"As with the resolution of Silicon Valley Bank, no losses will be borne by the taxpayer," the statement added.
Looks like the feds and the Fed are using the latter's money so far. Someone who better understands economics can correct me if I'm wrong but so far so good as far as not using taxpayer money to bail these scumbags out.
Yep. That's what caused this in the first place, at least partly. But in this case apparently the funds being used for the bailout 1. come from a fund the banks themselves fund, and 2. only protect depositors, everyone else is being wiped out.
Hmm. Banks are bulletproof. Taxpayers assume all risk, all the time.
Looks like the feds and the Fed are using the latter's money so far. Someone who better understands economics can correct me if I'm wrong but so far so good as far as not using taxpayer money to bail these scumbags out.
Keep in mind, printing another trillion is "not using taxpayer money."
Yep. That's what caused this in the first place, at least partly. But in this case apparently the funds being used for the bailout 1. come from a fund the banks themselves fund, and 2. only protect depositors, everyone else is being wiped out.