"A government of laws, and not of men."
- John Adams
Not when Biden and Yellen get to decide what's legal and what's not.
‘That Is Happening Right Now!’: Sen. Lankford Tears Into Yellen Over Bank Bailouts
March 16, 2023
https://dailycaller.com/2023/03/16/james-lankford-janet-yellen-svb-bailout/
Oklahoma Republican Sen. James Lankford grilled Treasury Secretary Janet Yellen on Thursday over whether Oklahomans would be bailing out Chinese investors and whether small banks would be hurt by the bailout.
Yellen was testifying at the Senate Finance Committee hearing.
“Will the deposits in every community bank in Oklahoma, regardless of their size, be fully insured now? Are they fully covered, every bank, every community bank in Oklahoma, regardless of the size of the deposit? Will they get the same treatment that SVBP just got or Signature Bank just got?” Lankford began.
“A bank only gets that treatment if a majority of the FDIC board, a super majority of the Fed board and I, in consultation with the president, determine that the failure to protect uninsured depositors, would create systemic risk and significant economic and financial consequences,” Yellen replied.
