Yup, the original inequality did seem at odds with my expectations! -- No harm done. We all make mistakes, and I certainly make WAY more typos and mistakes that I have ever seen in your posts. -- Dear HCR, what is far more important is your brilliant explanation in layperson's terms about the FDIC, the SVC situation in particular, and, as always, the historical context behind our current events. Thanks!
Yes, an excellent explanation even for me an economic dolt. Our ex-banker neighbor issued a warning this weekend about this failure and tied it to the R threat concerning the debt ceiling. I note that those who oppose government regulation want a rescue and are first in line when there is a problem.
Reminds me of Florida and Ohio clambering for FEMA help with each major climate / catastrophe crisis. Otherwise, their governors sneer at the federal government "safety net". It turns out for everybody but them, right? Definition of hypocrisy.
Yes, funny how that works. First in line for their own bailout, in amounts over $250,000, and also first in line to rail against giving a helping hand to college students in need of debt relief. Student loan debt relief to the tune of $10,000 - $20,000 per student. And they see no hypocrisy in that because they are entitled.
Yes, thank you Steve for kudos to our mind expanding mentor, HCR!
Now if we could get the facts out in the whole country in great big letters and explanations. Regulations make a Capitalist Democracy strong and great! Just like тАЬregulations( boundaries) make young people become strong and great.
I share HCR daily letters on Facebook. I am never sure how many take the time to read! I wish all of my friends would read and then that they would share! But, this dreamer knows that will never happen! I am sure I have a lot of stalkers! Read and run!
Dear Jean, because it mattersтАжthe USA is not a тАЬCapitalist DemocracyтАЭ but ratherтАжa constitutional federal republic. What does this mean? тАЬConstitutionalтАЭ refers to the fact that government in the United States is based on a Constitution which is the supreme law of the United States. The Founding Fathers wanted republicanism because its principles guaranteed liberty, with opposing, limited powers offsetting one another. Regulation is like тАЬPorridge,тАЭ often times itтАЩs too hot while other times itтАЩs too cold. Regulation combined with Mandates = Socialism/CommunismтАжwhich is something too many US citizens donтАЩt really understand. So be careful with your calls for more regulations тАФ youтАЩll be super-excited in the beginningтАжright up until youтАЩre disenfranchised during every facet of your day down the road.
You ended your post with тАЬNothing becomes great without order.тАЭ Did you feel that way during the BLM - ANTIFA riots that caused more than a Billion in damages across the country?
Excerpt: "Some of those facing charges undoubtedly share far-left and anti-government views. Far-right protesters also have been arrested and charged. Some defendants have driven to protests from out of state. Some have criminal records and were illegally carrying weapons. Others are accused of using the protests as an opportunity to steal or create havoc.
But many have had no previous run-ins with the law and no apparent ties to antifa, the umbrella term for leftist militant groups that Trump has said he wants to declare a terrorist organization."
{SNIP}
In thousands of pages of court documents, the only apparent mention of antifa is in a Boston case in which authorities said a FBI Gang Task Force member was investigating тАЬsuspected ANTIFA activity associated with the protestsтАЭ when a man fired at him and other officers. Authorities have not claimed that the man accused of firing the shots is a member of antifa."
Excerpt: "Were people who identify as тАЬantifaтАЭ in fact involved in the 2020 racial justice protests? We looked at the data to find out.
{SNIP}
AntifaтАЩs presence was rare and concentrated in a few regions
Out of nearly 14,000 racial justice protests in 2020, antifa was identified in just 37, or 0.2 percent. That would not qualify as an infiltration of the Black Lives Matter movement.
Antifa activity in racial justice protests was limited mostly to the Pacific Northwest, California and D.C. More than one-third of antifaтАЩs protest appearances occurred in Oregon and Washington.
AntifaтАЩs presence contributed significantly to protest violence
When antifa did attend protests, the incidence of violence was extremely high compared to the level at protests it did not attend. Of the 37 racial justice protests where antifa appeared, 11 тАФ or 30 percent тАФ involved injuries to the crowd; when antifa did not appear, only 2 percent of the protests involved crowd injuries. With antifa present, 14 percent of protests involved injuries to police; without antifa, only 2 percent did. When antifa showed up, 27 percent of protests involved property damage; without antifa, only 4 percent did. And when antifa appeared, 30 percent of protests involved arrests, while only 7 percent of the antifa-free protests did.
