Agree on SVB. But the bailout that people are complaining about is for all the other banks that aren't SVB. There are many insolvent banks out there that woul

Agree on SVB. But the bailout that people are complaining about is for all the other banks that aren't SVB. There are many insolvent banks out there that would otherwise have had to raise capital at punishment prices this year. Those banks are unambiguously better off with the Fed taking their underwater collateral at par, and this is a clear subsidy to (non-SVB) bank shareholders.