I don’t think it’s remotely plausible that uninsured SVB deposited are just gone, $0 on the dollar. Absolute worst case, they might have lost 10%, or $330m, so

I don’t think it’s remotely plausible that uninsured SVB deposited are just gone, $0 on the dollar. Absolute worst case, they might have lost 10%, or $330m, so .99175. It’s not like SVB was a Madoff scheme and the money is gone; it became insolvent because the current value of its investment vehicles couldn’t support 100% withdrawals.