Author Has a Way With Words

Posted by Oppo on 17 March 2023, 9:00 am

HOLD ON THERE: Treasury Secretary Janet Yellen Says Not ALL Deposits at ALL Banks Are “Insured”
Hotair | 03/16/2023 | Beege Welborn

i.e., Your deposit in Your bank.

Well, quit your grinnin’ and drop your linen – there’s been a rules change.
Apparently, the Biden administration has decided to pick winners and losers.
…“I’m concerned about the precedent of guaranteeing all deposits and the market expectation moving forward,” Sen. Mike Crapo, R-Idaho, the committee’s ranking member, said in his opening remarks.
Republican Sen. James Lankford of Oklahoma pressed Yellen about how widely the uninsured deposit backstops will apply across the banking industry.
“Will the deposits in every community bank in Oklahoma, regardless of their size, be fully insured now?” asked Lankford. “Will they get the same treatment that SVB just got, or Signature Bank just got?”

Yellen acknowledged they would not.

EXCUSE ME, WHUT?

…Uninsured deposits, she said, would only be covered in the event that a “failure to protect uninsured depositors would create systemic risk and significant economic and financial consequences.”
Lankford said the impact of this standard would be that small banks would be less appealing to depositors with more than $250,000, the current FDIC insurance threshold.
“I’m concerned you’re … encouraging anyone who has a large deposit at a community bank to say, ‘we’re not going to make you whole, but if you go to one of our preferred banks, we will make you whole.’”
“That’s certainty not something that we’re encouraging,” Yellen replied.

Just so the Biden Admin’s stance is clear:
If you’re a Silicon Valley VC, a Chinese foreign national, or an unprofitable green start-up – you’ll be bailed out.
But if you’re a farmer, a factory worker, a small business owner or a local bank that supports them – wait and see… pic.twitter.com/mpghONOYHS
— Will Hild (@WillHild) March 16, 2023

I feel sick that I now live in the Soviet Union (of the preferred elites, who are only those proven to contribute to approved causes). Constant benefits for them, unceasing punishment for everyone else. A Politburo counting election returns and announcing the winners. The KGB suppressing dissenters, and spying on not only citizens, but on the highest government officials — Congressmen, Senators, Justices — to whom they are not answerable, and blatantly refuse to answer.

Physically ill.

Straight Line of the Day: What Will College Life Be Like When Only Illegal Aliens Are Going For Free?

Posted by Oppo on 16 March 2023, 12:00 pm

NYC Mayor Eric Adams Wants New Yorkers To Pay for Migrants To Go to College
Red State | 03/10/2023 | Jeff Charles
New York City Mayor Eric Adams has a novel idea as his administration continues to deal with thousands of migrants and illegal aliens being sent to the Big Apple: He wants residents to pay for at least some of them to attend college.
That’s right.
The money that the Empire State takes from its residents will go toward educating migrants seeking asylum, if Mayor Adams gets his way.
The New York Post reported:
Adams plans to provide as many as 100 migrants with 12 months of classes, room and board in upstate Sullivan County — and the project could continue indefinitely, The Post has learned.
“The pilot program — to be overseen by Adams’ newly created city agency, the Office of Asylum Seeker Operations — involves both SUNY Sullivan community college in tiny Loch Sheldrake and The Center for Discovery, a special education school in nearby Harris.
“The cost to taxpayers hasn’t been disclosed but will likely exceed $1.2 million in the first year, based on the price tag for two semesters at SUNY Sullivan alone.
“The pilot program will “focus on resettlement and legal services, as well as a new 24/7 arrival center for asylum seekers,” according to a press release.”
While this is a progressive white savior dream, others are not so keen on the idea. Rep. Elise Stefanik (R-NY) told the Post that Adams “is incentivizing and rewarding illegal immigration simply to export the crisis of Democrats’ own making out of New York City.”
Breitbart News noted that, “ince April 2021, some 50,000 migrants have arrived in the Democrat-run sanctuary city, with more than 30,000 still in the city’s care.”
Many of these individuals are being sheltered in 85 hotels using taxpayer funding. The massive influx of migrants has harmed small businesses that typically rely on tourist dollars to stay afloat.
In a statement announcing the creation of the OASA, Adams said:
“New Yorkers know that the asylum seeker of today is the citizen, the leader, and the innovator of tomorrow, and I’m proud that New York City is leading the way, turning a crisis into an opportunity for progress for the entire country.”

