EDITORIAL
BY DHIREN SHAH
Hello Readers,
First Republic Bank has been closed by the FDIC and with about $50 billion in loan money (financing), from the FDIC, JP Morgan Chase will take over the bank. However, Chase will not assume the debt of First Republic, but accepts all the deposits. This is a good deal for Chase Bank, and its stock price went up a little over 2%.
This is a win-win situation for all, as the depositors do not have to worry and can take out all the money now if they wish to. The FDIC is playing with our money, helping the money people, and not the real people who need help. However, my suggestion is that once any large institution like a bank or hospital goes under, all the trustees of the board of that institution should not be allowed to work as an executive or to be a board member of that industry for the rest of their lifetime.
A $1.5 trillion-dollar debt increase proposal by the Republicans will not be accepted by the Democrats. The Republicans have cut down many loopholes for the President and its administration to flow money to their buddies and supporters. It is a fact that the majority of the money goes to the supporters, family and friends of the administration by how they find out about government programs and work with them as the laws allow. As we all know that very little money goes to the people who really need it.
Nikki Haley said that Senator Diane Feinstein (89 years old) should immediately resign. The same demand has been made by some Democratic congressional members. Haley said about Feinstein, “She’s in significant mental and physical decline.” Also, Haley talked about term limits. I agree with Haley for a term limit for all congressional candidates and senatorial candidates. Also, there should be a competency test for any elected official above age 75. I will say even further, there should be a competency test for any elected official above age 67 and 2 months, the retirement age. It is a matter of protecting our country and all of the citizens.
President Biden has sent 1500 troops to replace administrative workers and release border patrol officers to protect against illegal entry to our country. It is too little too late. First, an open border, then no deportation of illegal immigrants, then Texas’ governor sent illegal immigrants to Sanctuary cities. Biden and his diehard supporters are favoring illegals to enter the country due to humanitarian reasons. Their heart is good, but when I asked one of Biden’s diehard fans, “Can you allow a homeless person to stay for one week in your house?” Answer, “No. Why should I?” I said in the same way, the United States is our home, and we should not allow anyone illegally. There is a way of entering legally. It does take years, but that is the only way anyone should be allowed in my opinion.
President Biden has refused to acknowledge Hunter Biden’s four year old daughter as his grandchild. Hunter Biden has been served a mandatory subpoena to appear in an Arkansas court. He is trying to give the little girl a different name than Biden. Hunter may have to pay a large sum of money for child support. Most of the reporters are trying to ignore this report and do not want to name Lunden Roberts, mother of the girl, or even publish the whole affair despite it being worthwhile news. Maybe Hunter is problematic for Biden family, but Joseph Biden loves him so much, which is good for any father, that he is trying to ignore all his problems. However, he should teach honesty as well, if the reports are true.
Have a wonderful week. I’ll talk to you next week.
