Quote:
Originally Posted by Rajoo
On a serious note, I am not a fan of bailouts at all. But in SVB's case it happened very quickly and a lot of employee payrolls were affected, which is why the $250K (FDIC limit was raised I believe).
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In fact, I've not heard a justification from the Biden administration on why they're insuring all depositors at full value, rather than the FDIC limit of $250K. More than 90% of the bank's deposits would not have been covered by $250K FDIC insurance.
The administration also keeps saying that this is not a taxpayer-funded bailout. That's an outright, bald-faced lie. OF COURSE taxpayers will foot the bill for this!