But I am saying that he’s right that — that our system is breaking down, and that we absolutely have a major problem in our economy today. And I’m not going to on whether or not you bail out a bank or something like that. But you can’t have the country feeling that it doesn’t matter if they save, it doesn’t matter, because they could spend all the money they want. They could do whatever you want, because the government will bail you out. You can’t — he’s right about that. You can’t have that.
Hat tip to Don Suber: The end of banking?
Fortune just admitted that $250,000 limit is balderdash. The FDIC will insure all accounts to the full because all these banks pay the right politicians off. Long before he pimped his son out to Burisma in Ukraine, they called Joe Biden “D-MBNA” because his other son was a registered lobbyist for the credit card company while Biden worked on credit card regulation.
Well, at least all of the account holders that are nice to Democrats will be insured. The rest of us, probably not so much.
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