In other words, antifa appearances at racial justice protests greatly increased the risk of violence.
But antifa shows up primarily when it wants to counter a right-wing groupтАЩs appearance. So, were right-wing groups the real source of the violence? ThatтАЩs not what our research found. We saw no difference between events in which antifa was facing off with a group such as the Proud Boys or the Three Percenters and when they were protesting unopposed."
So, I will correct myself about the sources of violence *when* Antifa was identified as present but note that this was the case in a tiny percentage of protests: "Out of nearly 14,000 racial justice protests in 2020, antifa was identified in just 37, or 0.2 percent." There was far more violence perpetrated by right-wing extremists as documented in court documents of arrests.
The reality is тАЬgroup-thinkтАЭ has destroyed individuals desire to seek the truth. One side says all problems are created by Democrats and the other says everything is the RepublicanтАЩs fault. Guess whatтАжitтАЩs BOTH! With regards to the Proud-Boys and ANTIFAтАЩs involvement in the BLM protests... best intelligence (if one is seeking the truth) says they both had a presence and wreaked plenty of havoc as a result. Bottom line, people need to STOP it already with my Democratic Representatives and Senators and/or my Republican Representatives / Senators are working in my best interest. ItтАЩs all about MONEY and POWER. Need proofтАж? Just look at the тАЬCongressionalтАЭ Stock-Performance results compared to the BEST and BRIGHTEST individual and/or investment firm performances. Can you say тАЬlegalized-insider-tradingтАЭ going on each and every single day? ItтАЩs appalling if you think about itтАжworst offenderтАж? Drum roll pleaseтАж.Nancy PelosiтАж! This is from the Huffington Post so those on the LEFT can forget about using the тАЬI donтАЩt trust your sourceтАЭ argument. ItтАЩs the flipping HUFFINGTON Post for HeavenтАЩs sakes.
HereтАЩs another report on тАЬInsider-TradingтАЭ in Congress. Once again, these Representatives and/or Senators are not focused on making America strong and vibrant тАФ most interested in POWER and getting RICH.
Regarding Antifa presence in racial justice protests, see the free Washington Post link I posted above. From the WaPo article: "Out of nearly 14,000 racial justice protests in 2020, antifa was identified in just 37, or 0.2 percent. That would not qualify as an infiltration of the Black Lives Matter movement."
Dear Judith, thanks for providing a perfect example of whatтАЩs wrong with critical thinking in America these days. Not being snarky, just pointing out that itтАЩs extremely difficult to get to the truth because тАЬindependent-journalismтАЭ has been dead for decades. Sadly, the Social-Media environment these days would have me posting a trove of articles that counter the Wa-PoтАЩs take on the protests. Believe me, theyтАЩre out thereтАжbut why bother because the amount of spin on тАЬbothтАЭ sides is frustrating.
How about the тАЬFact-Checkers?тАЭ
LetтАЩs start with the FCтАЩs at Reuters тАФ how many believe тАЬanythingтАЭ Reuters has to say about Pfizer тАЬvaccinesтАЭ after knowing the back story?
I think it is essential to have both internal and external regulation in order to be a functional human being in a society. Without both there would be chaos. The founding fathers certainly did not want unbridled liberty as they set down laws to govern people's behaviors. What they knew is that the balance of liberty and regulation had to be adjusted to the changing circumstances hence we have ways to adjust our laws/regulations and even our constitution. Excess liberty has its risks also. It is finding a functional balance that is necessary.
P.S. I know of no-one who has supported those that caused damage during the riots after George Floyd's death but shooting rioters would not have helped.
You can rebuild a store, you can't reverse a death and would you be willing to pull that trigger?
тАЬP.S. I know of no-one who has supported those that caused damage during the riots after George Floyd's death but shooting rioters would not have helped.тАЭ
I'm not sure that this should be taken as support for those doing damage or support for those who are too poor to afford bail but caught up in the protests. I would hope that this charity would make a distinction between the two groups when they bail someone out.
Please don't misunderstand me. I feel strongly that any violence is unacceptable and that those who can not regulate themselves should be punished appropriately. But just as the protesters are constrained with laws/regulations to prevent them from injuring or damaging others or property so should banks have reasonable regulations. Maybe I misunderstood your post because it seemed that you were against all regulations. I hope we can agree that reasonable regulations are necessary. Once we have a problem where someone has harmed others in some way we should incorporate clear regulation to prevent others from doing the same. I try to learn from my mistakes or snafus so that I don't repeat them. Shouldn't society as a whole do the same?
