100% and that’s how I saw it as well. My grandparent lost back in the depression years also and never used the bank again. I don’t trust the gaurentee up to a certain amount. Sure it’s there in writing but no where in the writing does it say when you will get it…. 2 days, 30 days, 3 years….?
www.zerohedge.com
INGO group buy?Fed Panics: Signature Bank Closed By Regulators; Fed, TSY, FDIC Announce Another Banking System Bailout | ZeroHedge
ZeroHedge - On a long enough timeline, the survival rate for everyone drops to zero
rumble.com
Fed Panics: Signature Bank Closed By Regulators; Fed, TSY, FDIC Announce Another Banking System Bailout | ZeroHedge
ZeroHedge - On a long enough timeline, the survival rate for everyone drops to zero
www.zerohedge.com
www.wsj.com
Posting this here, as well as in the stock market thread, since we have two threads basically talking about the same thing...
SVB, Signature Bank Depositors to Get All Their Money as Fed Moves to Stem Crisis
The Fed said it would make additional funding available to banks to ensure they have “the ability to meet the needs of all depositors.”
"The government’s bank-deposit insurance fund will cover all deposits at the two banks, rather than the standard $250,000. Federal regulators said any losses to the government’s fund would be recovered in a special assessment on banks and that the U.S. taxpayers wouldn’t bear any losses."
This overpayment comes from the money the government makes…
And how many will believe him? LOTS............How long before sloppy joe gets on the tube and blames all of this on those Ultra maga republicans.
Two major banks dead in a week and FDIC fund already tapped out. Okie dokie, Janet, tell me again about how the taxpayers are safe.Bailing it out with FDIC insurance funds.
All depositors made whole no matter the amount.
All stock holders to 0
The loss to share holders is not small. SVB may have only had 209 billion in assets,but the stock was way over valued. The knock off effects will appear where those losses are greatest.
In their joint statement, regulators also announced a similar systemic risk exception for Signature Bank (SBNY), which was closed on Sunday by its state chartering authority.
The heads of all federal reserve branches and US treasury voted both were systemic risks. This meant they could use FDIC insurance to cover all deposits(something they could not do without the vote). So not one but two banks bailed out by the FDIC. Wonder how that 1.4% of total deposits reserve is doing over at the FDIC. Oh,they only have 125.5 billion in total funds...well interesting. They will not have much left after these two banks depositors are made whole.
Ah,and the new bank fees you will pay.
"Any losses to the Deposit Insurance Fund to support uninsured depositors will be recovered by a special assessment on banks, as required by law."
Stocks to the moon!(and inflation will be along for the ride).
Fed Panics: Signature Bank Closed By Regulators; Fed, TSY, FDIC Announce Another Banking System Bailout | ZeroHedge
ZeroHedge - On a long enough timeline, the survival rate for everyone drops to zero
I predict this is exactly what they'll do. Will the House have the votes to stop it? Doubtful. I think the CoC Republicans would join with Democrats to vote for it. It would like pass the senate.
Mark Cuban called on the Federal Reserve to step in and buy Silicon Valley Bank's debt 'to end the run'
The "Shark Tank" investor called on the central bank to buy the failed Silicon Vally lender's debt to stop further problems in the financial sector.www.businessinsider.com
I really hope the do not bail out this woke wreck.
www.bls.gov
