomes a giant hole that sinks the boat.
Does it suck? Yes. Bu it could suck a lot more.
 
Last edited:
benXJ said:
You're the CEO of a bank for 8 years....you make $300k a year plus other perks. You're an idiot and hire based on skin color and sexuality and engage in high risk banking behavior. You become a millionaire.

Then your piss poor planning takes out the bank. You're still a millionaire and will get another job based on all the connections you made over the years.

No Real lasting consequences for idiocy.

This is why it keeps happening.
Click to expand...
So what more do you want to happen? They didn't break the law. They can't be thrown in jail. Do you want more oversight? More regulation? We used to have that.
But best I recall you also bitch a lot about government regulation and intervention. You can't have it both ways.
 
RatLabGuy said:
Note... 5 years ago, what this bank did was illegal. 15 years ago everything was change to prevent exactly this. Our prior administration led a charge to relax the rules which then allowed this situation to happen. The regulators signed off because they had to.... regulators can - and should - only regulate to the extent they are beholden by the law.

You are correct that they are making a pretty massive exception above the $250k limit, and sure, in theory everyone should be conscious of this and plan accordingly. Although... if you're a company with $50mil in the bank, I don't know how you'd ever stretch that out to get covered like you did. You're going to have 200 bank accounts? it's not insensible for a company to have faith that their bank is actually worth their salt and not going to collapse... i don't really hold a lot of blame on the customers. It all falls on the leaders and investors. And those people just lost their jobs and their money, they are not being bailed out. All the assets of the bank will be liquidated and sold to teh highest bidder to pay off their debts, which means most investors will get fucked.

So the remaining question is - which one is worse. Make an exception this time so that those account holders don't get fucked, or risk the beginning of a major economic catastrophe because many $billions have been lost by people in a wide sector? That would cause an even bigger panic than we have going on right now, and possibly the beginnings of a huge crack in the glass. Plugging a small hole in the boat quickly before it becomes a giant hole that sinks the boat.
Does it suck? Yes. Bu it could suck a lot more.
Click to expand...
If I've got 50mil in a bank you can damn sure bet I've got people making sure the bank is stable, again this dodges responsibility and I'll never get good with that. This is the gov. wiping our ass, making sure we all get a trophy.
 
BIGWOODY said:
If I've got 50mil in a bank you can damn sure bet I've got people making sure the bank is stable, again this dodges responsibility and I'll never get good with that. This is the gov. wiping our ass, making sure we all get a trophy.
Click to expand...
I'm not sure how you expect people to know wtf is going on behind the scenes at the bank.
Remember up until last week, publicly this was a regular bank with normal accounts and a high rating. No signs that a normal user should be wary of. We're talking about people opening savigs and checking accounts, not investment in the bank itself. Up until a few years ago the shit they were doing was illegal.
And then... wait, so there's news that they're doing shady shit, and may be risky? What do you do? Just like you'd suggest - you pull your account, withdraw your cash. And that's exactly what happened. When word got out it wasn't secure, people bailed.
And THAT is what actually brought it down - the run on withdrawals. Should those people have not reacted and pulled their money out? Are they responsible for bringing the bank down bc they did that?

Of course hindsight is 2020... I just down't get the distain for people who were just using the bank. It's hard for me to see how they fucked up and got what they deserved. They just got fucked. Which... yes, sometimes life fucks you.
Wiping ass - yes. Sometime adults get the runs too. I guess the question is, is it OK to wipe a few asses early to keep it from becoming a giant pile of stinking dingleberries?

I'm not happy the FDIC did what they did and went over their policy either. It sets a bad precident. "No problem here, we've got this under control." The question is, what's worse. In banking it's 100% about perception, the value of a bank is solely on the perception of security. People are dumb and finicky and since our financial system is really stupidly set up, if everybody thought that there was a systemic problem and yanked their cash at once we'd all be fucked. Was it the right call? I don't know. Maybe we dodged a bullet. Maybe its still there waiting for us.

But can we at least use the right terms and be clear that the account holders were bailed out, the banks were not.
 
awheelterd said:
Share this article far and wide. Hopefully more of their type follow suit.

www.businessinsider.com

We moved to North Carolina but are about to leave because the salaries aren't high enough and the diversity we value ends at the city limits

Cielo De Jose and William Scott left California because of overcrowding and work stress, but North Carolina did not provide the relief they sought.
www.businessinsider.com www.businessinsider.com
Click to expand...
Will: In the uptown area of Charlotte around NoDa and the trendy areas by the college, it seems very diverse and the people seem very friendly.

But as soon as you get outside of that, there becomes a very real, very noticeable racial divide. It becomes very Black and white.

That becomes very uncomfortable. We didn't notice it when we visited the first few times because we mainly stuck to the city and towards the college areas.
Click to expand...
so who's the racist here?
 
awheelterd said:
Share this article far and wide. Hopefully more of their type follow suit.

www.businessinsider.com

We moved to North Carolina but are about to leave because the salaries aren't high enough and the diversity we value ends at the city limits

Cielo De Jose and William Scott left California because of overcrowding and work stress, but North Carolina did not provide the relief they sought.
www.businessinsider.com www.businessinsider.com
Click to expand...
Will: We're in the northeast part of North Carolina. We're in this nice little bubble where the weather is pretty much always mild. Charlotte is a very pretty city.
Screenshot_20230315_232043.jpg


I'm sorry, what in the Californian geography is he talking about. PLEASE go back.
 