IтАЩm not against regulation. As I said before, itтАЩs like Porridge тАФ sometimes itтАЩs too hot тАФ other times itтАЩs too cold. The real problem is тАЬknee-jerk-regulationтАЭ being used as a political tool to get elected/re-elected. Can we agree on that?
How about taxes? Does anyone really think weтАЩre Under-Taxed?
HereтАЩs reality тАФ
Tax his land,
Tax his bed,
Tax the table,
At which he's fed.
Tax his tractor,
Tax his mule,
Teach him taxes
Are the rule.
Tax his work,
Tax his pay,
He works for peanuts anyway!
Tax his cow,
Tax his goat,
Tax his pants,
Tax his coat.
Tax his ties,
Tax his shirt,
Tax his work,
Tax his dirt.
Tax his tobacco,
Tax his drink,
Tax him if he
Tries to think.
Tax his cigars,
Tax his beers,
If he cries, Tax his tears.
Tax his car,
Tax his gas,
Find other ways To tax his ass.
Tax all he has
Then let him know
That you won't be done
Till he has no dough.
When he screams and hollers;
Then tax him some more,
Tax him till
He's good and sore.
Then tax his coffin,
Tax his grave,
Tax the sod in Which he's laid...
Put these words
Upon his tomb,
'Taxes drove me to my doom...'
When he's gone,
Do not relax,
Its time to apply
The inheritance tax.
Accounts Receivable Tax
Building Permit Tax
CDL license Tax
Cigarette Tax
Corporate Income Tax
Dog License Tax
Excise Taxes
Federal Income Tax
Federal Unemployment Tax (FUTA)
Fishing License Tax
Food License Tax
Fuel Permit Tax
Gasoline Tax (currently 44.75 cents per gallon)
Gross Receipts Tax
Hunting License Tax
Inheritance Tax
Inventory Tax
IRS Interest Charges IRS Penalties (tax on top of tax)
Liquor Tax
Luxury Taxes
Marriage License Tax
Medicare Tax
Personal Property Tax
Property Tax
Real Estate Tax
Service Charge Tax
Social Security Tax
Road Usage Tax
Recreational Vehicle Tax
Sales Tax
School Tax
State Income Tax
State Unemployment Tax (SUTA)
Telephone Federal Excise Tax
Telephone Federal Universal Service Fee Tax
Telephone Federal, State and Local Surcharge Taxes
So I think we agree. Reasonable regulations are necessary. Why you would assume that something is just a knee jerk response after a real problem arises. Wouldn't you want someone to look into the details, use good judgement and propose rules to prevent the problem from reoccurring. Obviously that is not a given. That's why we all need to look at the details and not make broad ideologically biased on assumptions. I would hope we can find people with integrity and competence to be in those positions. I would not assume that the people in the government were all the same so that we could ferret out those that are not honest or competent.
I'm not sure how overtaxation fits into this discussion about regulating banking but I do wholeheartedly agree with your premise that we are overtaxed and that the govt spends way too much wastefully. My county is spending $500,000 to study the need for broadband. WTF? How can it cost half a million dollars to study broadband in just one county and who is getting that money? Again the devil is in the details but my rep has heard from me questioning this as my way of doing oversight.
Amen тАФ MtnCharly тАФ weтАЩre pretty much on the same page. The knee-jerk reactions occur on a regular basis. Example of low-hanging fruit would be gun control regulations. Truth be told, there are hundreds of regulations and way too many of them are not enforced. So what do they do, create more regulations тАФ rinse and repeat. DonтАЩt get me wrong, IтАЩm not a pro-gun zealot by any stretch (quite the opposite) but creating new rather than enforcing existing is nonsensical to the core. There are many examples тАФ truth be told, IтАЩm betting weтАЩve both violated тАЬregulationsтАЭ many times throughout our lives doing lots of things without even knowing (LOLтАжneed more coffee and I can circle back, but hopefully you get the gist). Cheers тАФ ЁЯеГЁЯеГ
IтАЩm glad it was a typo! I read that several times and finally concluded that banking had finally reached the higher-math plane that was beyond my comprehension or I was simply too old to figure it out!
I noted that too, so I am glad to see th correction. The upside is that I was motivated to consult the Bloomberg/Matt Levine source cited as "the best explanation," and you were right. It actually made a lot of sense to me. This is a fast-moving story with major implications for all of us to understand the importance of regulations and active oversight of the financial system.
