Good day all. Once again, Dementia Joe Biden is flexing his inner tyrant. With the collapse of the Silicon Valley Bank and the Signature Bank, Mush for Brains Biden wants to go after the executives who were running the banks.
There are many reasons a bank can fail. In the case of SVB, it’s coming out that it was generally mismanagement, incompetence and paying more attention to Diversity and Wokeness instead of keeping an eye on the books. Now President* Jellobrains has decided that the Federal Government should go after executives. Here are the details from Newsmax:
President Joe Biden on Friday called on Congress to give regulators greater power over the banking sector, including leveraging higher fines, clawing back funds and barring officials from failed banks, according to a statement released by the White House.
“No one is above the law,” Biden said in the statement, “and strengthening accountability is an important deterrent to prevent mismanagement in the future.”
No one is above the law? Does that include you, your boy Hoovernose and the rest of the criminal enterprise known as the Biden Family?
The current law “limits the administration’s authority to hold executives responsible,” he said.
There is a reason for that you senile totalitarian Fascist pig. It’s not a crime to be a moron and do stupid things. If it were, you would have been locked up decades ago.
Specifically, Biden is asking Congress to give the Federal Depository Insurance Corp. greater authority to claw back compensation, “including gains from stock sales – from executives at failed banks like Silicon Valley Bank and Signature Bank,” the White House said in a second statement.
Yeah, good luck with that. There is a reason for incorporating you meathead, and it’s to protect the private assets of people running a corporation. You might want to consider just how many companies incorporate in your state of Delaware.
The president is also asking Congress to give the FDIC more authority to ban bank executives from the industry when their banks go into receivership, and fine bank managers whose banks fail.
I doubt Congress will go along with that for a number of reasons. A big one, something that Bumbles Dementia Biden doesn’t care about, is Due Process. You want to take away people’s assets, fine them and then ban them from ever managing a bank again, all without a trial? Not happening. Even if Congress did do this, it would be overturned in the courts.
Besides, I really don’t see any of the former board of directors or the C level managers ever being hired for similar positions in the future. What happened was a classic case if mismanagement and incompetence, and no one is going to want to risk their businesses, be they financial or any other industry on proven failures.
This is just another indication of Dementia Joe’s basic tyrannical nature. Normally, I would say that someone dreaming up this load of manure would know that there would be serious constitutional issues with the proposals. However, this is the Worst President* In American History, who has been wrong on every major issue since the beginning of time. It won’t go anywhere. Now Joe Biden, he can go to a nice retirement home somewhere with a secured dementia ward and spend his days watching Murder She Wrote and eating pudding.
Thatisall
(3 votes, average: 5.00 out of 5)
Loading...
~The Angry Webmaster~
