The FDIC is going to be facing a bunch of bank failures in a hurry—they may want to pay the uninsured but at the end of the day they may have to go to Congress to get the extra money they need to do it.
Insured depositors are their highest priority.
I agree with all that, but this woke bank may well get in under the wire and fully pay off the DNC Donors...it will be the later banks, the ones that serve Trump Country that get hit with the limits.
“Insured depositors are their highest priority.”
SVB is mainly a business bank. I don’t know what fraction of their business (if any) is consumers.
LOTS of tech companies are not going to make their payroll to employees. If it goes on very long, employees lose confidence and leave. Then companies shut down and lay off the remaining employees. This could lead to the massive collapse of lots of small and medium size firms. Preventing that will be the highest priority.