The value of the dollar isn’t propped up by declaring your gonna insure trillions in deposits with money we don’t have.
This again merely rewards reckless behavior. Ackman and the rest of the investment class have been rabid about more government protections. Investors are nothing more than socialist when they are on a losing side.
I never thought I’d see the day when putting money in a bank that built its reserves on long-term U.S. Treasury bonds would be considered “reckless behavior” by any of the parties involved.
IF OPRAH really had $560 MILLION in SVB-—
WHAT bank wants to take her deposits next?????