HSBC's ┬г1 will buy it SVC-UK's assets, which are considerable - but also SVC-UK's liabilities. That could prove to be a very expensive single pound sterling.
Thank you for this excellent summary. I wonder if Signature was really in as bad a plight as SVB
but I guess the administration decided it would be better to stave off a general run on banks by a decisive step with regard to Signature, which will also leave SignatureтАЩs assets intact and make it more realistic to sell Signature to another bank or to have an orderly liquidation whereby most depositors can be made whole without a tax on other banks and without taxpayer support.
Graf 6: Corrected to read that only about $8 billion were LESS than the insured amount, not GREATER than. Sorry. Something always slips through.
Yup, the original inequality did seem at odds with my expectations! -- No harm done. We all make mistakes, and I certainly make WAY more typos and mistakes that I have ever seen in your posts. -- Dear HCR, what is far more important is your brilliant explanation in layperson's terms about the FDIC, the SVC situation in particular, and, as always, the historical context behind our current events. Thanks!
Yes, an excellent explanation even for me an economic dolt. Our ex-banker neighbor issued a warning this weekend about this failure and tied it to the R threat concerning the debt ceiling. I note that those who oppose government regulation want a rescue and are first in line when there is a problem.
Reminds me of Florida and Ohio clambering for FEMA help with each major climate / catastrophe crisis. Otherwise, their governors sneer at the federal government "safety net". It turns out for everybody but them, right? Definition of hypocrisy.
Yes, it is. Hypocrisy is something people like Stubby DeSatan are good at.
Yes, funny how that works. First in line for their own bailout, in amounts over $250,000, and also first in line to rail against giving a helping hand to college students in need of debt relief. Student loan debt relief to the tune of $10,000 - $20,000 per student. And they see no hypocrisy in that because they are entitled.
Entitled hypocrites. Parasites of the highest order.
Also first in line to pull their deposits out and cause a bank failure
Exactly!
Noticing that Peter Thiel, that renegade Republican, got all his money out!
Most things the Republicans come with are simply unthinkable, not raising the debt ceiling being only one.
Amen to that, Michele! The screaming minority!
Yes, thank you Steve for kudos to our mind expanding mentor, HCR!
Now if we could get the facts out in the whole country in great big letters and explanations. Regulations make a Capitalist Democracy strong and great! Just like тАЬregulations( boundaries) make young people become strong and great.
Nothing becomes great without order.
I share HCR daily letters on Facebook. I am never sure how many take the time to read! I wish all of my friends would read and then that they would share! But, this dreamer knows that will never happen! I am sure I have a lot of stalkers! Read and run!
Dear Jean, because it mattersтАжthe USA is not a тАЬCapitalist DemocracyтАЭ but ratherтАжa constitutional federal republic. What does this mean? тАЬConstitutionalтАЭ refers to the fact that government in the United States is based on a Constitution which is the supreme law of the United States. The Founding Fathers wanted republicanism because its principles guaranteed liberty, with opposing, limited powers offsetting one another. Regulation is like тАЬPorridge,тАЭ often times itтАЩs too hot while other times itтАЩs too cold. Regulation combined with Mandates = Socialism/CommunismтАжwhich is something too many US citizens donтАЩt really understand. So be careful with your calls for more regulations тАФ youтАЩll be super-excited in the beginningтАжright up until youтАЩre disenfranchised during every facet of your day down the road.
You ended your post with тАЬNothing becomes great without order.тАЭ Did you feel that way during the BLM - ANTIFA riots that caused more than a Billion in damages across the country?
https://www.the-sun.com/news/1738968/dc-cops-clash-with-blm-and-antifa-protesters-outside-white-house/
On the whole the BLM marches were orderly. Still wondering how many Proud Boys and their accomplices were involved in тАЬincidents.тАЭ
And Antifa was a tiny, fractional element reacting against the violence imported by right-wing groups in their attempts to delegitimize BLM protests.
Dear Judith тАФ looking forward to seeing тАЬlinksтАЭ to your sources that validate your claim(s). Thanks!
https://apnews.com/article/virus-outbreak-race-and-ethnicity-suburbs-health-racial-injustice-7edf9027af1878283f3818d96c54f748
Excerpt: "Some of those facing charges undoubtedly share far-left and anti-government views. Far-right protesters also have been arrested and charged. Some defendants have driven to protests from out of state. Some have criminal records and were illegally carrying weapons. Others are accused of using the protests as an opportunity to steal or create havoc.
