Well..lessee--all the depositors money is safe, so there's that. Oh, and after an extensive web crawl, I found nothing to indicate that this is the beginning of anything.
www.axios.com
Not the same issue:
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www.reuters.com
You did an "extensive web crawl" in the 8 minutes between the OP's post and your response? STFU, clown.
thank you for caring enough to research lol "protest" and "Strike" are synonymsNot the same issue:
Lebanese banks to resume strike on March 14
Lebanon's commercial banks said on Thursday they would resume their open-ended strike on March 14, citing "arbitrary judicial decisions" that had drained their foreign currency reserves.
Nope....in the 2 or so hours since I got the news on my feed, you ignorant tool~
I wonder where the FDIC gets it's money...Well..lessee--all the depositors money is safe, so there's that. Oh, and after an extensive web crawl, I found nothing to indicate that this is the beginning of anything.
So, your opinion is noted..as is the fact that it is not shared by anyone in the industry.
SVP screwed up, simple as that. The US has stepped in and the FDIC is doing its job. The sky is NOT falling~
From the OP link:
According to press releases from regulators, the California Department of Financial Protection and Innovation closed SVB and named the FDIC as the receiver. The FDIC in turn has created the Deposit Insurance National Bank of Santa Clara, which now holds the insured deposits from SVB.
- The FDIC said in the announcement that insured depositors will have access to their deposits no later than Monday morning.
- SVB's branch offices will also reopen at that time, under the control of the regulator.
- The FDIC's standard insurance covers up to $250,000 per depositor, per bank, for each account ownership category.
The FDIC said in the announcement that insured depositors will have access to their deposits no later than Monday morning. SVB's branch offices will also reopen at that time, under the control of the regulator.
According to the press release, SVB's official checks will continue to clear.
The FDIC's standard insurance covers up to $250,000 per depositor, per bank, for each account ownership category. It is unclear exactly how larger accounts or credit lines for companies will be impacted by the closure. The FDIC said it will pay uninsured depositors an advanced dividend within the next week.
Silicon Valley's burning bank
The bank's failure would be the biggest since Washington Mutual.
Let it fail
Nope...if you were to read the link..the very last sentence addresses that issue by stating that there would be a dividend, for those larger accounts. yeah...might be some losses amongst the whales, so what? The little guy is protected, so it's OK with me if some wannabe big shots take a hit
No..they're not. While a strike may be a protest..not all protests are strikes~
semantics
You got exposed as the useful idiot you are, clown. That's why people thank my posts and laugh at you.
From the OP link-this would lead one to believe that losses will be minimal..at least to the depositors:
It's a mistake to assume that everyone is as stupid and out of touch as you are..and those who thank your posts are just as stupid. I don't get my news from USMB posts..thank God!
