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So every depositor will get up to $250K on Monday. Those with balances above that will get a payment of some percentage of the balance not many days after. Sou

by beezle 4y ago

So every depositor will get up to $250K on Monday. Those with balances above that will get a payment of some percentage of the balance not many days after. Sounds pretty fair and expedient to me. Shocked that no VC or group of them haven't stood up a short term bridge loan facility since it was them who triggered the chain reaction that took the bank down.

dmlittle 4y ago
> Shocked that no VC or group of them haven't stood up a short term bridge loan facility since it was them who triggered the chain reaction that took the bank down. Several groups are. They're offering anywhere between 60 to 80 cents on the dollar for the uninsured amounts. https://www.reuters.com/business/finance/hedge-funds-offering-buy-startup-deposits-stuck-silicon-valley-bank-semafor-2023-03-11/ https://www.reuters.com/business/finance/hedge-funds-offerin...
- loeg 4y ago
  That's not what a bridge loan is.
  - dmlittle 4y ago
    Right. I meant to say there are groups capitalizing on the situation
beckhin 4y ago
[flagged]
deleted 4y ago
[deleted]
bombcar 4y ago
The VCs had all their money at SVB.
dehrmann 4y ago
> Sounds pretty fair and expedient to me. The problem is we don't know what "some percentage" and "not many days" are. If you said 99% on Tuesday, no one would care. 50% in May would suck.