When SVB failed, the deposits were guaranteed at 100%, for accounts that were far beyond the $250,000 limit. The money to guarantee those deposits came from the

When SVB failed, the deposits were guaranteed at 100%, for accounts that were far beyond the $250,000 limit. The money to guarantee those deposits came from the FDIC Insurance Fund. A special assessment -- a fee -- was charged to all other banks in the entire Federal Reserve system to refill the insurance fund. The Biden administration claims that this was not a bailout because taxpayers didn't pay to cover these deposits. Technically, he's right. Instead, bank customers ultimately performed the bailout. It's just the case that 99% of American taxpayers are also Federal Reserve bank customers. So, let's go back to your "gambled and lost" argument. SVB and FRB gambled, but I lost. You lost. Your neighbor lost. That person that doesn't have a bank account and the folks that had $400M USD in their SVB accounts didn't lose. The solution to force you and I to pay higher fees to fund a not-a-bailout for SVB depositors to prevent broader contagion was the right call, but to explain it away as merely affecting a small number of executives and shareholders is a lie.