Spencer Cox

@SpencerJCox ↗

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Last Checked March 23, 2023

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Sun Mar 12 14:44:08 +0000 2023

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Spencer Cox @SpencerJCox

But time is a problem here. If you can’t meet payroll on Thursday, then companies might have to close their doors or face mass layoffs. The ripple effect of 100’s of thousands losing their jobs over timing is terrible for our citizens. And that would be true in any industry! — PolitiTweet.org

Posted March 12, 2023

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Spencer Cox @SpencerJCox

Putting your money in a checking/savings account in one of the largest banks in America with a 40-year history is not tech companies playing fast and loose. Furthermore, there are tremendous assets held by the bank—maybe enough to cover 100% of depositors—it will just take time. — PolitiTweet.org

Posted March 12, 2023

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Spencer Cox @SpencerJCox

We also need to think through the ripple effects that not backstopping depositors may have. More bank runs would be inevitable. Not to mention the impossibility of businesses never putting more than $250k in any one bank. Again, this is NOT about bailing out a bank. — PolitiTweet.org

Posted March 12, 2023