Mike Masnick ✅ on Nostr: So... the summary is that for all the fear some people had that taxpayers would "bail ...
So... the summary is that for all the fear some people had that taxpayers would "bail out billionaires," and the corresponding fear that companies had that "a ton of our money could evaporate and destroy the economy with massive downstream impact"... FDIC/Treasury stepped in and did the right thing: depositors made whole, no taxpayer funds, bank assessment to make up any difference, & SVB equity/unsecured debtholders (mostly) wiped out.
A very good result.
Published at
2023-03-12 23:03:24Event JSON
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