Comments by "Daniel Bradford" (@Falconlibrary) on "‘Asleep At The Wheel’: Tim Scott Denounces Regulators’ Role In Silicon Valley Bank Collapse" video.

Senator Lankford of Oklahoma asked Janet Yellen if ALL accounts over $250k are now covered by the FDIC. Yellen's response was that they're only covered IF she and the FDIC decide that not covering those uninsured accounts poses "systemic risk" to the banking system. Which means the account has to be in a "too big to fail" bank. But both the head of Signature and SBV lobbied Congress to not apply Dodd-Frank reserve requirements to them, because their banks were too small to pose "systemic risk". So Yellen and the FDIC are pushing people towards the big banks and trying to kill regional and community banks. Not only that, but "systemic risk" is just cover for "rich people we care about were going to lose some of their money". Socialism for the rich, rugged capitalism for the rest of us. The corruption in Washington, D.C. has never been worse.
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