this post was submitted on 23 Nov 2024
226 points (99.1% liked)

News

23530 readers
6054 users here now

Welcome to the News community!

Rules:

1. Be civil


Attack the argument, not the person. No racism/sexism/bigotry. Good faith argumentation only. This includes accusing another user of being a bot or paid actor. Trolling is uncivil and is grounds for removal and/or a community ban. Do not respond to rule-breaking content; report it and move on.


2. All posts should contain a source (url) that is as reliable and unbiased as possible and must only contain one link.


Obvious right or left wing sources will be removed at the mods discretion. We have an actively updated blocklist, which you can see here: https://lemmy.world/post/2246130 if you feel like any website is missing, contact the mods. Supporting links can be added in comments or posted seperately but not to the post body.


3. No bots, spam or self-promotion.


Only approved bots, which follow the guidelines for bots set by the instance, are allowed.


4. Post titles should be the same as the article used as source.


Posts which titles don’t match the source won’t be removed, but the autoMod will notify you, and if your title misrepresents the original article, the post will be deleted. If the site changed their headline, the bot might still contact you, just ignore it, we won’t delete your post.


5. Only recent news is allowed.


Posts must be news from the most recent 30 days.


6. All posts must be news articles.


No opinion pieces, Listicles, editorials or celebrity gossip is allowed. All posts will be judged on a case-by-case basis.


7. No duplicate posts.


If a source you used was already posted by someone else, the autoMod will leave a message. Please remove your post if the autoMod is correct. If the post that matches your post is very old, we refer you to rule 5.


8. Misinformation is prohibited.


Misinformation / propaganda is strictly prohibited. Any comment or post containing or linking to misinformation will be removed. If you feel that your post has been removed in error, credible sources must be provided.


9. No link shorteners.


The auto mod will contact you if a link shortener is detected, please delete your post if they are right.


10. Don't copy entire article in your post body


For copyright reasons, you are not allowed to copy an entire article into your post body. This is an instance wide rule, that is strictly enforced in this community.

founded 2 years ago
MODERATORS
 

KEY POINTS

  • Thousands of Americans will receive little or nothing from savings accounts that were locked during the collapse of fintech middleman Synapse.
  • Customers believed the accounts were backed by the full faith and credit of the U.S. government.
  • CNBC spoke to a dozen customers caught in the predicament, people who have lost sums ranging from $7,000 to well over $200,000.
  • While there’s not yet a full tally of those left shortchanged, at fintech Yotta alone, 13,725 customers say they are being offered a combined $11.8 million despite putting in $64.9 million in deposits.
you are viewing a single comment's thread
view the rest of the comments
[–] hesusingthespiritbomb 47 points 2 weeks ago (1 children)

Honestly I have a lot of sympathy for these people.

It's one thing to invest in some moonshot crypto. It's another to invest in something claiming to be FDIC insured. There's also not a good way of verifying that information to the extent the victims would have needed to know something was amiss.

It seems like the FDIC was asleep at the wheel, and didn't really know or give a shit that someone was leveraging them to mislead consumers. Instead of actually fixing the problem, they just washed their hands of it.

You can call Trump the devil all you want, but the system was broken long before he came on the scene.

[–] Allonzee 1 points 2 weeks ago* (last edited 2 weeks ago) (1 children)

The Reagan Revolution is more responsible for Trump than Trump and the crony oligarch masturbatory clown show we call an economy.

Imho, the last chance to save this faltering country would have been to reject the trickle down economic con, Reagan electorily, and Welch culturally.

There was just no coming back from doing that and convincing their former opposition to take the bribe money with them, today's neoliberals.

The last 40 years have just been leftover momentum, playing pretend this country wasn't over as anything but an oligarch exploitation trap.

The United States as a society irrevocably died around the time the first millennial was born. Twas unrepentant greed workshop that killed the beast.

[–] hesusingthespiritbomb 1 points 1 week ago

I mean Trump's economic policies are a philosophical rejection of trickle down economics. He campaigned on a platform of leveraging trade protectionism and immigration reform to produce higher blue collar salaries. He's doing so in a way that is giving both Wall Street and economic experts conniptions, because they'll end up biggest losers. Trump has even explicitly called out NAFTA and one of the reasons he won 2016 was his rejection of the TPP.

That is honestly the kind of policy I'd be opening to supporting in a vacuum. A lot of it is oddly similar to Bernie's economic plans circa 2014. The problem is Trump is an openly corrupt billionaire, friends with other slightly less openly corrupt billionaires, may/may not be a Russian asset, and probably is in the early stages of dementia. There's absolutely no way he delivers.