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Wow, the government acted incredibly swiftly and decisively to crush the possibility of a general bank panic. The current US banking system is very different fr
by zenmacro 4y ago
Wow, the government acted incredibly swiftly and decisively to crush the possibility of a general bank panic. The current US banking system is very different from the 2008 system.
- delfinom 4y agoBecause SVB was an actual bank with deposits that is FDIC insured. This is their job and they always acted timely in any situation, even before 2008. Bear Stearns in 2008 was an investment bank, they were not hawking FDIC insured accounts.
- bigbillheck 4y agoThere were a whole lot more banks that failed in 2008 beyond Bear Stearns.
- chasd00 4y agowell they got a finger in the dam leak at least. The question is, is it the only leak or are other cracks going to appear with more leaks?
- rrmm 4y agoFrom what I recall of the last set of bank failures this is pretty much the FDIC's SOP. They swoop in on Friday with little notice, close the bank, work through the weekend and open up for business on Monday. It apparently made for some interesting work environments.
- yieldcrv 4y ago!remindme 2 months
- MrMan 4y agoyour last sentence is demonstrably false!
- calgarymicro 4y agoWhat? No it's not. Love it or hate it (and I lean towards the former), Dodd-Frank has greatly changed American banking.