RatLabGuy said:
Note... 5 years ago, what this bank did was illegal. 15 years ago everything was change to prevent exactly this. Our prior administration led a charge to relax the rules which then allowed this situation to happen. The regulators signed off because they had to.... regulators can - and should - only regulate to the extent they are beholden by the law.

You are correct that they are making a pretty massive exception above the $250k limit, and sure, in theory everyone should be conscious of this and plan accordingly. Although... if you're a company with $50mil in the bank, I don't know how you'd ever stretch that out to get covered like you did. You're going to have 200 bank accounts? it's not insensible for a company to have faith that their bank is actually worth their salt and not going to collapse... i don't really hold a lot of blame on the customers. It all falls on the leaders and investors. And those people just lost their jobs and their money, they are not being bailed out. All the assets of the bank will be liquidated and sold to teh highest bidder to pay off their debts, which means most investors will get fucked.

So the remaining question is - which one is worse. Make an exception this time so that those account holders don't get fucked, or risk the beginning of a major economic catastrophe because many $billions have been lost by people in a wide sector? That would cause an even bigger panic than we have going on right now, and possibly the beginnings of a huge crack in the glass. Plugging a small hole in the boat quickly before it becomes a giant hole that sinks the boat.
Does it suck? Yes. Bu it could suck a lot more.
Click to expand...

Let the bank fail. Have the customers hold the bankers civilly responsible and it puts the other banks on notice and it doesn’t happen again. If I, in my profession, fuck up and do high risk shit, I am personally responsible. Why are these other people not.
 
RatLabGuy said:
I'm not sure how you expect people to know wtf is going on behind the scenes at the bank.
Remember up until last week, publicly this was a regular bank with normal accounts and a high rating. No signs that a normal user should be wary of. We're talking about people opening savigs and checking accounts, not investment in the bank itself. Up until a few years ago the shit they were doing was illegal.
And then... wait, so there's news that they're doing shady shit, and may be risky? What do you do? Just like you'd suggest - you pull your account, withdraw your cash. And that's exactly what happened. When word got out it wasn't secure, people bailed.
And THAT is what actually brought it down - the run on withdrawals. Should those people have not reacted and pulled their money out? Are they responsible for bringing the bank down bc they did that?

Of course hindsight is 2020... I just down't get the distain for people who were just using the bank. It's hard for me to see how they fucked up and got what they deserved. They just got fucked. Which... yes, sometimes life fucks you.
Wiping ass - yes. Sometime adults get the runs too. I guess the question is, is it OK to wipe a few asses early to keep it from becoming a giant pile of stinking dingleberries?

I'm not happy the FDIC did what they did and went over their policy either. It sets a bad precident. "No problem here, we've got this under control." The question is, what's worse. In banking it's 100% about perception, the value of a bank is solely on the perception of security. People are dumb and finicky and since our financial system is really stupidly set up, if everybody thought that there was a systemic problem and yanked their cash at once we'd all be fucked. Was it the right call? I don't know. Maybe we dodged a bullet. Maybe its still there waiting for us.

But can we at least use the right terms and be clear that the account holders were bailed out, the banks were not.
Click to expand...

I see a bit of both sides on if it should be bailed out

Vc folks caused a run on the bank also.

But also No large corp is going to be able to stay under the fdic limit at banks. Payroll alone is way more than 250k. A bank that has been around 20 years you wouldn’t expect to just fail in a few days.
 
awheelterd said:
Share this article far and wide. Hopefully more of their type follow suit.

www.businessinsider.com

We moved to North Carolina but are about to leave because the salaries aren't high enough and the diversity we value ends at the city limits

Cielo De Jose and William Scott left California because of overcrowding and work stress, but North Carolina did not provide the relief they sought.
www.businessinsider.com www.businessinsider.com
Click to expand...


WTAF LOL

Charlotte is just gorgeous — I do like the nature here

Go back to commiefornia, and quickly.
 
Futbalfantic said:
Let the bank fail. Have the customers hold the bankers civilly responsible and it puts the other banks on notice and it doesn’t happen again. If I, in my profession, fuck up and do high risk shit, I am personally responsible. Why are these other people not.
Click to expand...
They did. That's literally what's happening now. All the banks assets will be sold and split between debtors.
 
I have met a few Comiefornia Red Necks. Country boys who sound different. They line up with a few Northern South Paws I have met as well. They prove like minded folk are found from all over. Problem is the idiots and brainwashed are twice as prolific. A church elder and previous employer, most of all respected friend saw me and my son at a close family members funeral. We shook hands and without missing a beat dead in the middle of the crowd he said this directly to my son: "Blake you need to get to breeding".

Knowing his principles I immediately knew direction the conversation was heading. Funny he was the one man who warned me about my first marriage. He was dead on about it.
 
RatLabGuy said:
They did. That's literally what's happening now. All the banks assets will be sold and split between debtors.
Click to expand...

No the people who the bankers were serving don’t have any skin in the game. The FDIC went above and beyond and reimbursed them. They will not and cannot go after the bankers with vigor
 
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