Getting 90 cents on the dollar is not 'massive job losses' and most people outside of tech (SV VC tech precisely) think that the bank run risk is massively overblown.
Anyway we'll see what FDIC does. They're good at what they do.
Isn’t this quite unusual (a bank run at a large US bank)?
I agree the fdic has done this before and if they can find a buyer or communicate well it should turn out fine next week.
There is a risk of contagion though and a risk of job losses if money is delayed for say 6-12 months. I don’t think it’s unreasonable to be worried about it if you’re impacted.
I agree the fdic has done this before and if they can find a buyer or communicate well it should turn out fine next week.
There is a risk of contagion though and a risk of job losses if money is delayed for say 6-12 months. I don’t think it’s unreasonable to be worried about it if you’re impacted.