[Captain Peter Blood]

There wasn’t a bailout, they sold off all the assets to repay the bank depositors including those that had over the $250,000 limit. this was discussed and detailed when SVB was closed.

[Night Hides Not]

Apparently the FDIC is ramping up hiring for a looming bank crisis. FDIC contractors have a deadline of June 30 to produce lists of qualified personnel.

I haven’t been contacted, but people I worked with 10 years ago have been. Pay rates quoted are $48 an hour, equivalent to a GS-13.

[Freest Republican]

the FED insured and paid the balances before they collected a penny from any sale of assets.

contrasted to the S&L crisis when the nation learned that FDIC investigated and paid out much later unlike SIPC that pays immediately to the limit then investigates.

[Drago]

The SVB assets did not cover their obligations (the reason it went under)...the sale of all the assets came up $20 billion short of what the FDIC had to pay out to depositors over $250K....therefore a “bailout” for those (over $250K) depositors.

See 6th paragraph:

https://www.fdic.gov/news/press-releases/2023/pr23023.html

[jacob allen]

For those with over $250,000.
Biden, “Third, investors in the banks will not to protected, they knowing took a risk and when that risk didn’t pay off, investors lose their money, that’s how capitalism works.” Looks like Biden bailed out the Rich Democrat Capitalists.