Mary Nelson · @marynelson8
411 followers · 1646 posts · Server mstdn.socialCongress must act swiftly on the debt limit. Default should never be an option.
"These are some of the people who'll be impacted if the U.S. defaults on its debts"
#DebtCeiling #default #economy #economics #BondHolders #Veterans #Retirees #SocialSecurity #Medicare #TaxRefunds #GovernmentEmployees
#governmentemployees #taxrefunds #medicare #socialsecurity #retirees #veterans #bondholders #economics #Economy #default #debtceiling
Linda · @helena_gilliss
15 followers · 491 posts · Server mastodon.nl
https://www.bankingsupervision.europa.eu/press/pr/date/2023/html/ssm.pr230320~9f0ae34dc5.en.html #ECB underlining that within the #EU, #shareholders are the first to bear failing #banks losses, then #bondholders. They disagree that the Swiss central bank chose the other way around.
#bondholders #banks #shareholders #eu #ecb
Linda · @helena_gilliss
15 followers · 488 posts · Server mastodon.nl
The big difference between this #banking crisis and the previous one is new legislation on bank resolution, at least in Europe. Savers are protected, but #shareholders and #bondholders are not. Whomever funded Credit Suisse, other than by entrusting savings to the bank, took a risk, which now materialized. I hope we’ll thus see different dynamics this time. #inequality #ownership https://www.credit-suisse.com/about-us/en/investor-relations/debt-investors/bonds-securities/capital-instruments.html
#ownership #inequality #bondholders #shareholders #banking
mohansus · @mohansus
182 followers · 91 posts · Server newsie.socialThe #debtceiling is "here and now" and cannot be left unaddressed for long. As #biden and the #republicans, with #kevinmccarthy in the lead, begin staking out their positions, an explainer on how the looming showdown over the #debtlimit is "worrying" #wallstreet.
In turn, the #bankers and the #bondholders want #congress to authorize the #treasury to "prioritize" payments to #creditors, a move fraught with risk and uncertainty and a political non-starter.
#debtceiling #biden #republicans #KevinMcCarthy #debtlimit #wallstreet #bankers #bondholders #congress #treasury #creditors