US government bailout of Silicon Valley and banks is $300B gift to rich oligarchs

The US Federal Reserve printed $300 billion in a week to save collapsing banks and bail out Silicon Valley oligarchs. 93% of Silicon Valley Bank’s deposits were uninsured, over the FDIC limit of $250,000, but the government still paid them. 56% of SVB’s loans went to venture capitalist and private equity firms.

US government bailout of Silicon Valley and banks is $300B gift to rich oligarchs

Voices: J. D. Vance wouldn’t know what to say to a real Appalachian like me. Ohio deserves better

I sometimes joke that J.D. Vance is my evil twin. Born a year and a half before me, Vance and I are both the grandchildren of Appalachian out-migrants. He is the first in his family to obtain a university degree, and so am I. He grew up about 30 miles from where I grew up in the decaying Rust Belt cities between Dayton and Cincinnati. Jackson, from where his grandmother hailed and from whence J.D. claims his Appalachian identity, is 45 miles from my grandmother’s home town — and where I spent much of my childhood and graduated high school — in Hyden.

Voices: J. D. Vance wouldn’t know what to say to a real Appalachian like me. Ohio deserves better

Related:

J.D. Vance’s First Attempt to Renew Ohio Crumbled Quickly

Video via More Perfect Union

Peter Thiel’s midterm bet: the billionaire seeking to disrupt America’s democracy

Re-energized this election cycle, the tech entrepreneur joins other mega-donors apparently out to undercut the political system

Peter Thiel’s midterm bet: the billionaire seeking to disrupt America’s democracy

Related:

The Right’s Would-Be Kingmaker (archived, as it’s behind a paywall)

Anti-Globalist?! He invests in businesses, worldwide!? I doubt that it would be possible without globalization! 🤷🏼‍♀️