Reading this post makes me realize one thing: The true insurance on funds above 250k for those who were banking with SVB has always been living and working in

Reading this post makes me realize one thing: The true insurance on funds above 250k for those who were banking with SVB has always been living and working in Silicon Valley. Even if FDIC had decided not to intervene there were at least 2 dozens private players ready to fit the bill. It would have been OP consortium at 95%, or the Hedge Funds at 70%, or JPMorgan at 67% or Wells Fargo at 65%. A regional bank blows up in Mississipi or an Agricultural Bank in Iowa and nobody gives a shit. Public or private , everything above 250k is wiped out. And many millionaires are having a relief because they got 100% via FDIC as opposed to 95% from OP coalition or 70% from the Hedge Funds.