The White House is Whistling Past America's Bank Graveyard

Add in the ESG stupidity and the woke blinders guiding board members making decisions.
They never thought, after banning President Trump from their arena, that their Biden could ever allow things to go south. Just Socialists in denial.
Aren't they lucky their bigot in charge was able to bail them out to the penny with taxpayer money?
The silver lining to this dark cloud? If our banks fail, Biden can't support his terrorist friends in Iran and Ramallah.

Zero interest rates, quantitative easing, bungled supply chains, deficit spending, stymied oil production are of no consequence. Ask the democrats. More regulation, more taxing and more spending are the answer. Is inflation bad? ESG, DEI and attention to global warming are now banking priorities. Having enough assets to cover deposits in the age of "modern monetary theory" is no longer relevant. Should we begin to question the competence of our elite experts in the current administration? Actually, a little doubt in their competence might be warranted.

"Inflation is made in Washington because only Washington can create money, and any other attribution to other groups of inflation is wrong. Consumers don't produce it. Producers don't produce it. The trade unions don't produce it. Foreign sheikhs don't produce it. Oil imports don't produce it. What produces it is too much government spending and too much government creation of money and nothing else." — Milton Friedman.

It must be that that for decades most members of the Federal Reserve Board and Treasury Secretaries, and the vast majority of Congressional members, both House and Senate, either are willfully unaware of Friedman's clear and simple five sentence explanation of inflation's sole cause, or they have chosen willfully to disregard it's meaning and impact, particularly when applied to the U.S. dollar – a "fiat currency" since 1971 when the U.S. government severed the direct convertibility of the U.S dollar into gold. Ever since 1971, the Federal Reserve simply prints currency whenever U.S. government needs more money.

Since 2021, the U.S. government has been on a money binge, injecting +$6 trillion dollars in less than two years into a debt laden economy lacking any meaningful manufacturing basis. Well, the current real inflation rate of +18% y.o.y. must continue to rise, and the dollar's value must continue to decline: The FED no longer controls its Kraken.

And the FED is not the only significant contributor to inflation but also, may be less significant than the Dragons of volatile OTC "derivatives" first spawned by the Gramm-Leach-Bliley Act of 1999," P.L. 106-102, repealing the Glass-Steagall Act of 1933's mandate of functional separation of financial banking and investment banking.

Derivatives' values simply are fluctuating series of 1s and 0s that, collectively, may involve total values on the quadrillion order – thousands of trillions.

Sam Zell of Equity Group Investments, "This is the Weimar Republic".

Our fiat currency is much the same but we call it actual value. It is colored paper backed up only by the faith in the issuing government. Silicon Valley Bank may as well have put a sign on their doors "Rip us off.... please!" About 180 billion dollars in that bank was not insured. The taxpayers are NOT responsible for that money.

Stolen elections have serious consequences, as we are all seeing.

You need to credit Obama as he crowned a post WWII communists intelligentsia effort who came to America applying Nazi methodology to spread communism in the USA . Obama divided America along racial lines in his second term; election fraud claims impeachments then bloody riots in summer 2020 saw Trump off. In Obama's third term, drivers of the agenda have gone for the kill destroying the economy, capitalising on Covid to gain the 2020 election. Now they intend to crash the economy to a knife through the mighty dollar. Meantime, patriots sleep satisfied with debates and investigations in Congress. RIP the free world

The Biden government is pathetic. They do not care what happens to economy or society as long as it becomes more and more diverse, inclusive and equitable. To hell with whether it works or makes America more secure, prosperous and solvent. Who cares what identities the people running the show have. The main thing is that it works and does not bankrupt us all. I cannot wait for Joe Biden to go back to his basement and stay there forever. And all the Democrats fail to be reelected and have nothing better to do with their time.

Well put! After all the incompetence displayed by this administration over the past two years, who would have expected a banking crisis, huh? I wonder what they'll hit us with next.