There is a moral problem with the bailout and we learned NOTHING from the 2008 housing crisis. Our kids should NEVER have to pay for something like this and if they did they should strip every single penny to the point of bankruptcy for every bank executive because they made bad decisions chasing their “bonuses”. The American banksters have privatized bonuses and stock options and they have shifted all risks to the taxpayer. Neat trick.
Bailing this out is BS. I am even hearing that we will lose our “tech startups” as an excuse? Seriously? If this were the case we should just put every kid in tech at MIT on government scholarship......
However, here is the biggest problem that few are talking about.... IF we bail this bank out (16th largest in country with enormous cash flow) be prepared to bail out dozens of other banks across the country who don’t have nearly the cash flow that SVB did. The truth is that SVB is not the only bank that made poor decisions and got caught short by the Bidenflation.... many of them did.
We never learn and we will never learn until people are forced to live with the consequences of poor decisions.
I agree with you 100%
I forgot to add, think about the contrast SVB and Silicon Valley gets bailed out but the citizens of East Palestine get nothing, one of the wealthiest areas gets made whole and one of the poorest gets nothing