Treasury Chief Janet Yellen: Biden Regime Picking, Choosing Which Banks to Save

[Manuel Tavares]

Treasury Chief Janet Yellen: Biden Regime Picking, Choosing Which Banks to Save
Posted on 03/22/2023 by EraOfLight — https://eraoflight.com/2023/03/22/treasury-chief-janet-yellen-biden...

Posted here by http://violetflame.biz.ly/ +@ https://gab.com/active_me
Reminder discernment is recommended.

The Biden regime has gotten into the business of literally picking winners and losers regarding the burgeoning banking and financial industry crisis, leaving tens of millions of Americans wondering if their bank is going to be among those ‘chosen’ to be saved.

“Treasury Secretary Janet Yellen admitted to the U.S. Senate Thursday that the government is choosing winners and losers in the rigged bank bailout lottery. And wouldn’t you know it, the losers sure look like the smaller community banks the big banks (and Democrats) would love to see eliminated,” John Nolte writes at Breitbart News.

The essential admission came after Yellen was asked a simple question last week from Sen. James Lankford (R-Okla.) during a Senate hearing.

“Will the deposits in every community bank in Oklahoma, regardless of their size, be fully insured now? Are they fully covered, every bank, every community bank in Oklahoma, regardless of the size of the deposit? Will they get the same treatment that SVBP [Silicon Valley Bank] just got or Signature Bank just got?” he queried.

She then made this horrific admission: “A bank only gets that treatment if a majority of the FDIC board, a super majority of the Fed board and I, in consultation with the president, determine that the failure to protect uninsured depositors, would create systemic risk and significant economic and financial consequences.”

Nolte interpreted Yellen’s reply:

In other words, if the FDIC likes your bank, the depositors are insured. If not, the depositors are not insured over $250,000, which means what?....+
https://eraoflight.com/2023/03/22/treasury-chief-janet-yellen-biden...