GloriFi in a GloriHole: MAGA Bank in Toilet, Goes Down (Drain)
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They’re not even a bank, so…
They’re just a company that … I don’t know? Sold products for a real bank in Texas?
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They’re not FDIC insured because they were just a sales company selling promotional products for the bank that they were using to back all their accounts and do all their servicing. That one is a bank though.
I think what’s more likely is that the bank got tired of dealing with their bullshit and fired them.
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right?
just like when ■■■■■ had the best economy of all time, despite the highest unemployment rate in more than 75 years, the safest cities despite the the fact they were all apparently “burning to the ground”, and oh yeah: he managed to kill nearly a million americans
and people seriously want him for president again 
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They are not actually a bank, at least in the sense most people imagine. They are a “virtual” bank basically acting as a reseller of banking services for a real FDIC insured bank. They provide the website and branding and can sell other services on the side, but customer deposits are held in the customers name at the real bank, and so should be protected. This is not by itself a dumb option, many online banks operate this way successfully.
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If corporations be people, like citizens united proclaimeth, lampert murdered sears. He’s an evil, vile ann (not a typo) rand worshiper.
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It’s funny, I thought I read this news a while ago, but I guess the writing has just been on the wall for a while - pretty much since the idea was floated, I suppose, it was clear the whole thing was basically a grift.
“Our grift totally would have succeeded, as long as no one figured out it was a grift!”
If the entity that was supposed to protect the MAGAts from “cancel culture” itself got canceled, it doesn’t say much for it, really…
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"financial challenges related to startup mistakes,
IE, we’re fucking dipshits
the failing economy,
Hasn’t slowed any other startups down
reputational attacks, and multiple negative stories
Who are you again? I haven’t heard nothing about you, and couldn’t care less who you are and what you represent. You’re just shit at your jobs.
This is what happens when you can’t accept the world is a wonderful, diverse place and you prefer making everything about your identity. Ironic really given your claims this about running AWAY from identity politics.
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Landroop cited “financial challenges related to startup mistakes, the failing economy, reputational attacks, and multiple negative stories,” as reasons for the downfall.
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I assume the “reputational attacks, and multiple negative stories” were people saying (accurately) they were shit at their jobs.
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It was those darn meddlin’ kids and their stupid dog!
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Right wingers are likely the most people still using the word “woke”.
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Let’s not forget anti woke film producers
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I mean, their slogan pretty much should have written itself - “Better broke than woke”. Oh, wait, that would probably have been just a tad too honest for these grifters.
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Failing economy? What the hell world is she living in? As for the rest, might as well cite “accurate reporting” as the reason for their downfall. But, as we all know, the party of “Personal Responsibility ( tm )” does not ever believe in any such thing for themselves. It’s all them damn Woke Libruls what dun it!
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I have to admit I did not catch the Fountainhead reference right away - must have distracted by the 130 MILLION.
The company I work for was a long time supplier for Sears and we got to watch their slow-motion, self-inflicted death. Lampert and his cronies, of course, got to amass all kinds of wealth.
And as an example of how these people operate - before it all went completely to hell they had spun out the brands (Craftsman, Kenmore, DieHard) into a separate corporate entity. So when it all crashed they sold the brands, which is why you now see Craftsman tools at Lowe’s.
If there is a grift, these bastards will find it.
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But GloriFi was unable to translate ideological grandstanding into functional corporate management
So, Elon Musk’s Twitter.
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That deserves a bonus.
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A new Godwin’s Law to replace the old one, which had been overtaken by events and no longer really applies. Excellent!
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