Bank of America, Citigroup, JPMorgan Chase, Wells Fargo, Goldman Sachs, Morgan Stanley, BNY Mellon, PNC Bank, State Street, Truist and U.S. Bank to Make Uninsured Deposits Totaling $30 Billion Into First Republic Bank.
https://www.businesswire.com/news/home/20230316005695/en/Bank-of-America-Citigroup-JPMorgan-Chase-Wells-Fargo-Goldman-Sachs-Morgan-Stanley-BNY-Mellon-PNC-Bank-State-Street-Truist-and-U.S.-Bank-to-Make-Uninsured-Deposits-Totaling-30-Billion-Into-First-Republic-Bank
As always it’s the vocal minority screaming for free things that get the attention. The boring reality is that parents were determined not to saddle their children with debt from the get go of adulthood. Every generation wants their kids to live better than they did.
We paid the way for our two children as well. 529 accounts from birth on. the key is to jump on it early. One brother and his wife paid for their two kids as well. I pretty much don’t know anyone who didn’t pay the way for their millennials to graduate debt free. We all sacrificed a lot to do it but it was worth it.
Count me in as one of those boomers who's kid walked out of a 4 year college not owing anyone a darn thing. Started saving as soon as he was born. No brainier.
If you want to learn how to survive hyperinflation, talk to a boomer. We lived through 10 years of hyperinflation followed by 10 years of extremely high inflation. Any one of us can help you to figure out the difference between luxuries and necessities.
Sorry, boomers are a 20+ year span. Boomers actually have GenX, millennial and yes, even boomer, children. It’s difficult to comprehend the size and diversity of the boomers. We name a new generation every 5 years now. Boomers are more correctly understood as 4 generations. The Vietnam, hippie, civil rights, and high tech generations are far more diverse than the last 20 years which are all really the more materialistic me generations.
The vast majority of boomers that I know were saving for their kids’ college before we could even afford cable TV.
We all wanted to keep them from the crushing student loan debt which we had.
@ocq, boomer's kids are gen x. Fitting that you forgot the forgotten generation.
@kgp I don’t know many boomers who paid for their millennial kids college. Pretty much everyone in my generation has crushing student debt, even after doing everything “right”
@dlk no not Fox News..
But it would be interesting and that's a genuine question to see how far is the US Govt. willing to go ?.Will it save every Failing bank ? How many more Banks are in trouble ?. We don't have the exact number but multiple banks could be short on cash . Last week they borrowed about 300 billion dollars. The US Federal reserve gave out this money . This is America's central Bank and US Federal reserve, and who borrowed this 300 billion dollars ??? nearly half the amount went to 2 Banks SVB & The Signature Bank. These are the 2 Banks that failed last week , now they have got only 143 billion dollars from the federal reserve. The money has gone into the holding companies of these Banks 143 billion dollars . What about the rest ? Which of the other banks have borrowed from the US Fed , we don't know yet , The US Fed did not identify the Banks neither did it share the number , perhaps because it did not feed into the Panic. You know once you declare that so and so Bank is in trouble and has been given a cash infusion, it sets off a chain reaction. Meanwhile Joe Biden and Team is trying to manage the narrative and sticking to its message , it insists that American Banks remain strong , yesterday the US Treasury secretary said the same to the Lawmakers , but are these assurances good enough ?
"What, if anything, could Biden do differently if he wanted to destroy the U.S.A.? "
Hand over the reins to any Republican from the past 20 years?
Boomers learned about hyperinflation in the 1970s - 1980s. Millennials are going to learn difficult lessons on the differences between luxuries and necessities. I predict that they won’t pay their kid’s way through college as most boomers did.
This is not an accurate take. The Fed turned to the industry giants to prop up First Republic so that the taxpayers don’t have to do it.
Are you Fox News?
Time to learn all about how to survive hyperinflation.