European regulatory authorities blow up the Federal Reserve for rescue operation for SVB insert

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Von: Krypto News Österreich

Europäische Regulierungsbehörden und Politikexperten sind bestürzt darüber, wie amerikanische Wachhunde am vergangenen Wochenende mit dem Zusammenbruch der Silicon Valley Bank umgegangen sind.Bestimmte politische Entscheidungsträger lehnen die „Systemrisikoausnahme“ der Fed ab, von der sie glauben, dass sie die Glaubwürdigkeit des Bankwesens weltweit untergraben könnte. Kritik am Bailout Entsprechend der Finanzzeiten, Ein hochrangiger Beamter der Eurozone sagte, die Federal Reserve habe in ihrer Reaktion auf das Scheitern der SVB „völlige und äußerste Inkompetenz“ gezeigt und sich von jahrelangen „langen und langweiligen Sitzungen“ abgewandt, in denen ein internationales Regelwerk zur Beendigung von Bankenrettungen erstellt wurde. Während die Fed, das Finanzministerium und die FDIC …
European regulatory authorities and political experts are dismayed by how American wax dogs dealt with the collapse of Silicon Valley Bank last weekend. Determined political decision -makers reject the "system risk exception" of the FED, which they believe that they could undermine the credibility of banking worldwide. Criticism of the bailout according to the financial times, a high -ranking civil servant of the euro zone said that the Federal Reserve showed in its response to the failure of the SVB "complete and extreme incompetence" and turned away from years of "long and boring sessions", in which an international set of rules was created to terminate bank rescues. While the Fed, the Ministry of Finance and the FDIC ... (Symbolbild/KNAT)

European regulatory authorities and political experts are dismayed by how American guard dogs were dealt with last weekend with the collapse of the Silicon Valley Bank. /> Certain political decision-makers reject the "system risk exception" of the Fed, of which they believe that it could undermine the credibility of the banking world worldwide.

criticism of the bailout

according to the finance times , a high-ranking civil servant in the euro area said in its reaction The failure of the SVB showed "complete and extreme incompetence" and turns away from years of "long and boring sessions", in which an international set of rules was created to terminate bank rescues.

While the Fed, the Ministry of Finance and the FDIC insist that there was no "rescue operation", critics say something else. While the backstop plan of the agencies of banking investors or shareholders did not compensate, it was the insert completely made even with deposits that are above the standard insurance limit of $ 250,000 of the FDIC.

This so-called "systemic risk exception" was not well received by experts on the other side of the Atlantic. "This is the US version of the small Venetian banks," said a French political expert in relation to Monte Dei Paschi, an Italian bank that has continued to struggle despite years of liquidity injections and support. "You are always systemic for someone."

Nicolas Véron, regulatory expert at Peterson Institute, said that it was "very questionable" to call SVB as "systemic risk", and could create a dangerous precedent.

A European regulatory authority also criticized the claim of the US regulators that their rescue operation would not be borne by the taxpayer. "At the end of the day, this is a rescue operation paid by the simple people, and it is a rescue operation for the rich risk capital providers, which is really wrong," he said.

at home, house financial services committee chair patrick mchenry public defends The actions of the united states on Tuesday, Tuesday, who reject the idea that they make the country anti -capitalist. "The Fed does what the Fed should do," he said.

crypto industry in rescue actions

While crypto is often popular libertarian with a strongly capitalist worldview, many of the top players in the industry themselves were exposed to the failure of the SVB. Of course, the community tore this back and forth whether the backstop plans of the Fed were justified.

The Bitcoin journalist and permanent bull Max Keiser was against the action: "Maybe it would be the best if you all turn them upside down and we try all this capitalism again, but without the fraud", he tweeted Sunday.

others like Nic Carter, a crypto-essayist and co-founder of Castle Island Ventures, were more likeable. "It is much, much, much more expensive to burn everything down than just protecting the inserts," he says wrote before the rescue operation on Saturday. Castle Island Ventures himself was exposed to SVB Kreis , ripple and others.

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