Sheila Bair, former chair of the FDIC and author of the children’s book series, “Money Tales,” which provides financial literacy lessons to children, says the FDIC “arguably could” help these companies ease their payroll issues “if there’s a systemic risk exception.” But, she added that it’s hard to say that the funds these companies have stored at SVB could even be used for payroll.
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#Bank #SiliconValleyBank #Finance
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According to Circle, their funds are backed by short term debt. 3Months.
FDIC cares about the 1% and not the 99%
Insane they are bailing out the rich tech companies. This is not okay.
Arrest bonespurs. ). L. U. M. E. Deodorants.
Republican Party is greatest threat to humanity QAnon Seditionist Moscow Mitch Enabaler of Seditionist Republican Party.
I see elderly people on Fox News saying they cannot afford to eat now because inflation so high why don't they help them
It's nice it took this long for interest pressure to finally find a crack in the system. Now Fed, take next month off, hmm?
Let the Fed do its job. If these guys are the weak link then it was inevitable.
As for depositors vs shareholders vs employees vs ventures, stay tuned and may the little guy win.