@AskWorkspace@Google What the hell? Customers for 15 years and we can't get in touch with you guys or get a response to a mistakenly suspended GBP page. What is a good phone number and/or email address to use? The appeal function sucks, too slow. DM me some legit contact info.
@sam_gzstrength Don't disagree, but curious why 315? Seems like age/weight would factor. My 1R max is about 320. Weight is 180, 46y/o. Doing 5x5 at 305 right now and that seems to handle strength and hypertrophy well.
This was not a bailout. During the GFC, the gov’t injected taxpayer money in the form of preferred stock into banks. Bondholders were protected and shareholders were diluted to varying degrees. Taxpayer money was put at great risk. Many people who screwed up suffered minimal to no consequences. Those were bailouts.
Here, shareholders and bond holders have been wiped out. The @FDICgov insurance fund capitalized by premiums paid by banks will absorb any losses. The fund will recoup any losses by assessing more premiums on the banks.
Had the @FDICgov@USTreasury and @federalreserve not intervened today, we would have had a 1930s bank run continuing first thing Monday causing enormous economic damage and hardship to millions.
More banks will likely fail despite the intervention, but we now have a clear roadmap for how the gov’t will manage them.
Bank boards and managements have received a massive wake up call. Being a director or CEO of a bank that fails is no fun: years of litigation, regulatory investigations, personal liability, potential civil and criminal charges, and enormous reputational damage.
Our gov’t did the right thing. This was not a bailout in any form. The people who screwed up will bear the consequences. The investors who didn’t adequately oversee their banks will be zeroed out and the bondholders will suffer a similar fate.
Importantly, our gov’t has sent a message that depositors can trust the banking system. Without this confidence, we are left with three or possibly four too-big-to-fail banks where the taxpayer is explicitly on the hook, and our national system of community and regional banks is toast.
Our government did the right thing for the country. We are very fortunate it did so.
@FedEx Overnight package was supposed to arrive last Wed. It's been a week, stuck in IN...can't an agent on the phone and tracking has no new eta. WTF?