Originally published at: Ralph Nader: Reckless Capitalist Banks Rescued by Government Socialism – Again! – Progressive Dreamers
Published originally at Common Dreams on March 21, 2023 under Creative Commons CC BY-NC-ND 3.0 license Once again, government socialism—ultimately backed by taxpayers—is saving reckless midsized banks and their depositors. Silicon Valley Bank (S.V.B) and Signature Bank in New York greedily mismanaged their risk levels and had to be closed down. The Federal Deposit Insurance…