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Reckless Capitalist Banks Rescued by Government Socialism – Again!

Once again, government socialism – ultimately backed by taxpayers – is saving reckless midsized banks and their depositors. Silicon Valley Bank (S.V.B) and Signature Bank in New York greedily mismanaged their risk levels and had to be closed down. The …

Once again, government socialism – ultimately backed by taxpayers – is saving reckless midsized banks and their depositors. Silicon Valley Bank (S.V.B) and Signature Bank in New York greedily mismanaged their risk levels and had to be closed down. The Federal Deposit Insurance Corporation (FDIC), in return, to avoid a bank panic and a run More

The post Reckless Capitalist Banks Rescued by Government Socialism – Again! appeared first on CounterPunch.org.


This content originally appeared on CounterPunch.org and was authored by Ralph Nader.


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