As I warned about in yesterday's posts to this thread:
✅ faux empathetic framing
✅ quotes from clout-chasing useful idiots with fancy sounding titles
✅ Bailouts for billionaires
Every. Fucking. Time.
https://www.washingtonpost.com/us-policy/2023/03/11/silicon-valley-bank-bailout-washington/
Let's be clear: the #SVB money is there. It's in government bonds and other illiquid assets that will be sold (at a loss) but the money is there. On Monday, the U.S. government will make it possible for each customer to withdraw up to $250K.
Those pushing to "make all depositors whole" are angling for a billionaire bailout. That's who stands to lose as the FDIC sells the bank's assets.
The money is there.
The money is there.
The money is there.