"But it's not a bailout because the news said it's not a bailout!"
The NPC firmware update is going to be real cute while communist leftists suddenly defend rich people getting handouts only because those rich people are captains of Globohomo.
The 2012 Occupy Wall Street movement was never going to be anything more than a parade of ill-defined fantasies, but it's incredible how swiftly attitudes have changed since then.
I'll have to wait for the dust to settle but if they are selling off the assets, then providing the funds to depositors first and then other liability holders until nothing remains. That's just a liquidation with depositors having first priority, as should be the case. That's not a bailout.
Everyone needs to keep in mind that when the government insures deposits up to $250,000 that was always tax-payers covering losses... If people don't like that then the government shouldn't be in the business of insuring deposits.
So they're bailing them out, or at least their customers. Was to be expected considering they were mostly Dem voters.
Ohio? Eat poison and like it.
California? Make bad decisions and we'll bail you out.
Want a bailout? Just fire your head of risk and organize a month long trans awareness month in your bank.
Thats what SVB did…
"But it's not a bailout because the news said it's not a bailout!"
The NPC firmware update is going to be real cute while communist leftists suddenly defend rich people getting handouts only because those rich people are captains of Globohomo.
The 2012 Occupy Wall Street movement was never going to be anything more than a parade of ill-defined fantasies, but it's incredible how swiftly attitudes have changed since then.
So, two options, you fed fucks. Either you're lying (as always), or fiat currency is even faker than we thought it was. Or, of course, both.
I'll have to wait for the dust to settle but if they are selling off the assets, then providing the funds to depositors first and then other liability holders until nothing remains. That's just a liquidation with depositors having first priority, as should be the case. That's not a bailout.
The amount paid to customers more than SVB is worth will be covered by a special assessment on FDIC member banks.
Whether it's a bailout or how much of one depends on how much SVB assets are sold for.
Yes, that will remain to be seen.
Everyone needs to keep in mind that when the government insures deposits up to $250,000 that was always tax-payers covering losses... If people don't like that then the government shouldn't be in the business of insuring deposits.
what's sbf been up to lately?