Will FDIC Step In At SV Bank?

[Dee]

Since the government has wisely decided to NOT bailout Silicone Valley Bank, will FDIC fulfill bank depositors getting their money back, or will another bank buy'em out?

[oldandslow]

Isn't being insured by FDIC a requirement for banks?

[wtxbadger]

https://www.breitbart.com/economy/2023/03/12/banking-backstop/

Looks like the Fed and Uncle Joe are trying to avert a total meltdown but the question is will investors buy in? Tomorrows market will be interesting to watch.

In this article the gov claims that the taxpayers won't be paying for covering the bailout of depositors at SVB? They must have a magic money tree out back of the whitehouse.

[ironglow]

   According to Newsmax this morning, FDIC will cover up to $250K per depositor.

[oldandslow]

.
So what happens if you have 1 million in a bank?

The FDIC (Federal Deposit Insurance Corporation) is an independent agency of the United States government that protects bank depositors against the loss of their insured deposits in the event that an FDIC-insured member bank or savings association fails. The FDIÇ has funds on hand to cover 0.3% of American' deposits.
0.3%. !
.
[/quote]

Simple answer is to divide it up at four banks.

[Dee]

.
So what happens if you have 1 million in a bank?

The FDIC (Federal Deposit Insurance Corporation) is an independent agency of the United States government that protects bank depositors against the loss of their insured deposits in the event that an FDIC-insured member bank or savings association fails. The FDIÇ has funds on hand to cover 0.3% of American' deposits.
0.3%. !
.

Simple answer is to divide it up at four banks.
[/quote]

There has always been a limit to what each bank insures through FDIC and most banks won't won't allow deposits over that amount.

[JBinMN]

How nice. < /sarc
The bank employees got their bonuses just hours before the bank failed.
( Bonuses,.... for failing?)
along with some of the bank higher ups cashing in their bank stocks in the last couple weeks or so.
How convenient that is/was...
https://www.businessinsider.com/silicon-valley-bank-workers-paid-bonuses-hours-before-collapsed-report-2023-3

and it was not known about ahead of time. Gimme a break... Sure it was.
THEY knew it was coming.

Just more crap to hurt the USA & cause economic grief to a whole lot of folks. Part of the lefty/commie playbook.

[Dee]

How nice. < /sarc
The bank employees got their bonuses just hours before the bank failed.
( Bonuses,.... for failing?)
along with some of the bank higher ups cashing in their bank stocks in the last couple weeks or so.
How convenient that is/was...
https://www.businessinsider.com/silicon-valley-bank-workers-paid-bonuses-hours-before-collapsed-report-2023-3

and it was not known about ahead of time. Gimme a break... Sure it was.
THEY knew it was coming.

Just more crap to hurt the USA & cause economic grief to a whole lot of folks. Part of the lefty/commie playbook.

Pretty much. 

[Mule 11]

How nice. < /sarc
The bank employees got their bonuses just hours before the bank failed.
( Bonuses,.... for failing?)
along with some of the bank higher ups cashing in their bank stocks in the last couple weeks or so.
How convenient that is/was...
https://www.businessinsider.com/silicon-valley-bank-workers-paid-bonuses-hours-before-collapsed-report-2023-3

and it was not known about ahead of time. Gimme a break... Sure it was.
THEY knew it was coming.

Just more crap to hurt the USA & cause economic grief to a whole lot of folks. Part of the lefty/commie playbook.

Learning from pelosi on insider knowledge no doubt.

[gypsyman]

Since bank customers and shareholders were thrown under the bus, and no doubt a whole bunch where liberals. Wonder if they might just change their attitude about being part of the woke crowd?

[Dee]

Since bank customers and shareholders were thrown under the bus, and no doubt a whole bunch where liberals. Wonder if they might just change their attitude about being part of the woke crowd?

Good grief! Have you not been paying attention? Trump caused this. 

[JBinMN]

I posted this in another comment, but it applies here in this topic as well:


This blaming of the previous Trump Admin for such things is the same as saying they are not doing a good enough job themselves, as well as another LIE.

Idiots.

[DDZ]

SVB bank had spent or given more than 73 million to BLM, and related groups. Banks are collapsing, and no one is criticizing what the banks have done to bring on their demise. Its the blame game where its someone or something else's fault.