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> The official also said the steps didn’t constitute a bailout, as equity and bondholders of SVB and Signature would be wiped out. Tell me you didn't read the
by twisteriffic 4y ago
> The official also said the steps didn’t constitute a bailout, as equity and bondholders of SVB and Signature would be wiped out.
Tell me you didn't read the article without telling me you didn't read the article.
- hartator 4y agoIf you have to pay more taxes because of this, it’s a bailout.
- nickthegreek 4y agoYou don't have to pay more taxes because of this.
- fein 4y agoyet.
- dmm 4y agoRight, it's going to be funded as a fee against banks, which will be passed on to bank customers aka taxpayers.
- PierceJoy 4y agoYou will lose far far more if the public loses faith in banks. Not wanting depositors to get backstopped is cutting off your nose to spite your face.
- ahelwer 4y agoNobody in "the public" is losing faith in banks. FDIC covers everybody up to $250k. If you have more money than that and can't be arsed to split it up into multiple accounts that's on you.
- dmm 4y ago> You will lose far far more if the public loses faith in banks Maybe so. But I think we should be honest about what this is: a bailout of the banking industry.
- epvgwwqe 4y agoDo you know the definition of a government tax?
- adad95 4y agohttps://finance.yahoo.com/news/yellen-says-no-federal-bailout-131152188.html https://finance.yahoo.com/news/yellen-says-no-federal-bailou... "In a separate announcement, the Fed late Sunday announced an expansive emergency lending program that's intended to prevent a wave of bank runs that would threaten the stability of the banking system and the economy as a whole." "The Treasury has set aside $25 billion to offset any losses incurred under the Fed’s emergency lending facility." If it looks like a duck, swims like a duck, and quacks like a duck, then it probably is a duck.