Laffy

Via Maddow:

do you enjoy knowing that when you deposit money in a US bank, you won't lose that money? nice, right?

it's because bank deposits are insured by FDIC.

i don't know what FDIC ever did to these people, but apparently it too is now on their blow-it-up list: https://www.washingtonpost.com/business/2025/01/27/fdic-bank-examiners-job-offers-rescinded/

Banking regulator rescinds more than 200 job offers for examiners it needs

A government-wide hiring freeze is adding to a staffing shortage at the Federal Deposit Insurance Corp., complicating the agency’s efforts to oversee thousands of banks across the country.

The Washington Post
Jan 27 at 10:56pmWeb
Show threadSaupreiss #Präparat500Jan 27

@GottaLaff

Is this a BTC Marketing gag?

Show threadMamiyaMan 🇨🇦 🇺🇦Jan 27
@GottaLaff I need a stronger reaction than WTF???
Show threadLaffyJan 27
@mamiyaman This is what he wants.
Show threadDemocracy Dies in DumbassJan 27
@GottaLaff Anything that gives people a soft-landing in times of trouble are on the republicans hit list, because they need workers to be scared and desperate enough that they'll jerk off with sandpaper if their employers tell them to.
Show threadPeachMcDJan 27

@GottaLaff

I'd been pondering the FDIC motto at the top of the #citibank site that controls my Costco #VISA

"Backed by the full faith & credit of the US government"
😬🙄😒

I'd wondered how long before that was officially 💩
Guess I know now, huh?

Mark my words: #Crypto will do a more thorough job of wrecking our economic system than Adjustable Rate Mortgages

Show threadLaffyJan 27
@PeachMcD My words too. You can mark 'em all. Weeee!
Show threadPeachMcDJan 28

@GottaLaff

I just finished Endgame/Resistance by Derek Jensen & the irony of this bunch of fascists doing the 'work' of completely crashing civilization is not lost on me

God's sense of humor is necessarily ironic, n'est pas?
#KyrieEleison

Show threadNicole ParsonsJan 27

@GottaLaff

Defunding regulatory agencies is how Republicans orchestrated the 2008 global financial crash.

Collusion with Wall Street, that sent an entire generation of wealth upwards to the 1%

Trump continues his efforts to create another crisis to profit his donors.
https://www.motherjones.com/politics/2008/05/foreclosure-phil/

https://theintercept.com/2020/05/08/coronavirus-republicans-bank-deregulation-loans/

https://en.m.wikipedia.org/wiki/2007%E2%80%932008_financial_crisis

https://www.americanprogress.org/article/2008-housing-crisis/

https://www.forbes.com/sites/saradorn/2023/03/15/senate-democrats-who-voted-for-2018-bank-deregulations-say-they-have-no-regrets/

Foreclosure Phil

Years before Phil Gramm was a McCain campaign adviser and a lobbyist for a Swiss bank at the center of the housing credit crisis, he pulled a sly maneuver in the Senate that helped create today's subprime meltdown.

Mother Jones
Show threadlin11cJan 28
@Npars01 @GottaLaff
Thank you Nicole. You always find the truth in the chaos. This makes total sense to me.
Show thread🌻 Welcome Back 🌻Jan 28

@Npars01 @GottaLaff

to profit his donors and, more importantly, himself.

Show threadFrank SkorniaJan 27

@GottaLaff Didn't the FDIC bail out the depositors of that that billionaire bank in California a couple of years ago despite it not being really covered by it?
And this is how the FDIC gets repaid for its generosity?

https://www.fdic.gov/news/press-releases/2023/pr23019.html

FDIC Acts to Protect All Depositors of the former Silicon Valley Bank, Santa Clara, California | FDIC.gov

Show threadeswillwalkerJan 28
@fskornia They wanted more.
Show threadtj usiyanJan 28
@GottaLaff Something something 'crypto’
Show threadLaffyJan 28
@griotspeak 🎯
Show threadsamiamsamJan 28

@GottaLaff

so should i remove my paltry savings and get a bank safe deposit box?

not kidding

i've been putting a tiny amount per month in my company 401k, should i cash it out and put it in a safe deposit box?

not kidding, real question

Show threadMarc GeffenJan 28
@GottaLaff Well, if history rhymes expect a banking crises in a few years. Remember the ‘93 Savings & Loans crises? S&L’s were considered less risky (since they only made residential home loans) and so could be allowed less oversight than the FDIC required of other types of banks. Then they started making risky loans on commercial properties and undeveloped land, requiring massive taxpayers bailouts to protect depositors when those loans went sour. That’s what this is all about.
Show threadChookMother 🇦🇺🦘Jan 28

@GottaLaff Presumably all the public servants losing their jobs are going to go and pick fruit and vegetables so the country can eat, now the farm workers are being deported?

#TheViewFromOz

Show threadLittleTownJaneJan 28
@GottaLaff project 2025
Show thread⚯ Michel de Cryptadamus ⚯Jan 28

@GottaLaff the crypto bros are big mad about the collapse of #Silvergate and Signature banks (AKA "the big crypto banks"). the conspiracy theory they have about the #FDIC is called "Operation Chokepoint 2.0" if you want to look into it.

(the reality is that Silvergate and Signature banks were massive money laundering hubs, moving literally trillions of dollars a year in untracked funds outside of all money laundering regulations. they were both intimately connected to #FTX)

cc @KimPerales ICYMI

i published this 4 months before Signature Bank collapsed: https://cryptadamus.substack.com/p/signature-bank-ftx-and-trueusd-a

#SBNY #SI #SignatureBank #Crypto #OperationChokepoint #OperationChokepoint2

Signature Bank, FTX, Binance, and TrueUSD: A Tale of Questionable Judgement

If something is not "not illegal" then what is it?

The Cryptocalypse Chronicles
Show thread⚯ Michel de Cryptadamus ⚯Jan 28
@GottaLaff @KimPerales (#SignatureBank was also the #Trump and #Kushner family bank)
Show thread⚯ Michel de Cryptadamus ⚯Jan 28

@GottaLaff @KimPerales ivanka was even on the board of #SignatureBank, no doubt because of her financial acumen.

also not to be a dick but anyone like #Maddow doing political commentary in 2025 who "doesn't know what the #FDIC ever did to these people" is not even minimally informed about the events in the world around them and should probably not be doing political commentary. $0.02.

https://www.nytimes.com/2018/07/23/business/signature-bank-trump-kushner.html

#IvankaTrump #uspol #Trump

How a Small Bank Became a Go-To Lender to the Trump Family

Signature Bank’s close ties to the Trump and Kushner families have led to government scrutiny. New York regulators have opened an investigation.

The New York Times
Show threadCat WestJan 29
@GottaLaff They want to operate fraudulent ‘banking’ systems so they can rob people of their savings. Say “Oopsie! I’m rich because I accidentally lost alllll your money…”