Is vivek this dumb? There's a cap in the case the bank has bad assets that can't be liquidated to cover the deposits. This situation is different as the bank has valuable assets which the Treasury can sell.
I don't think you understood what his tweet was about. The insured amount is 250k (capped). What he was saying is, "why even have a cap if you are de facto guaranteeing it all anyway".
Because it's NOT guaranteed over 250k. The ONLY reason why the deposits are covered this time was because a larger bank bought out the assets and covered the uninsured deposits ? No taxpayer money is going to fund the deposits? The bank is going bankrupt and all shareholders are going broke.
Pretty hilarious to see these billionaires arguing with each other on Twitter. I guess they aren't that different from us D&D folks lol.
We won't really know exactly how it plays out before tomorrow. But the Feds tried to tell everyone to by saying that deposits will be guaranteed. How exactly that will be achieved... Yul C.
You seem to have more experience with that than most people. Explain it to us like you understand it. In other words, as if everyone were five years old. Thanks.
Social media at it again. Sometimes people rush to judgment before all the facts are known. The joint statement has made it clear that taxpayers will not bear the costs, so any suggestion otherwise is incorrect. The markets should remain stable, and we can expect to receive further details tomorrow.
I don't really understand you. You come across as a smart educated person who's more knowledgeable then most right wingers. Why do you resort to thus sort of garbage? You know this is bullshit yet you spin it. The bank failed bcz the owners were gambling against the fed and got wiped out. Don't be a hack
Well maybe if you and I argue the rest of the d&d are homeless people arguing over some crack cocaine
By the way, we had most of our money with SVB. I had it transfered out when the first news broke that they were having issues. Would have looked even more like the genius that I am had this gone further down south.
They marketed themselves quite intensely to startups/scaleups, offering better rates, hosting industry events, dinners, etc. I was just invited to something last week.
