“Once Congress changes the base to an asset test, what is to stop them from thinking up other kinds of incentives that meet whatever social agenda they might have?” [emphasis added]
— James Chessen, ABA chief economist, protesting a move to base deposit insurance rates on assets instead of domestic deposits (May 10, 2010 American Banker)
Since when did community banks become a “social agenda”? Oh, you mean a “social agenda” like using taxpayer dollars and special assessments levied against community banks to bail out failed mega banks and their investors and managers, while allowing community banks, their investors and their managers to drop like flies? It seems to me that maintaining the too-big-to-fail mega banks is the “social agenda” here, not helping the “too-small-to-save” community banks!