3 ms·
The profits from tech are available to investors via the stock market. Meanwhile, no taxpayer money is being used to clean up the failure of SVB and prevent the
by twblalock 4y ago
The profits from tech are available to investors via the stock market. Meanwhile, no taxpayer money is being used to clean up the failure of SVB and prevent the contagion from spreading.
- deleted 4y ago[deleted]
- dsm4ck 4y agowhere is the money coming from if not taxpayers?
- twblalock 4y agoThe FDIC does not get a penny of taxpayer money. Member banks pay for it. Member banks also pay for the Fed.
- brightlancer 4y agoMember banks pay for it _by law_. And those member banks get that money either by charging customers for it or by reducing what they provide in returns on investment. It may not be coming from income taxes, but it's definitely socializing the losses and I would argue it's effectively coming from the taxpayers.