But many have had no previous run-ins with the law and no apparent ties to antifa, the umbrella term for leftist militant groups that Trump has said he wants to declare a terrorist organization."
{SNIP}
In thousands of pages of court documents, the only apparent mention of antifa is in a Boston case in which authorities said a FBI Gang Task Force member was investigating тАЬsuspected ANTIFA activity associated with the protestsтАЭ when a man fired at him and other officers. Authorities have not claimed that the man accused of firing the shots is a member of antifa."
https://wapo.st/427clGW (free if not a subscriber)
Excerpt: "Were people who identify as тАЬantifaтАЭ in fact involved in the 2020 racial justice protests? We looked at the data to find out.
{SNIP}
AntifaтАЩs presence was rare and concentrated in a few regions
Out of nearly 14,000 racial justice protests in 2020, antifa was identified in just 37, or 0.2 percent. That would not qualify as an infiltration of the Black Lives Matter movement.
Antifa activity in racial justice protests was limited mostly to the Pacific Northwest, California and D.C. More than one-third of antifaтАЩs protest appearances occurred in Oregon and Washington.
AntifaтАЩs presence contributed significantly to protest violence
When antifa did attend protests, the incidence of violence was extremely high compared to the level at protests it did not attend. Of the 37 racial justice protests where antifa appeared, 11 тАФ or 30 percent тАФ involved injuries to the crowd; when antifa did not appear, only 2 percent of the protests involved crowd injuries. With antifa present, 14 percent of protests involved injuries to police; without antifa, only 2 percent did. When antifa showed up, 27 percent of protests involved property damage; without antifa, only 4 percent did. And when antifa appeared, 30 percent of protests involved arrests, while only 7 percent of the antifa-free protests did.
In other words, antifa appearances at racial justice protests greatly increased the risk of violence.
But antifa shows up primarily when it wants to counter a right-wing groupтАЩs appearance. So, were right-wing groups the real source of the violence? ThatтАЩs not what our research found. We saw no difference between events in which antifa was facing off with a group such as the Proud Boys or the Three Percenters and when they were protesting unopposed."
So, I will correct myself about the sources of violence *when* Antifa was identified as present but note that this was the case in a tiny percentage of protests: "Out of nearly 14,000 racial justice protests in 2020, antifa was identified in just 37, or 0.2 percent." There was far more violence perpetrated by right-wing extremists as documented in court documents of arrests.
The reality is тАЬgroup-thinkтАЭ has destroyed individuals desire to seek the truth. One side says all problems are created by Democrats and the other says everything is the RepublicanтАЩs fault. Guess whatтАжitтАЩs BOTH! With regards to the Proud-Boys and ANTIFAтАЩs involvement in the BLM protests... best intelligence (if one is seeking the truth) says they both had a presence and wreaked plenty of havoc as a result. Bottom line, people need to STOP it already with my Democratic Representatives and Senators and/or my Republican Representatives / Senators are working in my best interest. ItтАЩs all about MONEY and POWER. Need proofтАж? Just look at the тАЬCongressionalтАЭ Stock-Performance results compared to the BEST and BRIGHTEST individual and/or investment firm performances. Can you say тАЬlegalized-insider-tradingтАЭ going on each and every single day? ItтАЩs appalling if you think about itтАжworst offenderтАж? Drum roll pleaseтАж.Nancy PelosiтАж! This is from the Huffington Post so those on the LEFT can forget about using the тАЬI donтАЩt trust your sourceтАЭ argument. ItтАЩs the flipping HUFFINGTON Post for HeavenтАЩs sakes.
https://www.huffpost.com/entry/pelosi-congress-insider-trading_n_63374676e4b0e376dbf6c714
HereтАЩs another report on тАЬInsider-TradingтАЭ in Congress. Once again, these Representatives and/or Senators are not focused on making America strong and vibrant тАФ most interested in POWER and getting RICH.
https://seekingalpha.com/article/4534829-trading-like-nancy-pelosi
Regarding Antifa presence in racial justice protests, see the free Washington Post link I posted above. From the WaPo article: "Out of nearly 14,000 racial justice protests in 2020, antifa was identified in just 37, or 0.2 percent. That would not qualify as an infiltration of the Black Lives Matter movement."
