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.
FDIC makes it clear that people that need to get paid, will get paid, even startups that had approved lines of credit with #SVB prior to the VC-led bank run:
"When the FDIC is appointed receiver, it immediately begins analyzing loans that require special attention, such as unfunded and partially funded lines of credit, and construction and development loans."
The money is there. The profits for the bigoted billionaires are gone. That's why they're demanding a bailout.
https://www.fdic.gov/resources/resolutions/bank-failures/failed-bank-list/borrowers/
FDIC makes it clear that people that need to get paid, will get paid, even startups that had approved lines of credit with #SVB prior to the VC-led bank run:
"When the FDIC is appointed receiver, it immediately begins analyzing loans that require special attention, such as unfunded and partially funded lines of credit, and construction and development loans."