All I want is for the rules to be followed — the ones we all agreed to before this happened. That means no bailouts for anybody, and unfortunately that means some tough lessons would have to be learned.
When an event like this happens and all the sudden the government puts the rest of the public on the hook for the losses, it disastrously erases trust. After 15 years, MOST Americans still have zero trust that the rules are fairly applied. The hidden expense is a lot of cynicism and unrest. We can’t tolerate more of that.
The public can’t mitigate the risks of depositors, and unless you want to invite them into that arena, follow the written rules. We already have a process in place, we only need to follow it now.
The political side of me wants this, no handouts for wealthy. The contractor who works for startups in me, is afraid of not getting payroll, and we live paycheck to paycheck, so I'm just hoping my clients bank elsewhere.
When an event like this happens and all the sudden the government puts the rest of the public on the hook for the losses, it disastrously erases trust. After 15 years, MOST Americans still have zero trust that the rules are fairly applied. The hidden expense is a lot of cynicism and unrest. We can’t tolerate more of that.
The public can’t mitigate the risks of depositors, and unless you want to invite them into that arena, follow the written rules. We already have a process in place, we only need to follow it now.