3 ms·
Sorry but that's not correct. SVB is dead but solvent. People will eventually get their money back.
by mertd 4y ago
Sorry but that's not correct. SVB is dead but solvent. People will eventually get their money back.
- PKop 4y ago"Eventually" You are just plain wrong that withdrawing was the wrong choice. What about those needing to make payroll or pay other expenses in the mean time? When will they get their money back? You have no idea lol The bank failed. It has been closed. It was a bank failure. Here's the official source that calls it a "failed bank" [0] [0] https://www.fdic.gov/resources/resolutions/bank-failures/failed-bank-list/silicon-valley.html https://www.fdic.gov/resources/resolutions/bank-failures/fai...
- mertd 4y agoPlease calm down with the FUD. We both agree its dead. This doesn't mean its assets vanished. It will be liquidated and the proceeds will be returned to the creditors (deposit holders). The assets are sufficient to make the depositors whole.