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> what banks do eBay, Shopify, OfferUp, Facebook Marketplace, and Stripe use? This is why depositors need to be made whole quickly. You don't want a situation
by dehrmann 4y ago
> what banks do eBay, Shopify, OfferUp, Facebook Marketplace, and Stripe use?
This is why depositors need to be made whole quickly. You don't want a situation where everyone has to ask what banks some company puts its money in.
- thephyber 4y ago> You don't want a situation where everyone has to ask what banks some company puts its money in. Here’s the scary thing: even if the answer was another bank, the average person wouldn’t know if that bank was just as weak as SVB. If people think SVB is contagious for their vendor, that’s one problem. If they start to see every bank as a potential SVB next week, that’s a whole different problem for the entire economy.
- simple-thoughts 4y agoThis is par for the course for Etsy, their business operations have been consistently poor. They need to take the brand hit from not conducting due diligence properly. That said it seems in Etsy case they are competent enough that the payments will be delayed not stopped. You cannot just bail out every bank that fails, or the financial ecosystem will break down. Companies need to evaluate their partners not just trust the government to care for them.