Consumer protection is part of the FDIC mission; not holding some imaginary, sacred 250k line. The 250k dollar insurance is a means to an end and not a traditio

Consumer protection is part of the FDIC mission; not holding some imaginary, sacred 250k line. The 250k dollar insurance is a means to an end and not a traditional insurance business. People are angry because (they are being convinced) somebody is getting a hand-out that isn't them and they haven't personally deemed worthy. Just like people get angry over the idea of free healthcare going to immigrants and college loan forgiveness going to.. Whoever. That's not even what's happening because the FDIC, now in control of SVBs assets, are going to use those assets to balance the books. They have the liquidity to guarantee depositors funds while they wait for the loans and bonds to reach maturity.