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by steveBK123
1198 days ago
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Most banks the vast majority 60-70% of depositors are insured. SVB was under 10%
They were super concentrated in one industry, their depositors themselves were super concentrated with their deposits and they were poorly run. They’ll be open in some capacity Monday but the idea that big rich uninsured depositors should be made whole because of vibes is silly. They have a $10Bish hole. TBD how this plays out. |
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