Wall Street goes by rules different from those applied to you and me.
. about an apparent double standard when it comes to banks like SVB, Signature and Silvergate: “The government has not asked questions of the banks for this latest bailout—protecting the priorities of banks and shareholders. But for the rest of us, not so much.”
She added: “It’s important for Demos to be on the ground and keep our eyes on financial institutions. We have to have public accountability.” The best example of that double standard is 2008’s bank meltdown and the government’s Troubled Asset Relief Program rescue plan, which loaned $426.4 billion to failing bank firms. Meanwhile, nearly 10 million Americans, in mostly Brown and Black neighborhoods, lost their homes, getting “not so much” help.
, wrote that as more community banks shuttered post-2008 and Wall Street banks grew bigger, by 2019 account holders were paying over $11.6 billion in overdraft fees. Admittedly this was largely paid by only 9 percent of customers. Who were they?The U.S. Department of Treasury building joined other government financial institutions to bail out Silicon Valley Bank’s account holders after it collapsed on March 13, 2023. U.S. President Joe Biden tried to assure the public that the U.S.
Clearly, owning a Wall Street bank pays off better than owning a used Honda. Because bank credit becomes a debit whenever you use it, bank credit cards could more accurately be called debt cards, with interest added in. Credit’s root, the Latin, literally means, “I believe.” Wall Street’s biggest players keep saying to the public: “I believe you will pay.”
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Asia markets fall as Wall Street marks four-day losing streak on banking woesAsian markets are lower as banking fears reignited on Wall St, sending all three major indexes down for a fourth day.
Read more »
Stock market today: Wall Street sinks as bank fears flareAsian stocks have risen while Europe markets opened lower after the Federal Reserve raised its benchmark lending rate again to cool inflation and said it wasn’t sure what may come next.
Read more »
Wall Street subdued on caution ahead of Fed meeting outcomeWall Street's main indexes were muted on Wednesday as investors steered clear of big bets ahead of the Federal Reserve's policy decision later in the day, while regional banks took a breather after a steep selloff in the previous session.
Read more »
Qualcomm stock slides as outlook falls short of Wall Street expectationsQualcomm Inc. shares decline in the extended session Wednesday after the chip maker's outlook fell short of Wall Street estimates.
Read more »
PacWest shares crumble as Wall Street shuns midsize banksShares of PacWest Bancorp crumbled after the close of trading on Wednesday, diving 55% to $2.88 amid a report by Bloomberg News that the $44 billion bank is weighing its strategic options, including a possible sale.
Read more »
Some Wall Street Takes On Tesla's Q1 2023 Earnings - CleanTechnicaTesla’s Q1 earnings call saw mixed responses from Wall Street, largely due to how its price cuts affected its margins during the quarter.
Read more »