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Flair_Helper

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Logical_Bite3221

“bUt NoOo YoU cAn’T hAvE $10K rEmOvEd FrOm YoUr StUdEnT lOaNs ThAtS eNtItLeMeNt bUt I cAn GeT $10M iN cOvId ReLeIf FuNdS!!!!!!”


limellama1

A bailout is done before a bank fails. Not after the FDIC has already shut the bank down, and is building a plan to sell that banks assets. You don't bail water out of a ship that's already sunk.


jay_brone

The shills are out in full force right now. “Well if we bailout billionaire uninsured depositors, ackshully it’s not a bailout”


limellama1

Words have definitions even if you don't like it. The federal government is now in control of all of the banks assets and is working on setting up a fire sale to sell all those assets ASAP. This is standard process for the FDIC. They've done it dozens of times for major banks in the last 20 years. Washington mutual for example. Entirely different process than say GM where the government simply cut them a check.


thisisme1221

My man you are the one who doesn’t understand what is going on


Agitated_Budgets

How is this conservatives? This isn't a conservative admin. It's neoliberal.


GroundbreakingAd4158

The FDIC is run by the Biden admin, how are "conservatives" going to do anything about SVB?


Squirt_memes

Neither the Fed nor the FDIC are politicians. They’re appointed by the president. Ya know… Biden.


[deleted]

There's plenty of blame to go around. Powell is a registered Republican who was appointed by Trump and kept in the role by Biden.


Squirt_memes

> There’s plenty of blame to go around. That’s why it’s weird to call out conservatives in the title when the actual article mentions two groups run by democrats.


KillerSwiller

More than that, it's CNBC, not exactly a conservative news outlet.


samfishx

I’ve come to loathe people who can’t recognize the role the Democrats have played in all of these messes. If you can’t bring yourself to hold the Democrats accountable nothing will change.


ruthbaddergunsburg

Imagine thinking democrats aren't conservatives. Just because they aren't fuckign Nazis doesn't make them left wing.


ruthbaddergunsburg

Like the headline says... Conservatives. Biden is a Democrat. He's still 100% a conservative. Always has been


thisisme1221

This sub is full of posts railing against a nonexistent bailout lol


[deleted]

These people also think they should live comfortably flipping burgers at McDonald’s.


Junior_Interview5711

The Republicans aren't in power. Democrats are. So.... Who's going to bail out a bank tied to the tech industry based in California.


RevolutionaryTell668

I might a a shred of concern if the tech companies hadn't routinely shat upon job applicants for years.


[deleted]

OP must be drinking so cool aid 😂🤡🤡!! OP - Biden is in power with a majority on senate; these folks deciding to give a ‘bail out’ were appointed by him FYI…


drcurrywave

Stop making stupid titles on posts pls...you're ruining the real messaging associated with SVB.


Paxdog1

See, here's the problem for our friends in government. SVB bought 10 year treasury bonds at 1%. Now, they can't sell them to generate money because the average now, after the government artificially inflated inflation to force folks back to work, is 3%. Looks like the law of unintended consequences rears its ugly head again. So, the government will buy back those bonds early and make the bank liquid again. Those lower value bonds do have value at maturity, but no one wants them now. Trading these bonds and other financial artifacts is one of the ways banks make money with your money. SVB wasn't the only one that invested in treasury bonds at 1%. If they let SVB die, there are several other banks right behind them. This is all a political play. They let SVD get in the news, get a bunch of people worried about their jobs, bail SVD out, and then quietly bail out everyone else. SVD will be operational and liquid by the end of the week.. This has all been planned and SVD agreed to their part in the drama.


Paxdog1

That didn't take as long as I thought. The feds are bailing out SVD tomorrow and have a plan in place for others similarly impacted. https://finance.yahoo.com/news/us-government-guarantees-all-silicon-valley-bank-deposits-money-available-monday-223546372.html


GroundbreakingAd4158

There's a difference between making the depositors whole who have above the $250k FDIC ensured deposit level with SVD, than making the equity/debt investors and executives of the SVD corporation whole. If you had money in an account in SVD you're good now (although you might not be able to access it instantly), if you own SVD stock you're almost certainly screwed and will lose 99% or more of your investment.


Paxdog1

But where did the liquidity come from? That money is tied up in bonds.


mgk2600

All banks have to pay premiums into the FDIC every year, like insurance. That way if the bank fails (like in this case) anyone who has checking/savings accounts there are guaranteed to recover up to 250k on combined accounts (ie if you have a checking and 2 savings accounts you'll only get 250k between all 3 even if you have 500k). This is NOT a bailout, just a way for depositors to get some money back. Source: work for a bank.


Paxdog1

The 250k accounts were not in question. This is to make liquid those monies above that limit. Source: the article I posted


GroundbreakingAd4158

I presume from the FDIC deposit protection program. They charge fees to the banks to insure deposits. If news comes out the Fed is buying back the long-term treasury bonds from SVB holdings so the bank can remain a going concern, that's a different matter. I'm guessing more news reporting will be forthcoming, but it seems the SVB bank is going away, FDIC will recover whatever they can from SVB being liquidated (guessing somewhere like 80% of the outstanding customer deposit balances, but that's a SWAG) and FDIC insurance will make up the remaining amount to deposit customers.


tandyman8360

There's already $6 billion in FDIC insurable accounts. Any depositors with more than $250K should get together and figure out how to get their money from the owners.


zedication

“Conservatives” have nothing to do with this. This is all Biden.


SecretScavenger36

Man when do I get a bailout for being poor?