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Reply to "SVB Bank Run: Fed Calling Emergency Meeting "
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[quote=Anonymous][quote=Anonymous]If you're a big contributor (like Sequoia) to Democrats and never Trumpers, the bailout is a no brainer. This was accidentally released from the FDIC in a FOIA request [twitter]https://twitter.com/profstonge/status/1672225355212419074?t=xNqZI33dJTsUkbSiK_Cejg&s=19[/twitter][/quote] Who cares? This wasn’t a consideration at all in guaranteeing the deposits. The bigger issue was that SVB held thousands of transaction accounts for small and medium businesses. Plus fintech firms that service B2B. Without the guarantee, tens of thousands of companies would not make payroll the next week or pay their vendors. The cascading effects would’ve been catastrophic.[/quote]
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