Probably the same people who think electricity comes from the wall socket.
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Probably the same people who think electricity comes from the wall socket.
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Or that a money laundering operation involves Maytag or Whirlpool.
People’s understanding of how banks work is kind of scary.
Nor do they understand the differences between the types of banks. There are Community Banks, Mutual Banks, Credit Unions, Commercial Banks, Retail Banks, and Investment Banks. Then you toss in the Financial Center and Insurance banks. There are Federally chartered banks and state chartered banks.
Comparing SVB to the community bank on the corner is comparing the corner diner to A Michelin Star Rated Restaurant. They both provide a service, but for different clientele in different ways. Neither is better than the other.