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> They took a 40% hit to deposits. What do you want them to do? It’s not survivable. This is just how our banking system works. You're making it sound like peo
by TacticalCoder 3y ago
> They took a 40% hit to deposits. What do you want them to do? It’s not survivable. This is just how our banking system works.
You're making it sound like people taking out their money out were those in the wrong, causing the failure of the bank.
That's not what happened. People taking their money out were in the right.
The root cause is bankers at FRB miscalculating risk. And they are those who were wrong.
- r00fus 3y agoI mean, banks are allowed to curtail the egress of funds through rules limiting the velocity of funds. I see this in some of the recent high-interest yield offerings. Of course, then the super-rich and their millions might stay away. But perhaps that's the most stable course after you have too many "over the FDIC limit" account balances.