|
|
|
|
|
|
by leot
1187 days ago
|
|
|
No one knows that taxpayers will have to pay anything for any of this. It's possible they'll end up ahead. The assets were/are there to cover depositors. The timing of the asset liquidation/redemption is the problem, and only the "bank of last resort" can help avert contagion from skittish depositors, mass layoffs, and pointless disruption. As said above: would you prefer to see hundreds or thousands of small companies fail, their employees go on unemployment insurance, etc.? |
|
|
Wouldn't SVB have been sold at auction by the FDIC if that were likely to happen?
I don't want to see startups fail or people lose their jobs, but this all feels like a cloaked way of passing the cost of the bailout onto the taxpayers (via raised FDIC fees that will trickle down).