Dear Judith, thanks for providing a perfect example of whatтАЩs wrong with critical thinking in America these days. Not being snarky, just pointing out that itтАЩs extremely difficult to get to the truth because тАЬindependent-journalismтАЭ has been dead for decades. Sadly, the Social-Media environment these days would have me posting a trove of articles that counter the Wa-PoтАЩs take on the protests. Believe me, theyтАЩre out thereтАжbut why bother because the amount of spin on тАЬbothтАЭ sides is frustrating.
How about the тАЬFact-Checkers?тАЭ
LetтАЩs start with the FCтАЩs at Reuters тАФ how many believe тАЬanythingтАЭ Reuters has to say about Pfizer тАЬvaccinesтАЭ after knowing the back story?
https://www.pfizer.com/news/press-release/press-release-detail/james_c_smith_elected_to_pfizer_s_board_of_directors
Huh?
I think it is essential to have both internal and external regulation in order to be a functional human being in a society. Without both there would be chaos. The founding fathers certainly did not want unbridled liberty as they set down laws to govern people's behaviors. What they knew is that the balance of liberty and regulation had to be adjusted to the changing circumstances hence we have ways to adjust our laws/regulations and even our constitution. Excess liberty has its risks also. It is finding a functional balance that is necessary.
P.S. I know of no-one who has supported those that caused damage during the riots after George Floyd's death but shooting rioters would not have helped.
You can rebuild a store, you can't reverse a death and would you be willing to pull that trigger?
тАЬP.S. I know of no-one who has supported those that caused damage during the riots after George Floyd's death but shooting rioters would not have helped.тАЭ
HmmmmтАжno-one? HereтАЩs one for you тАФ https://twitter.com/KamalaHarris/status/1267555018128965643
I'm not sure that this should be taken as support for those doing damage or support for those who are too poor to afford bail but caught up in the protests. I would hope that this charity would make a distinction between the two groups when they bail someone out.
Please don't misunderstand me. I feel strongly that any violence is unacceptable and that those who can not regulate themselves should be punished appropriately. But just as the protesters are constrained with laws/regulations to prevent them from injuring or damaging others or property so should banks have reasonable regulations. Maybe I misunderstood your post because it seemed that you were against all regulations. I hope we can agree that reasonable regulations are necessary. Once we have a problem where someone has harmed others in some way we should incorporate clear regulation to prevent others from doing the same. I try to learn from my mistakes or snafus so that I don't repeat them. Shouldn't society as a whole do the same?
IтАЩm not against regulation. As I said before, itтАЩs like Porridge тАФ sometimes itтАЩs too hot тАФ other times itтАЩs too cold. The real problem is тАЬknee-jerk-regulationтАЭ being used as a political tool to get elected/re-elected. Can we agree on that?
How about taxes? Does anyone really think weтАЩre Under-Taxed?
HereтАЩs reality тАФ
Tax his land,
Tax his bed,
Tax the table,
At which he's fed.
Tax his tractor,
Tax his mule,
Teach him taxes
Are the rule.
Tax his work,
Tax his pay,
He works for peanuts anyway!
Tax his cow,
Tax his goat,
Tax his pants,
Tax his coat.
Tax his ties,
Tax his shirt,
Tax his work,
Tax his dirt.
Tax his tobacco,
Tax his drink,
Tax him if he
Tries to think.
Tax his cigars,
Tax his beers,
If he cries, Tax his tears.
Tax his car,
Tax his gas,
Find other ways To tax his ass.
Tax all he has
Then let him know
That you won't be done
Till he has no dough.
When he screams and hollers;
Then tax him some more,
Tax him till
He's good and sore.
Then tax his coffin,
Tax his grave,
Tax the sod in Which he's laid...
Put these words
Upon his tomb,
'Taxes drove me to my doom...'
When he's gone,
Do not relax,
Its time to apply
The inheritance tax.
