Great news for everyone in tech today
https://www.investors.com/market-trend/stock-market-today/dow-jones-futures-fdic-ready-after-svb-financial-collapse-watch-these-bank-stocks/ #svb #fdic #feds #bankstocks
Investor's Business Daily
Happy to hear that
In other words, bears are fukked?
not great. Some stupid startups should burn down
And they still will with the increase interest rates, this isn't going to save startups who can't get their next series. This will save companies who shouldn't close just because they chose the wrong bank to park cash.
This will burn down perfectly good startups which could have grown and created jobs for you.
as a taxpayer, i feel very confident that the fed made a good deal
Federal regulators announced on Sunday that they would ensure that all depositors of Silicon Valley Bank — which failed Friday — were paid back in full as they rushed to contain fallout from the collapse of the large institution. The Federal Reserve, Treasury and Federal Deposit Insurance Corporation announced in a joint statement that “depositors will have access to all of their money starting Monday, March 13. No losses associated with the resolution of Silicon Valley Bank will be borne by the taxpayer.”
Sure it won’t directly affect taxes. The Fed is backstopping these failing banks with its balance sheet like it did for covid. We’ve seen the outcome of that strategy: inflation.
is government backing all deposits above fdic limits?
Appears that way. Three cheers for equity. Let’s all pay for the mistakes of a few.
No losses associated with the resolution of Silicon Valley Bank will be borne by the taxpayer.
anything government does in hurry is bad for tax payers
Federal regulators announced on Sunday that they would ensure that all depositors of Silicon Valley Bank — which failed Friday — were paid back in full as they rushed to contain fallout from the collapse of the large institution. The Federal Reserve, Treasury and Federal Deposit Insurance Corporation announced in a joint statement that “depositors will have access to all of their money starting Monday, March 13. No losses associated with the resolution of Silicon Valley Bank will be borne by the taxpayer.”
this makes no sense No losses associated with the resolution of Silicon Valley Bank will be borne by the taxpayer.
Faith and confidence restored at the end of the day!!
It’ll be repeat of WAMU 2008. JP Morgan got it for cheap then and is also one of the banks being considered to buy SVB. Clients would have moved their funds to JPM, BOA or another big bank anyway so makes them feel confident to chill and stop panicking
This effectively kills a sale of the bank. The FDIC is completely taking it over and running it until they can liquidate all assets.
Also water is wet
That’s bad news. I want everything to crash and burn
DocuSign is fulfilling your wish anyways
I’m well aware