Silicon Valley Bank Bailout is Socialism for the Rich

Teetering banks put Biden between a bailout and a hard place ahead of the 2024 race

Silicon Valley Bank Bailout is Socialism for the Rich

These entrepreneurs either knew, or should have known, the risks they were taking, and the government should not be in the business of rewarding this arrogance and stupidity. A government bailout is nothing more than a backdoor that will leave taxpayers on the hook for the foolish decisions of so-called capitalists who are unwilling to pay the costs of risks gone awry.

Yes, the SVB Bailout Is Socialism for the Rich
If a Bank Can’t Do Something as Basic as Secure Deposits, Why Do We Have Banks in the First Place?
Yes, the fact that US government will, to use the words of Rich Smith, cover all depositors at Silicon Valley Bank (SVB) made it clear that the rich have no problem with socialism when their highly leveraged money is on fire. This sorry business of going on and on about how the bailout will ultimately benefit Joe the Plumber (he will get his paycheck!), is the oldest con in the book.

Wall Street loves socialism for bankers – but not for ordinary people
Robert Reich
Dimon should know. He was at the helm when JPMorgan received a $25 billion socialist-like bailout in 2008, after it and other Wall Street banks almost tanked because of their fraudulent loans.

JPMorgan CEO Jamie Dimon decries socialism. Unless of course it’s the banks that need a government bailout

The Only Real Socialism in the US Is Corporate Welfare
We do have socialism in this country—but it’s not Democrats’ policies. The real socialism is corporate welfare.

Trillions of Dollars in Bank Bailouts: Socialism for the Rich?

JPMorgan’s Jamie Dimon’s ascent to the highest tier of Wall Street power also depended heavily on the Crown family – whose deep ties to organized crime and the military-industrial complex made them one of the richest, most powerful and most corrupt families in America.