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What does it mean "Depositors will have access to all of their money starting Monday, March 13. No losses associated with the resolution of Silicon Valley Bank
by dcow 4y ago
What does it mean "Depositors will have access to all of their money starting Monday, March 13. No losses associated with the resolution of Silicon Valley Bank will be borne by the taxpayer."?
How is the taxpayer not bearing the losses? Did the gov't just make a special exception to release the treasury bonds SVB has in order to provide the missing liquidity? What exactly is happening?
- campbel 4y agoYeah this all stinks. I think they are playing games with words. The US taxpayer was the beneficiary of those cheap bonds, so releasing them early IS the taxpayer footing the bill.
- dcow 4y agoWell, not if the FDIC holds the bonds and floats the cash. I just wish the statement had more details.