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They only need to cover 20 billion or so for SVB? In the grand scheme of all banks, that's not a ton. SVB wasn't some FTX oops it's all gone level fraud. Ass
by piyh 4y ago
They only need to cover 20 billion or so for SVB? In the grand scheme of all banks, that's not a ton. SVB wasn't some FTX oops it's all gone level fraud.
Assuming it's a one time charge and not a contagion, it sounds like why we have government and FDIC.
- muzz 4y ago$20 Billion is roughly $60 for every person in the country It's more the state government budget for about 1/3 of the states in the union
- piyh 4y ago128 billion in the FDIC reserves as of December 2022. Better than letting more dominoes fall if you're trying to preserve that insurance pool.