Forced Ranting

 In other words, as Bloomberg first reported when it broke this story, anywhere up to the full $53 trillion (we don’t know for sure how much so we assume the worst case) is now fully and effectively backstopped explicitly by the bank’s $1 trillion (as of September 30) deposits. Pardon’s we meant the people’s deposits: the same deposits which caused the bank’s website to be inoperative for several days in a row after it was rumored that there was an electronic run on the bank.


  1. forcedranting posted this