Yellen rules out bailout for Silicon Valley Bank March 12...Oops!

https://www.youtube.com/watch?v=vSZcPvp7NVU

Good thing we didn't bail them out.

Hey, wait a minute. 🙄

They must be too systemically woke to fail. Privatize the gains, socialize the losses as usual.

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Ynotisay · M

I'm not sure you watched the clip. Or or aware of the steps that were taken. Or understand what government backed assets means. Maybe you're just hoping that innocent people and companies lose everything. Or you're just not too up to speed on this stuff. That would be my guess. Doesn't seem to get in the way of those who are hoping for failure. You know, the "Patriot's" lane.

irishmolly72 · 56-60, F

@Ynotisay Government backed to $250,000. Oppps I mean unlimited government bailout. 😝

Ynotisay · M

@irishmolly72 In case you're looking for a clue on how this works, this might narrow it down a bit. But I'm sure that's not the case. Impotent, America-hating whiners gonna' whine.

Silicon Valley Bank was shut down by California regulators on Friday after depositors rushed to withdraw funds amid concerns about the bank's balance sheet. The (FDIC) was appointed receiver and created the Deposit Insurance National Bank of Santa Clara, to which all insured deposits of Silicon Valley Bank were transferred.

irishmolly72 · 56-60, F

@Ynotisay Actually, all depositors will be made whole. It's moral hazard run amok. American banking is slowly being nationalized.