Good ideas and conversation. No ads, no tracking. Login or Take a Tour!
b_b · 446 days ago · link · · parent · post: FDIC Creates a Deposit Insurance National Bank of Santa Clara to Protect Insured Depositors of Silicon Valley Bank
I’m having trouble squaring that circle. “Depositors made whole. No taxpayer money will be used.” Um, what? You’d think they’d elaborate a bit. Edit: This from the WSJ is thin but plausible I guess: The government’s bank-deposit insurance fund will cover all deposits at the two banks, rather than the standard $250,000. Federal regulators said any losses to the government’s fund would be recovered in a special assessment on banks and that the U.S. taxpayers wouldn’t bear any losses.