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Podcast: Townhall Review | Commentaries
Episode: Ed Morrissey: Warren Wants to Bail Out the Wealthy
Description: After the collapse of Silicon Valley Bank and its well-connected venture capital interests, pressure mounted for the federal government to make everyone whole regardless of FDIC insurance caps. Elizabeth Warren followed up by proposing to lift deposit insurance caps from 250 thousand dollars to as high as ten million dollars. Not only would that amount to a bailout of the wealthy, it would create a number of unintended consequences. FDIC insurance would skyrocket, as would capital controls, in ways that would likely force most community and regional banks out of business. The consolidation that followed would create a...