I can’t imagine the richest of the rich were parking any significant chunk of their money as a depositor in SVB. These people have access to far greater divers

I can’t imagine the richest of the rich were parking any significant chunk of their money as a depositor in SVB. These people have access to far greater diversity of investments than whatever SVB was offering. I can understand the anger and frustration that many people feel — we don’t live in a true meritocracy. But I don’t understand the opinion that choosing a particular bank to open a checking account is equivalent to gambling. It seems perfectly rational for depositors to access their funds and wipe out SVB’s equity and debt holders. Not doing so would reward those that withdrew early, caused a panic, started a bank run, and potentially tanking the equity offering in the works. It would be very interesting to see the SEC go after some of them for market manipulation and insider trading.