[twisteriffic]

> The official also said the steps didn’t constitute a bailout, as equity and bondholders of SVB and Signature would be wiped out.

Tell me you didn't read the article without telling me you didn't read the article.

[adad95]

https://finance.yahoo.com/news/yellen-says-no-federal-bailou...

"In a separate announcement, the Fed late Sunday announced an expansive emergency lending program that's intended to prevent a wave of bank runs that would threaten the stability of the banking system and the economy as a whole."

"The Treasury has set aside $25 billion to offset any losses incurred under the Fed’s emergency lending facility."

If it looks like a duck, swims like a duck, and quacks like a duck, then it probably is a duck.

[hartator]

If you have to pay more taxes because of this, it’s a bailout.

[nickthegreek]

You don't have to pay more taxes because of this.

[dmm]

Right, it's going to be funded as a fee against banks, which will be passed on to bank customers aka taxpayers.

[PierceJoy]

You will lose far far more if the public loses faith in banks. Not wanting depositors to get backstopped is cutting off your nose to spite your face.

[ahelwer]

Nobody in "the public" is losing faith in banks. FDIC covers everybody up to $250k. If you have more money than that and can't be arsed to split it up into multiple accounts that's on you.

[dmm]

> You will lose far far more if the public loses faith in banks

Maybe so. But I think we should be honest about what this is: a bailout of the banking industry.

[epvgwwqe]

Do you know the definition of a government tax?

[fein]

yet.