[ConservativeInPA]

Vaporizing that much money might have had dire implications for other parts of the American financial system—and for thousands of innocent customers who believed their money to be safe within SVB’s coffers.

Tough chit. FDIC covers the little guy’s losses. That is paid for. Socializing businesses’ loses is not capitalism. There needs to be consequences borne by the stupid chits that made poor decisions. Don’t push the payroll crap either. There are multiple ways to mitigate risk of having cash above the FDIC limit of $250k. If these eff’n people focused on business instead of being woke they would know that.

[Vigilanteman]

Correct. I’m nearing retirement and do not keep more than $250K with any single entity. Yeah, it is a little inconvenient, but no more so than diversifying your stock or bond portfolio.

[Svartalfiar]

Don’t push the payroll crap either. There are multiple ways to mitigate risk of having cash above the FDIC limit of $250k. If these eff’n people focused on business instead of being woke they would know that.

If you pay your employees an average of $100M a year, that's ~$2000 a week or $4000 every two-week pay period. You just have room to pay SIXTY-FIVE employees before you hit the FDIC cap. That's a pretty sizeable company, certainly isn't some tech startup with ten people unless everyone's making a half-million a year or more.