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Reply to "SVB Bank Run: Fed Calling Emergency Meeting "
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[quote=Anonymous][quote=Anonymous][quote=Anonymous][twitter]https://twitter.com/TheChiefNerd/status/1634931334631292928[/twitter] Yellen has said no bailouts. Tomorrow should be fun. [/quote] A bailout is different than making sure depositors are made whole. They're arranging for another bank to take it over - final bids to the FDIC are due this afternoon. https://www.bloomberg.com/news/articles/2023-03-12/fdic-auction-for-svb-said-to-be-underway-final-bids-due-sunday[/quote] Can't read - paywall. Are they selling the assets to pay the depositors? Or are they selling the bank, including its risk, and potentially creating another bank at risk of a run/collapse? And what dumb bank would buy that?[/quote]
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