space laser Herald

Idiot Businesses Get a Bailout--- --

Indebted College Kids Get Lawsuits

(The New Republic)epublic)

The bailouts of Silicon Valley Bank and Signature Bank have introduced a new concept to bank regulation: Too Midsize to Fail.

 

Silicon Valley Bank had $209 billion in assets. That’s a rounding error at J.P. Morgan Chase, the largest bank in America, which has $3.3 trillion in assets.

 

The largest bank failure in history (Washington Mutual in 2008, later absorbed into J.P. Morgan Chase) carried a nominal price tag of $307 billion, which in today’s dollars is $435 billion

 

By comparison, with Biden’s attempt to cancel $430 billion in student debt....

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