Billionaire Hedge Fund boss Bill Ackman demanded Joe Biden guarantee ALL bank deposits or the economy could face a meltdown.
Steve Bannon responded to Ackman’s demands on Friday.
“@BillAckman’s already said the gov’s got to come in here & actually do a bailout.
Your betters, all these arrogant digital nomads sit there & mock everything you stand for —
& they’re going to come to the deplorables like they always do like they did in 2008.”
-Steve Bannon pic.twitter.com/gN2ZjfO9gL
— Grace Chong (@gc22gc) March 11, 2023
On Monday’s War Room Steve had more to say about the proposed billions in bailouts that will stick the Deplorables with the bill.
Steve Bannon, “The most powerful oligarchs- who caused the run on this bank – and are the beneficiaries of all of the financial, quite frankly, crimes of this bank have the gall to come to you for a bailout.”
The Daily Mail reported:
Hedge fund boss Bill Ackman today warned the ‘economy will not function’ unless Joe Biden ‘guarantees all deposits now’ as the contagion spread to the Big Four.
Among the worst affected regional banks was Western Alliance which saw its stock plunge by 75 percent as the opening bell sounded. Trading circuit breakers were also imposed on First Republic as its price nosedived by two thirds and PacWest which dropped by 35 percent.
Major US banks also suffered with Wells Fargo plummeting 7.5 percent, Bank of America falling 7.4 percent, Citigroup plunging 5.8 percent and JP Morgan down 2.7 percent.
‘Our economy will not function effectively without our community and regional banking system. Therefore, the Federal Deposit Insurance Corporation needs to explicitly guarantee all deposits now. Hours matter,’ Ackman warned.
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