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Comments (41)
*The banking system is so solid, that we have to prop it up.*
LOL
How are they guarantee no losses of funds for those who bank with SVB and also saying that the cost associated with this won’t be borne by tax payer? I guess who is bearing the cost?
“Any losses to the Deposit Insurance Fund to support uninsured depositors will be recovered by a special assessment on banks, as required by law.”
Who do you think the banks will pass this special assessment onto in one way or another?
Ok wait so ppl with accts we’re screwed over by SVB, they will get all their money after the weekend. And I’m still waiting to get some low ass % of my voyager funds…
Wtf
Privatized the profits, socialized the losses.
This should be added to a bitcoin block!
https://www.federalreserve.gov/newsevents/pressreleases/monetary20230312b.htm
“Not costing the tax payers” means the Fed printing more money and causing more inflation.
“It’s not a bailout”…. It’s a bailout
This is actually not the argument for bitcoin you are hoping it is. Bank has more assets than deposits owed. Regulators are stepping in to contain risk.
Who is paying? If not the taxpayers..
Oh yeah, bailing out taxpayers with taxpayers money. Where’s the accountability???
We’re not actually strengthening the system just your confidence in it!
The US bank system is so solid that it need to be rescued. What a bunch !!! Can somebody tell them that this is stupid!!!!
Now read it in Darth Sideous’ voice after him electrocuting himself
As someone from a country where we read abbreviations more like words than letter by letter, I’m convinced they’re trolling you guys, just look at some of these names: FDIC (f-dic?) FATF (fat-f?)
It’s to late Nzbitcoin will be the only currency and it’s happening faster than what they let on it u wanna be saved go here. #bitcoin.org
Printing money will devalue
the poor people that working hard to earn money
Amen!
I knew she was lying last week. All of them fucking liars
This is about as futile as making the geocentric model of the universe make sense.
It’s literally the little boy sticking his finger in the dike.
OK so if I’m understanding correctly, the FDIC’s DIF is going to bail out the bank to save the customers and all other FDIC insured institutions (banks, etc) will have to pay a fee **based on their risk profile** to cover the **losses to DIF. So if FDIC insured institutions are footing the bill for this financial travesty, and you are their customer – bingo! You guessed it, they are currently making new bags for you to hold!**
So the FDIC insures up to 250k, except for just this one time? Why do our institutions have rules if they bend them?
I truly cant believe this, i literally have no words. Just a perspective from Europe – i have just watched news and well ” the recent financial turmoil from US wont have any or very limited effect on the EU financial market “. You now how how many times I have heard this in my life. This IS THE THIRD TIME and i’m f…. 39. 2000, 2008 and now. This whole situation makes literally want to cry. I just can’t… this fills me with so much sadness we have another recession coming. Honestly is it possible to be tired at 38 i just can’t anymore. Unbelievable. It is literally the same script just copy and paste. F… Man i just want to live my life without having to deal with an existential crysis every couple of years.
Fuck. svb went belly up… what the fuck are we going to do, alot of people just lost everything. Given we live in a capitalistic society, I think we should let it take its course… PRINT ALL LOST MONEY AND GIVE IT BACK TO THEM… wait but won’t that take from everyone else who owns USD and devalue their money? TF, can someone throw this bloke out a window, he’s making us look bad
They are positioning to look more in control than they actually are. The money printer button always gets pushed, just a matter of time.
It will be paid by everyone holding a bank account. Because it is paid by this fund funded with banks’ premiums, that they will simply end up passing on to clients.
But for politicians it looks good to say ‘don’t worry as taxpayer’.
meanwhile this government has sent how many billions to Ukraine and many other countries? Blows my mind
*”The U.S. banking system remains resilient and on a solid foundation”*
HAHAHA
This is a moment in history. This is literally a perma blanket bail in deal to cover funny money problems and maintain that confidence in USD ‘no matter what.
If this flag doesn’t hit ya in head, not much will.
So, everytime someone looses another one wins. I wonder how many shareholder of SVB won because they invested also on the other side of the transaction. Now the bailout comes and the win on both sides.
They didnt tell you that the head of risk management was a diversity hire that didn’t do her job for 9 months while all the silicon valley companies were doing mass layoffs
“Remains resilient?????!!!!!” – the fuck kinda crack you smoking. The very existence of the whole letter is to the contrary of that statement. Fix your shit!
BRRRRRRRRRRRRRRRRRRRRRR!
This coinbase message is as relevant as ever.
https://www.blockchain.com/explorer/blocks/btc/0
How does the government make depositors whole without burdening the taxpayers?
They now, world is watching. Banks cannot do the same as ftx, so they will step in to see that money gets delivered. At what cost tho…
Be your own bank.
“no losses will be born **directly** by the tax payer”.
There, fixed it!
uh its litterly the taxpayer insuring FDIC insurance deposits so the whole “no losses will be borne by the taxpayer” is of course false
Bail outs and money printer go brrrr