Great piece by @ddayen calling attention to the lobbying by firms that extract fees from socially useless products to game the FDIC's deposit insurance limit. They want to ensure that limit stays intact.

At stake is more than their rents. Removing deposit limit dissolves the pretense that banks are private firms bearing their own risk, and invites more fundamental banking reform. https://prospect.org/power/2023-04-25-intrafi-deposit-insurance-caps-lobbying/ ht #JoeWeisenthal 1/

#JoeWeisenthal posts on a level others can only dream about. He posts at a level beyond which was previously thought impossible.

https://twitter.com/TheStalwart/status/1617244524950228992

#Bloomberg #DebtCeiling #economics #finance #mintTheCoin #money #MTFC

#JoeWeisenthal posts on a level others can only dream about. He posts at a level beyond which was previously thought impossible.

https://twitter.com/TheStalwart/status/1617244524950228992

#Bloomberg #DebtCeiling #economics #finance #mintTheCoin #money #MTFC