So... the summary is that for all the fear some people had that taxpayers would "bail out billionaires," and the corresponding fear that companies had that "a ton of our money could evaporate and destroy the economy with massive downstream impact"... FDIC/Treasury stepped in and did the right thing: depositors made whole, no taxpayer funds, bank assessment to make up any difference, & SVB equity/unsecured debtholders (mostly) wiped out.
A very good result.
Mike Masnick ✅ /
npub1gr…335cv
2023-03-12 23:03:24
Author Public Key
npub1grz7afdguc67jkjly6fu0xmw0r386t8mtxafutu9u34dy207nt9ql335cvPublished at
2023-03-12 23:03:24Event JSON
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"content": "So... the summary is that for all the fear some people had that taxpayers would \"bail out billionaires,\" and the corresponding fear that companies had that \"a ton of our money could evaporate and destroy the economy with massive downstream impact\"... FDIC/Treasury stepped in and did the right thing: depositors made whole, no taxpayer funds, bank assessment to make up any difference, \u0026 SVB equity/unsecured debtholders (mostly) wiped out.\n\nA very good result.",
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