Deposits in excess of $250k are not insured and should not be the taxpayer’s responsibility. Let Yellen use her personal fortune to make them whole.
That’s not exactly what I’m talking about, in the case of SVB the FDIC and FED guaranteed all deposits, even those above $250,000, the precedent has been set, evidently the $250,000 limit doesn’t apply anymore, which is odd since Congress never approved anything like that.
However, what I was talking about is assets the Bank has invested in like T-Bill, Mortgages, etc...the ones that still have good value will go to the Wall Street Banks for pennies on the dollar, the others with little to no real value will go to the taxpayers, which is basically what happened with First Republic.