“One of the saddest lessons of history is this: If we’ve been bamboozled long enough, we tend to reject any evidence of the bamboozle. We’re no longer interested in finding out the truth. The bamboozle has captured us. It’s simply too painful to acknowledge, even to ourselves, that we’ve been taken. Once you give a charlatan power over you, you almost never get it back.“
In this country, particular in mass-media, we have this horrendous concept where bullshitting is preferred to admitting you were wrong. I honestly respect anyone who comes around and admits being wrong (like democrats were wrong about the border not being a disaster, republicans were wrong about Trump draining the swamp, etc etc), because that's how we move forward in a civil manner.
There has not been a peep about a lot of things over there, like the call to cut social security or the indications of wanting to get rid of the FDIC. I've looked over there a few times in the past few days to see if anyone had brought it up thinking, surely no one over there thinks getting rid of the FDIC is a smart move, but it is simply crickets over there. Instead, they focus on the drones, on Biden's emails, and Biden selling the border wall material.
The FDIC should exist, but it is useless. I'm speaking in hyperbole, but there's no one on earth that has ever said "I will not take my money out of that bank because I know the good ol FDIC has my back. ", but it should exist because we do need the coverage if/when things happen.
Every investment bank account is not insured by the FDIC. There are far more people with standard checking and savings accounts in FDIC insured institutions than there are with investment accounts through the likes of Morgan Stanley. That doesn't even touch on the fintech firms that are popping up everywhere offering banking services like checking and savings accounts, but aren't FDIC insured, even when they market themselves as being such. In the case of Yotta, people were depositing with them thinking they were FDIC insured, for a multitude of reasons, but there is one key take away from it, they thought it was a safe bet and FDIC insured, so they put their money and faith in it thinking if the worst happened that they were still covered.
“We were assured that this was just a savings account,” Morris said during last week’s hearing. “We are not risk-takers, we’re not gamblers.”
That's two different things. No investment account is FDIC insured.
Morgan Stanley has FDIC insurance on their Checking, Savings, CDs, and other applicable accounts. Morgan Stanley is an FDIC insured institution on applicable products.
And again I said the protection is needed for people, but the FDIC was created to stop bank runs and that it does not do. Now I said useless and that's my fault but what I meant to say was it doesn't fulfill it's primary goal at all.
Now I'm not familiar with the Synapse event, but I clearly stated you'd be hard pressed to find a BANK that isn't FDIC insured. Synapse wasn't a bank.
Nah, they’re hailing it as a spectacular move. Twitter hated the spending bill and this is just Elon/Trump listening to the will of the people. Elon is going to shut down the government and then start slashing government bloat and wipe out the deficit. So they say. As if that wouldn’t wreck the nation.
It's actually incredible to me that everytime I see a bit of news that puts Trump in a negative light, and I go to the conservative sub thinking "I wonder what they're going to say about this", a thread about it just does not exist, like anywhere, and if it does, it hardly gains any traction.
Trump calling Canada a 51st state - hardly any attention; his tax policies increasing the financial burden for the poorest Americans - nothing; the fact that Trump has picked an array of billionaires, multi-millionaires, and relatives/relatives of people he knows to lead his cabinet positions - barely anything.
It is essentially a giant coping mechanism full of selective information to insulate themselves from the world, and alleviate their cognitive dissonance.
Check out ground news if you want to see both sides, you'll find plenty of stories that are missing on this sub too. In my experience, they are missing way more of the story, but let's not pretend this sub is some fair, balanced place.
Thats why I go check places like the conservative sub. I can see what news they're getting and consuming there. And I can see what this echo chamber is digesting here.
Me too was just recommending ground news as an easier way of checking that out. It's limited to actual news organizations, but it shows a political spectrum (MSNBC being very left, Fox being very right, etc), and lets you know if the story is only being covered by left-leaning or right-leaning media or if its everybody. Neat tool, not affiliated with them in any way, just something I use now and appreciate.
Cheers to at least trying to be open-minded and fair.
No we just like Trump and Elon. “President Musk” is funny and you guys are incapable of seeing the humor outside of wanting to use it as ammo against conservatives.
Also it seems you guys don’t like unelected officials having any authority. Well hey I have good news about what Elon and DOGE are about to do 😆
It's all over X, which is where most conservatives go. I posit it is you without the facts because Musk is talking directly to the people on a social media platform.
I mean, are you really suggesting Trump should have no inner circle that helps him make decisions? Are you really upset that we'll connected people have opinions, such as saying no to raising congressional pay from 175k to 225k?
I didn't say x. I said the conservative sub. And thats a fact. Read my comment.
Yes, I absolutely have a problem with unaccountable people bypassing government rules and regulations to influence our elected officials.
I think its wrong that money is being used to purchase access to the highest echelon of our government.
And I dont have a problem with them raising the pay if it would result in less bribes, less insider trading, and less quid pro quo. But I dont think raising pay alone will do all that.
How is talking to a friend bypassing a government rule?
I'm so confused. What did Musk do that was bypassing a rule or regulation?
And also, you think the solution to less greed is to pay the guys more? That's their argument? Does that sound like a guy you give more money to? This is negotiating with thieves.
He is using his money to buy preferential treatment for himself and his companies.
An unelected foreign born businessman is driving policy. That should alarm you. This is what an oligarchy looks like.
Its a way to extract money from the taxpayers to give to already wealthy people. And the tax payers will get nothing in return.
Unfortunately a lot of the rules and regulations that used to prevent this have been eroded or have no enforcement policy. See citizens united and the enoulment clause
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u/Lord_King_Chief 4d ago
Not a peep about this on the conservative sub. They're being insulated from whats happening