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Please stop using the word "bailout" to describe what the FDIC does, it isn't even close. Shareholders are wiped out in a FDIC takeover event, and if needs to b
by Analemma_ 4y ago
Please stop using the word "bailout" to describe what the FDIC does, it isn't even close. Shareholders are wiped out in a FDIC takeover event, and if needs to be additional money to make depositors whole, it comes from a fund paid for by taxes on banks. No money comes from taxpayers, and the "bad people" (bank management and shareholders) are punished just like you want.
- paulddraper 4y agoI'm referencing the article.
- AH4oFVbPT4f8 4y agoTheres a petition being pushed by Garry asking for people to sign that calls for the government to save SVB. I agree with you that FDIC is only insurance but the ask is to be saved by the taxpayers.