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The "thousands of small tech startups" would have gotten $250,000 immediately so they could make payroll, the majority of their holdings back in a week, and 95-
by mehlmao 3y ago
The "thousands of small tech startups" would have gotten $250,000 immediately so they could make payroll, the majority of their holdings back in a week, and 95-98% of their money back in a month under normal FDIC operation. There was no need to bail out giant companies with no risk management like Roku and the venture capitalists who sparked the bank run.
- muzz 3y agoIt would have been even quicker than that-- a large portion of the uninsured deposits would have been available on Monday March 13 ie _the next business day_ after the bank was seized: https://www.bloomberg.com/news/articles/2023-03-11/fdic-races-to-start-returning-some-uninsured-svb-deposits-monday https://www.bloomberg.com/news/articles/2023-03-11/fdic-race...