Taxpayer dollars will not be used to pay back SVB deposits, according to the Biden administration.

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Комментарии
Автор

The C-suite better not get any golden parachutes out of the failure. If they do, then they gambled and won, even if the bank lost -- it would create a huge moral hazard.

There should be a law that executive contracts at a bank that is taken over by the FDIC (or at a company that goes bankrupt) are nullified. That would be a small step towards stopping the practice of privatizing profits and socializing losses.

dosadoodle
Автор

They’re only insured up to $250, 000, not enough to pay back anyone with more deposits than that.

JustMe-hhsl
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Investing should never have been part of banking anyway. That’s what Glass-Steagall is about! The Federal Reserve has all our money. 😒

LilCraftyNook