Maybe... just maybe... if a single bank failing can cause the American people to lose faith in the banking system, there's something wrong with the banking system?

#SVB #SVIB #Bank #America

#SiliconValleyBank Used Former McCarthy Staffers to Weaken Regulations, Lobby #FDIC
Two senior aides to House Speaker #KevinMcCarthy were among the top #lobbyists for the bank at the center of a new #financialcrisis
https://theintercept.com/2023/03/11/silicon-valley-bank-used-former-mccarthy-staffers-to-weaken-regulations-lobby-fdic/
#revolvingdoor #SVB #SVIB #Bankcollapse

Short version of the statement

- All #SVB depositors will be made whole. Shareholders of #SVIB and certain unsecured debtholders will not be protected.

- All #SVB depositors will be able to access 100% of their money on Monday.

- #SignatureBank of NY has also been closed and will be handled similarly

- Taxpayers will not pay for a bailout. Any losses to the FDIC insurance fund will be made up by a special assessment on all US banks.

(more)

#SVIB Geklaut von: https://nitter.privacydev.net/NickatFP/status/1634943045014810625#m

privatize profits. socialize losses. 'free market' capitalism got jokes. #svb #svib

#2008 #SVIB

The #SVIB debacle is just the tip of the iceberg. The Fed is behind the curve and there will be more #collapse come.

Remember, collapse is not a single event. It's a process.

Das einzige was das ganze noch witziger machen würde wäre wenn Twitter auch sein Geld bei #SVIB geparkt hätte