[jzb]

You realize that the "sophisticated actors" here are by and large employers, right? Depending on how much and how fast they get their money back, it isn't just those folks who are going to pay the price. It's the people employed by them who will suffer first, and their spouses and kids (assuming they have them).

This "they should have known better" narrative is garbage. Companies have no choice but to park money in amounts greater than $250K. Some of the companies with SVB (as I understand it) were required to bank with them. There's also the fact that SVB might well have been fine if not for the Thiel-induced run on the bank.

But even if I bought into the idea that primary depositors were at fault, I'm not keen to see all the collateral damage that's going to come out of this and hit workers and their families.