Damn.
Ken Griffin, founder of Citadel hedge fund, says the US central bank’s rescue package for Silicon Valley Bank shows that American capitalism is “breaking down before our eyes”.
https://12ft.io/proxy?q=https://www.ft.com/content/aeb9ef58-6fc1-45af-88b2-b46a2a532b3f
He really is a bit of a prick.
Not that I disagree with everything he’s saying but it’s easy to sit in his billionaire ivory tower and laugh about the little guy getting screwed.
That's hilarious, because one of the ten points of a socialist economy is a central bank according to Marx.
In a capitalist system (or a free market) these banks would be aloud to tank for their poor choices.
And the message this sends to banks, be as risky as you want, the State has socialized the risk.
What I got from that is Ackman is clueless about what CBDC’s are going to do to his businesses.
