The collapse of two big Democrat-run banks in Democrat-run states has the Democrat-run Federal Reserve and the Democrat-run Treasury Department telling us we are in a crisis. Democrats tell us the government must save the banks. Democrats want to save the banks by targeting community and regional banks in Republican-run states, not the big banks that failed.

Sure, that will work just dandy. …

The TBTF banks are draining the FDIC by having it cover the deposits that the TBTF do not pay premiums on. The narrative is that we must make all depositors whole because — well, just because it seems like social justice to spare billionaire Mark Cuban a trim of $10 million from his net worth.

[Don’s spot-on. I wrote about this earlier in the week, and warned that the solutions being floated — especially by Elizabeth Warren — amounted to bailouts of the 1% and the end of distributed banking in the US. — Ed]