4 ms·
> But kill a bunch of startups because of their choice of financial institution? I just don't get where that comes from. Because you want to take my money, and
by JackFr 4y ago
> But kill a bunch of startups because of their choice of financial institution? I just don't get where that comes from.
Because you want to take my money, and your justification for wanting my money is simply “My company made a mistake.”
- jtr1 4y agoHow are they taking your money?
- JackFr 4y agoFDIC receivership is not my money, it’s all self funded. Any bailout beyond that is taxpayer money. As a voter (and a guy who pays taxes) it is my money. I have a lot of opinions about how that money should be spent. A bailout beyond FDIC receivership is simply a payout to VCs. SVB’s resolution will be a solid measure of much political clout they have.
- auntienomen 4y agoIt's a noisy measure, since FDIC / Fed / Treasury are quite reasonably worried about this failure setting off a series of bank runs.
- tracer17 4y agoHow is it your money? It's not a taxpayer funded bailout, the FDIC is just going to forcibly liquidate SVB's assets and pay back customers to the extent possible with those proceeds.
- JackFr 4y agoI assumed the parent was referring to a government sponsored plan to make SVB depositors whole beyond ordinary FDIC receivership.