Looks like Harry and Megan, and the rest get to keep their SVB money. FDIC/FED stepping in
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Posted by: robertb ®

03/12/2023, 20:34:43
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All deposits covered.
"Depositors will have access to all of their money starting Monday, March 13. No losses associated with the resolution of Silicon Valley Bank will be borne by the taxpayer."








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Looks like they got a buyer. Presumably, only the shareholders lose.
Re: Looks like Harry and Megan, and the rest get to keep their SVB money. FDIC/FED stepping in -- robertb Post Reply Top of thread Forum
Posted by: Russ Walden ®

03/12/2023, 21:39:17
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I doubt the taxpayers will be relieved of the burden.
Re: Looks like Harry and Megan, and the rest get to keep their SVB money. FDIC/FED stepping in -- robertb Post Reply Top of thread Forum
Posted by: Ihavenoname ®

03/12/2023, 20:44:25
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Not to sound clueless, but who will cover the losses?

I won't take official statements at face value.







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Supposed to be a special fee on all banks to cover it. Probably cause bank stocks to drop a bit more, so investors are the ones to take the hit.
Re: I doubt the taxpayers will be relieved of the burden. -- Ihavenoname Post Reply Top of thread Forum
Posted by: robertb ®

03/12/2023, 21:23:09
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Excerpt from newsrelease
Re: Supposed to be a special fee on all banks to cover it. Probably cause bank stocks to drop a bit more, so investors are the ones to take the hit. -- robertb Post Reply Top of thread Forum
Posted by: Russ Walden ®

03/13/2023, 09:15:34
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Shareholders and certain unsecured debtholders will not be protected. Senior management has also been removed. Any losses to the Deposit Insurance Fund to support uninsured depositors will be recovered by a special assessment on banks, as required by law.








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