Richard Spencer

@RichardBSpencer ↗

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Last Checked April 3, 2023

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Mon Mar 13 19:19:09 +0000 2023

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Richard Spencer @RichardBSpencer

@LionBlogosphere In many ways, the banking system is already nationalized, or whatever word you want to use. But what drives people crazy, justifiably, is socializing loses, privatizing profits, and backstopping wild bets. Biden is intentionally doing something different. — PolitiTweet.org

Posted March 13, 2023

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Richard Spencer @RichardBSpencer

@LionBlogosphere This wasn’t a “bailout,” in the way that term was used in 2008. The government is insuring deposits, while letting the investors and management take a bath. The federal government set a precedent for backstopping ALL deposits, beyond the FDIC’s existing commitments. — PolitiTweet.org

Posted March 13, 2023

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Richard Spencer @RichardBSpencer

@LionBlogosphere I agree. And I think this is where Biden's arrow is pointing. Wishful thinking perhaps? But he is aware that 2008 can't be repeated. The government is not going to throw billions at banks in hopes of propping them up. — PolitiTweet.org

Posted March 13, 2023