Allison's bookmarks (tagged finance)

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Lessons from the Silicon Valley Bank bailout - by Max Read

"If all bank deposits are backed up by the full faith and credit of the U.S. government, banks in their capacity as depositories and payment processors are essentially public institutions. And if that’s the case, well, why is all my government-insured money funding privately held and profit-generating institutions? Why can’t I just open a free checking and savings account at the Post Office?"

politics finance