This is one of those situations where the Federal government is doing what it should be doing: protecting depositor funds, making banks pay for it and sharehold

This is one of those situations where the Federal government is doing what it should be doing: protecting depositor funds, making banks pay for it and shareholders are left out in the cold if there's nothing left over. Also, the speed with which this is happening going from SVB insolvency late last week to an asset auction today and depositor fund access tomorrow is astounding. Most of this protection comes as a result of the Dodd-Frank Act passed in 2010 in the wake of the GFC. Senate and House Republicans largely voted against the bill. Remember that. It's also worth remembering that this is a huge example of how ridiculous libertarianism and deregulation is. Another takeaway is how central authority is a feature not a bug in the financial system. Just compar ethis to FTX or any other crypto collapse.