Silicon Valley Bank depositors will have access to ‘all of their money’, regulators say

The U.S. Treasury, the Federal Reserve and FDIC announced in a joint statement that Silicon Valley Bank "depositors will have access to all of their money starting Monday, March 13." NBC News' Gary Grumbach shares the latest.


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#svb #money #economy

[anthonyarnold]

It's called a Government Bailout!!!

[tjmichael]

it's ridiculous to say losses are not going to fall onto taxpayers since all the banks cover this loss through fees and will just raise fees via all their consumer products

[dougm]

Bank runs did not happen with Trump!
FJB

[mrbasketball]

taxpayers can pay for these greedy speculative criminals

[keithcanfield]

It's not surprising this banking failure would start in the most liberal, woke community in Americs. Tell me again how great our economy is.

[ronkirk]

This isn't a federal taxpayer bailout, but rather a bailout by ALL depositors whose accounts are insured by the FDIC, because with this deal, the FDIC will be paying out on accounts in excess of the $250, 000 they normally cover, insurance premiums will increase for banks, and you guessed it, these added costs will be passed on to ALL depositors. Meanwhile, CEO's who made the bad business decisions that caused this collapse will still get their millions in excessive compensation.

[scabcrawler]

Next will be the housing market crash. 2008 all over again 🙄

[brentharrington]

This will be an interesting few days.

"Technically" SVB was a solvent bank and had normal exposure. The reason it failed was a massive run.

Given the amount of free-floating anxiety in our current environment, I would not be shocked to see this hysteria spread.

[stevehalloran]

Trump says miss me yet. 😂😂 Good job Joey

[noway]

I like presidents that don't crash the economy.

[hdtvcamera]

Banks and financial institutions should make protecting investors money their first priority.
The real tragedy is thousands of people are going to lose their jobs in a community where corporate belt tightening is already underway.
This is going to affect a lot of families who did nothing wrong.

[ygt-cdmg]

All depositors will have access to all of their money and no bail out. So who is paying out the $175 Billion deposit? I guarantee you all of depositors would withdraw all their deposit on Monday…you would be fool if you don’t. But again where is the money from?

[arethereanyuniquehandles]

Bailout here we go. What a crock of lies, if they are covering all deposits, this becomes a bailout, how they do it, will be interesting. Says FDIC will cover the risk, but no intended for uninsured deposits. Someone is going to buy their assets at inflated prices, mostly likely the FED. Follow the money.

[t.r.campbell]

It will take a long time for these depositors to get their money back. It takes years sometimes or the FDIC to pay back insured bank failure money. The depositors will have to have many items of proof that they did, indeed deposit money in that field bank, and it will take probably years to get their money back.

[classifieddementiatalibani]

Jim Eagle 🦅 says to pony why the long face???

[lolawalsh]

How? HOW? HOW? BS. NO MOE BAILOUTS!!!!¡!!!!

[thandanjamba]

Soon you'll have to take you paycheck of money home in a wheel barrel to pay taxes and to live

[windorsolarplease]

What happens if a person has a loan on that bank, house/car? Do they have to find a new bank for a loan that has a higher interest rate?

[IntelligenceONE]

Maybe they should send in antifa or blm.

[robertwynn]

Follow the money 💰. Ties to SVB failure and Trump may exist.