Welcome to IMAO! Interns Are Kept Busy

Posted by Oppo on 16 March 2023, 11:00 am

Cartoons and Memes

Posted by walruskkkch on 16 March 2023, 10:00 am

“Good morning Mr. Walrus all dressed for St. Patrick’s Day Eve?”

“Is that a thing?”

“It is for me.”

“Me too then.”

“Not sure about that phrasing. Here is last week’s winner and this week’s entries. That nice Mr. Slapout has come through with more for us.”

“Then let us share.”

Winner

This week’s entries

Promoted Comment: ‘Tis the Season

Posted by Oppo on 15 March 2023, 1:00 pm

Per Gene, regarding the Ides of March:

Wait, too much going on. I thought it’s also Bank Failure Season… I still have my train derailment decorations up.

Straight Line of the Day: What Memorable Lines Can We Expect From Brandon’s Upcoming Eulogy of Jimmy Carter?

Posted by Oppo on 15 March 2023, 12:00 pm

Courtesy of Gumbeaux:

Straight Line of the Day: What memorable lines can we expect from Brandon’s upcoming eulogy of Jimmy Carter?

Welcome to IMAO! Dive In!

Posted by Oppo on 15 March 2023, 11:00 am

Babe or the Gun?

Posted by walruskkkch on 15 March 2023, 10:00 am

“Miss Lawless, always a pleasure.”

“Always?”

“Well, sometimes more of a pleasure than others.”

“Today?”

“I would say more.”

“Lucky you. Anyway more Babe or the Gun voting this week. The babe won 78-14 last week.”

“What’s up for this week?

“This choice.”

This poll is no longer accepting votes

It’s Tuesday, and I Don’t Want To Kid You About Looking Forward to Friday; But…

Posted by Oppo on 14 March 2023, 3:00 pm

Let’s just say . . .

Walrus and I are both now retired.

Your Take on Calculus?

Posted by Oppo on 14 March 2023, 1:00 pm

‘A Bankrupt Concept of Math’: Some Educators Argue Calculus Should Be Dethroned
The 74 via Yahoo | March 13, 2023 | Jo Napolitano
Successful completion of high school calculus has long been an unofficial must-have for those seeking admission to the nation’s top colleges: The course has, for decades, served as a signal to admissions officers that a student’s coursework has been robust.
But some in education say it’s time to reconsider this de facto requirement: Many schools — particularly those serving large numbers of Black, Hispanic or low-income students — don’t offer the course.

Well, then, complain about the school’s administrators, not the course. Duh. “No one studies Shakespeare because we don’t offer it as a course.”

And even when they do, it’s of dubious value, they say.
“High school calculus is a complete waste of time and a form of torture,” said Alan Garfinkel, professor of integrative biology and physiology and medicine at UCLA. “The view … that math is a bunch of symbolic expressions, and you bang on them with tricks to get other symbolic expressions, is a bankrupt concept of math, dating from the 19th century.”
The course, as it’s often taught at the high school level, is inaccessible and often perceived as irrelevant to students’ interests, critics say. Just 16% of high school graduates earned credit for calculus in 2019, according to data culled by the National Assessment of Educational Progress, a statistic no doubt shaped by its unavailability.

I do have a bee in my bonnet about calculus:

It wasn’t a requirement in my high school.

(Nobody ever whispered to me that it was “an unofficial must-have.”)

We had something for the math dummies like me, called “Introduction to Calculus.” It explained limits and approaches-to-limits in basic, understandable algebraic terms. Never got to much calculus. This was a year-long course, mind you.

I was still a math dummy. (Algebra and trig, OK — just not calculus.)

Got to college — where it was assumed everyone already knew calculus. Whoops! Took some kind of remedial intro course. But you were allowed to drop one course and not have it count against your GPA. Guess which one got chosen.

As we English majors say, I still have a bee in my bonnet. If it’s not out of keeping with the situation.