News video: Balint says plan to save Big Tech bank “not a bailout”

Compares it to federal student loan forgiveness

Vermont Daily Chronicle News Video by Guy Page

Following the failure of a big tech bank in California and, on Sunday, a New York cryptocurrency bank, federal regulators say they will fully cover deposits at both failed banks and rely on Wall Street to cover the costs. This morning, speaking on the popular Morning Drive public affairs show on WVMT, Vermont Representative Becca Balint corrected a caller who referred to the deal as a bailout and instead compared it to the proposed federal student loan forgiveness program.

“It’s not taxpayer money, and its not a bailout,” Balint said. (See video for more complete remarks).

Representative Balint’s support for the Big Tech banks comes while federal authorities are investigating a million dollar campaign contribution made by the cryptocurrency firm FTX which helped her win the Democratic primary last August.

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Categories: Congress, Video

27 replies »

  1. Like all Democrats she is generous with other people’s money. She is also as crooked as a stick.

  2. And we’re not in a recession. And the mrna injections are safe and effective. And the border is secure. And they’re not teaching critical race theory in schools. And China is not a threat. And the burning riots are mostly peaceful. And the covid flu didn’t come from the Wuhan lab. And the Afghanistan withdrawl was a success. And the SVB failure was due to Trump policy changes. And men can get pregnant. And East Palestine is safe for habitation. And on, and on, and on…..

    • You forgot that Fox News and Donald Trump can’t ever state facts. (I despise Trump as a person, but, GIVE ME A BREAK!, there are people who insist that everything he says must be a lie because he said it. I guess it’s easier than doing any research, to just attack him with absurdity.)

      • Character Assassination is the go to strategy when you have no valid data and actual facts…..

  3. What a witch ! First, she claims she does not know where here $1M campaign contribution comes from, now she claims giving out other peoples money to students who do not deserve it is the same as backing up these depositors. ALL wrong !

    Oh, and Ms Balint. Give the money back ! The longer you keep it, the deeper the hole that you are digging gets.

  4. Our beloved Vermont really needs a public bank. The writing is on the proverbial wall next door in NY. It’s only a matter of time for us. Enough of this powers-that-want-to-be nonsense already folks. It will be a step in the right direction for a Sector nd Bermont Republic. Let’s get it while we can. Please.
    The 2VR site has a great explanation of a public bank
    🏦, like in N. Dakota.

    • This is a sovereign state bank… it is time for many to local banks to get them to,be sovereign from the Fed, to be truly separate ( no big parent banks ) to preserve and/or create local currency etc. Each state needs a sovereign state bank. However I doubt Vermont would ever go for it.
      Perhaps first we need a new state …. NE VT+ Northern NH, + NW ME.

  5. Has she quit yet? If I recall she was elected with slimey FTX money and doesn’t even belong in office.

  6. So she’s a financial expert just like her benefactor Sam Bankman-Fried? Oh wait, is she one of those with the over $250,000 accounts Biden stepped in to save? If so, of course its not a bail out. It’s just free taxpayer money just like the poor dear student debtors.

  7. It is not a bailout, it is a bail in….silly peasants. The burning smell is either documents being thrown into barrels or the American financial system set ablaze by incompetence and theivery. Transfer of wealth? Usher in the CBDC? Both? It is a tangled web indeed. So tangled no one knows for sure what is going on – other than insolvency – no amount of fake digits, fake news or Senator Mark Kelly calling for more censorship will cover up the Truth now.

  8. I voted for her in the demoncrat primary thinking that the best scenario was for Vermont state government to be rid of her…she would just be another Peter Welch with a skirt in WashingtonDC. It sure is good to have her out of Montpelier but she can still do some serious damage in congress. She is correct in that bailing out a moonbat-operated bank is like college loan “forgiveness”…they both are unjustifiable ripoffs to taxpayers which promote irresponsible behavior. The left destroys everything it touches.

  9. There is never a time that I remember, where there is no need to respond to a crisis with these people. And, there is never enough money, NEVER< NEVER!!!!

  10. What are you talking about? A new state with NH and Me? Seriously? Are you paying attention in class today?
    We already have our own Republic’s treaty with the empire of UNtied States. We just need to exercise our rights and invoke the spirit of that fine agreement my relations agreed to in ‘91. Get out of the madness while we still can. Smarten up!
    Better yet go to detention… and do your homework 📚

  11. Get ready for the crypto currency 💴 kiss your liberties good bye 👋 keep drinking the koolaid…

  12. So, Bailout Balint has no clue that F.D.I.C. insurance is paid for by bank fees charged to bank customers on various transactions. And now they want to do away with the
    $250,000 limit to insure all deposits no matter how high the amount. Wonder what will happen with the bank transaction fees and who will pay them?

  13. “….corrected a caller who referred to the deal as a bailout and instead compared it to the proposed federal student loan forgiveness program.”

    Right.. the school loan program is just the same preferential treatment for the effluent scumbags.
    Why hasn’t she been hauled in for election fraud by stolen funds?.

    • Timothy, when I read your use of effluent, I wondered if it was a typo fir “affluent.” Then I looked up the Wikipedia definition: “Effluent is wastewater from sewers or industrial outfalls that flows directly into surface waters either untreated or after being treated at a facility.”

      Hmmm…..maybe that’s NOT a typo

  14. The money to reimburse those depositors — above the standard $250,000 per account — will come from the Deposit Insurance Fund of the FDIC.
    While the DIF is backed by the full faith and credit of the United States government, it has two sources of funds: assessments (premiums) on FDIC-insured institutions and interest earned on funds invested in U.S. government obligations. Revenue from assessments and interest on investments add to the DIF balance, while losses primarily from bank failures and operating expenses reduce the balance.
    This morning, MIT economist Simon Johnson: “Disingenuous: that’s the right word to describe anyone (Treasury official or not) who claims the DIF is not ultimately backed by the taxpayer.“

    Thank you to the present administration for spending trillions on the COVID recovery act, including $ spent while Trump was still in office, the infrastructure act, and the “Non” Inflation Reduction Act. All which fueled inflation and forced the Federal Reserve to jack up interest rates, thus making the SVB investments in low or zero interest Treasuries and Bonds a liability.

  15. Becca, you keep acting and speaking in a manner that shows you think we are dumb. We’re not. And, you’re on your way to the dustbin of Vermont political history.

  16. This is all a play on words… First the Federal Reserve is no Federal it’s a Bankrupt Corporation who was for years set up in P.R. and the IRS was their Collection Agency to send collected Funds over to the owners who were, in Europe.

  17. Continued from my prior post.
    The COG VS the CCP Government of Biden. Since Trump made the Fed Res as part of the Treasury they have lost their ability to print money. They are now (the Deep State) living off the squirreled away funds which were collected in the form of taxes from citizens; yes YOU.
    Soon the NYSX will take the nose dive and Pier One and perhaps Pier Two banks will close their doors.
    There will be no money to bail these Deep State Banks out..

    If you don’t believe me, which most will not you’ll find out in a short time. If you want to take the time to find out look for the PEIDS President Trump issued prior to leaving office as President and in March of 2021 the MILITARY ANNOUNCED he is now wearing the HAT , CIC = Commander and Chief of the Military Forces.. OH YES he Federalized the Nation Guards of all 50 States, 1millon on our NG Military on active duty in the skies and on the ground. NO GOVERNOR has the power or authority to active the NG to active federal service.. Do You Homework…

    The closing remark: BIDEN HAS NEVER BEEN ON Airforce 1or 2; only CIC TRUMP.. chew on that…..