Accounts Receivable Tax
Building Permit Tax
CDL license Tax
Cigarette Tax
Corporate Income Tax
Dog License Tax
Excise Taxes
Federal Income Tax
Federal Unemployment Tax (FUTA)
Fishing License Tax
Food License Tax
Fuel Permit Tax
Gasoline Tax (currently 44.75 cents per gallon)
Gross Receipts Tax
Hunting License Tax
Inheritance Tax
Inventory Tax
IRS Interest Charges IRS Penalties (tax on top of tax)
Liquor Tax
Luxury Taxes
Marriage License Tax
Medicare Tax
Personal Property Tax
Property Tax
Real Estate Tax
Service Charge Tax
Social Security Tax
Road Usage Tax
Recreational Vehicle Tax
Sales Tax
School Tax
State Income Tax
State Unemployment Tax (SUTA)
Telephone Federal Excise Tax
Telephone Federal Universal Service Fee Tax
Telephone Federal, State and Local Surcharge Taxes
Telephone Minimum Usage Surcharge Tax
Telephone Recurring and Nonrecurring Charges Tax
Telephone State and Local Tax
Telephone Usage Charge Tax
Utility Taxes
Vehicle License Registration Tax
Vehicle Sales Tax
Watercraft Registration Tax
Well Permit Tax
Workers Compensation Tax
So I think we agree. Reasonable regulations are necessary. Why you would assume that something is just a knee jerk response after a real problem arises. Wouldn't you want someone to look into the details, use good judgement and propose rules to prevent the problem from reoccurring. Obviously that is not a given. That's why we all need to look at the details and not make broad ideologically biased on assumptions. I would hope we can find people with integrity and competence to be in those positions. I would not assume that the people in the government were all the same so that we could ferret out those that are not honest or competent.
I'm not sure how overtaxation fits into this discussion about regulating banking but I do wholeheartedly agree with your premise that we are overtaxed and that the govt spends way too much wastefully. My county is spending $500,000 to study the need for broadband. WTF? How can it cost half a million dollars to study broadband in just one county and who is getting that money? Again the devil is in the details but my rep has heard from me questioning this as my way of doing oversight.
Amen тАФ MtnCharly тАФ weтАЩre pretty much on the same page. The knee-jerk reactions occur on a regular basis. Example of low-hanging fruit would be gun control regulations. Truth be told, there are hundreds of regulations and way too many of them are not enforced. So what do they do, create more regulations тАФ rinse and repeat. DonтАЩt get me wrong, IтАЩm not a pro-gun zealot by any stretch (quite the opposite) but creating new rather than enforcing existing is nonsensical to the core. There are many examples тАФ truth be told, IтАЩm betting weтАЩve both violated тАЬregulationsтАЭ many times throughout our lives doing lots of things without even knowing (LOLтАжneed more coffee and I can circle back, but hopefully you get the gist). Cheers тАФ ЁЯеГЁЯеГ
Wow I would love to know what are the hundreds of gun regulations that are not enforced?
YOU CAN NOT BE SERIOUS.
RobertЁЯЩПЁЯШ│
IтАЩm glad it was a typo! I read that several times and finally concluded that banking had finally reached the higher-math plane that was beyond my comprehension or I was simply too old to figure it out!
Lol Betsy... I was scratching my head too !
I noted that too, so I am glad to see th correction. The upside is that I was motivated to consult the Bloomberg/Matt Levine source cited as "the best explanation," and you were right. It actually made a lot of sense to me. This is a fast-moving story with major implications for all of us to understand the importance of regulations and active oversight of the financial system.
HSBC-UK has purchased SVB'S UK arm for One (1) English pound -- NOT a typo.
They may have overpayed.
Wow!!
HSBC's ┬г1 will buy it SVC-UK's assets, which are considerable - but also SVC-UK's liabilities. That could prove to be a very expensive single pound sterling.
Thank you for the confirmation; I asssume there is another SVC "arm" in India to be accounted for promptly.
No worries--you caught it.
Thank you for this excellent summary. I wonder if Signature was really in as bad a plight as SVB
but I guess the administration decided it would be better to stave off a general run on banks by a decisive step with regard to Signature, which will also leave SignatureтАЩs assets intact and make it more realistic to sell Signature to another bank or to have an orderly liquidation whereby most depositors can be made whole without a tax on other banks and without taxpayer support.
Crypto needs to be declared a 20-year felony.
I can't understand why anyone would invest in this. It is just a scam.
Good catch.
I know that feeling quite well!
Libor = London interbank offered rate? Just asking. It is a term used in international economics.
Typos and errors hardly ever slip through for you, Heather. Please do not be hard on yourself.
Thank you for that. Questioning the rapidity of decline of my 70 year old reasoning abilities for a hot moment there!
Not always. By any means! ЁЯШК
An advantage of reading later is that it's the corrected version. I loved this!