Joint statement by the Department of the Treasury, Federal Reserve, and FDIC
We deserve to see more useful top comments on this matter.<p>The top ones in this and the main announcement thread [1] are just ad hominem complaining against some ostensibly &quot;salty&quot; or &quot;cognitively dissonant&quot; majority.<p>Let&#x27;s talk about skin in the game and bailouts. Explain to a peasant why he should have to share the risk you took with your money. Explain to him this game being played where he gains nothing when you win but loses when you lose. And please inform him the recourse he has should he disagree with sharing your loss.<p>No moral appeals about making payroll, no ad hominems about non-positivism or cognitive dissonance, no complaints about &quot;saltiness&quot;.<p>I speak for many when I say I&#x27;d like to hear a proper explanation on this matter, in terms of skin in the game.<p>EDIT: The above comment takes the following to be bullshit (from the article):<p>&quot;Yellen approved actions enabling the FDIC to complete its resolution...in a manner that fully protects all depositors...<p>No losses...will be borne by the taxpayer.&quot;<p>If these statements are true, can someone explain how it&#x27;s possible that despositors are fully protected, far beyond what FDIC insures, without the taxpayer bearing any of the burden?<p>---<p>[1] <a href="https:&#x2F;&#x2F;news.ycombinator.com&#x2F;item?id=35096877" rel="nofollow">https:&#x2F;&#x2F;news.ycombinator.com&#x2F;item?id=35096877</a>