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that is incredibly kind of them

Can’t spell bankrupt without bank. All banks are bankrupt without government subsidizes and special accounting treatment. If a bank fails to toe the line they are left for dead (or worse murdered eg Signature)

Let’s compare economic damages of every exchange fraud, rug pull, hack, etc up against the losses which would have been realized by first republic without a bail out and put this into perspective.

Instead of solidifying the system they tape over it with paper tricks and capital controls.

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Discussion

zhenya 2y ago

Insurance companies are in just as bad shape as banks from an equity standpoint, however their “bank run” is a function of actuarial risk. They are therefor insulated from the unexpected.

Actuarial risks can’t be called at will, there needs to be an event. Maybe that’s the model banks will move to in the future “you don’t get your money unless it’s for something you need or falls into XYZ category”