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Yes but the depositors of SVB are almost all corporations (mostly tech startups), that can ethically be left to die, whereas individuals have rent to pay and fa
by dheera 4y ago
Yes but the depositors of SVB are almost all corporations (mostly tech startups), that can ethically be left to die, whereas individuals have rent to pay and families to feed. I can see where this sentiment comes from if their income taxes are being used to bail out corporations.
At the same time the flip side of this is that many of those startups aren't profitable and in the absence of a FDIC bailout, those startups' employees (who are typically not paid that well to begin with) may not get their next paycheck and thus it still is directly impacting individuals and families.
- sneak 4y agoCorporations are legal fictions. It's just a liability boundary. They are ultimately comprised solely of human beings.
- nemothekid 4y agoFDIC insurance does not come from taxes.
- Scoundreller 4y agoYou don’t think the fdic would get bailed out if it failed? We’ve bailed out much dumber/less worthy before.