Doing Diversity, Equity, and Inclusion on the Highway to Hell.
Vern Bender
MASSIVE BANK FAILURES ARE AROUND THE CORNER.
ALL BANKING ACTIVITIES WILL BE CONSOLIDATED INTO A DOZEN OR SO “TOO BIG TO FAIL” NATIONAL GOVERNMENT-CONTROLLED BANKS.
AFTER THAT, AMERICA WILL BECOME A COMMUNIST
NATION.
The Federal Reserve System is not “owned” by anyone. The Federal Reserve was created in 1913 by the Federal Reserve Act to serve as the nation’s central bank. The Board of Governors in Washington, D.C., is an agency of the federal government and reports to and is directly accountable to Congress.
Governments own and operate public banks, while credit unions are private entities collectively owned by their members. In the United States, federal law forbids credit unions from making commercial loans that exceed 12.25% of their total assets.
Government ownership of banks is still standard worldwide, despite the large number of privatizations over the past four decades as governments reduced their economic role. On average, state-owned banks hold 21 percent of the banking system’s assets worldwide.
The OCC charters regulate and supervise all national banks, federal savings associations, and federal branches and agencies of foreign banks. The OCC is an independent bureau of the U.S. Department of the Treasury.
As of 2022, the World Bank is run by a president and 25 executive directors, as well as 29 various vice presidents. IBRD and IDA have 189 and 174 member countries, respectively. The U.S., Japan, China, Germany, and the U.K. have the most voting power.
The Board of Governors oversees Reserve Banks. The Board of Governors is an independent government agency, and the Reserve Banks are private corporations accountable to the Board.
THE TOP TEN BANKS:
1. JPMorgan Chase is the top largest bank in the US, with a balance sheet total of $3.31 trillion.
Since the 1970s, over ninety U.S. banks with US$1 billion or more in assets have failed. Two banks in the US collapsed In March 2023. Silicon Valley Bank (SVB) and Signature Bank – the biggest bank failures since 2008. Many more bank failures are on the horizon.
Currently, on the bubble, Credit Suisse has struck a deal with UBS to buy Credit Suisse for $2 billion. That is a 75% discount from the Credit Suisse FMV at the close of business 48 hours ago. The bank’s shareholders took a $6 Billion haircut over the weekend. Diversity, equity, and inclusion cost them $6 Billion. How do you like the play now, Mrs. Lincoln?
Include: A group of prominent US banks has injected $ 30 billion into a smaller regional bank, First Republic, which has been on the brink of failure. Troubled banking giant Credit Suisse says it will borrow $ 54 billion from the Swiss central bank to shore up its finances. Banks obsessed over the WOKE AGENDA will drop like flies for the rest of 2023. Asset management disappeared when wokeness showed up in much of the banking business. The political point of view takes precedence over responsibilities within our failing financial institution. Risk management discriminates against black and brown people. The SVB bank operates on an awoke agenda. Diversity, equity, and inclusion are what we are aiming to achieve. The SVB donated $70 million to Black Lives Matter. SVB was the leading bank in the country, making green new deal loans. Half of the companies in the U.S. devoted to climate change and biotech banked with the now-failed Silicon Valley Bank. Diversity, equity, and inclusion loans are sub-prime, at best.
WHO WILL THE NEXT FOOL BE? Woke is as woke does.
Signature Bank followed The SVB lending formula. Both banks were all-in on the woke agenda until woke bankrupted them. $200 Billion has been borrowed at the Fed’s Discount Window in the last five days. The line at the discount window will be a half-mile long during the next few weeks. Doing Diversity, Equity, and Inclusion lending puts you on the Highway to Hell. You can’t give the American people $6 trillion of newly printed money and be surprised when inflation shows up. Interest rates spike when inflation comes around. Loans made to Diversity, Equity, and Inclusion business is a loser’s game. They are gambling with your money.
Tweetie-Bird Jellin said she would choose which larger banks would be bailed out. She intends to let the small-town banks go away. Only the growing list of “too big to fail” banks is necessary. Trump voters deserve to fail, according to Tweetie-Bird.
According to Last week, the borrowings from the Fed’s liquidity and credit facilities had risen 2,000 percent from the prior week. Last week’s borrowing exceeded the 2008 amount when Leahman Brothers went away.
Fed Chairman Jerry Pow-Wow started raising interest rates too late to prevent runaway inflation. Now, he will raise interest rates until the cows come home.
Tweetie- Bird Jellen will become the bail-out Queen. She has ordered hundreds of additional money printing presses.
