[Aunche]

> Because the taxpayers (and all users of USD) repeatedly bail them out.

The taxpayer didn't pay for those bailouts. They were funded by the DIF, which was replenished by premiums that banks pay.

> They’re a pretty bloated middleman if their sole purpose is to update a database to reflect incoming and outgoing cash flow.

Did you just look into what banks do at all before making this claim? If that were the case, companies like Apple, Bilt, and Robinhood wouldn't be relying on real banks and could easily start their own.