[dylan604]

Is that a fair assessment or just a knee jerk reaction to first reading?

How long will the FDIC make this unlimited protection available to SVB++? Is it just long enough to calm everyone down, and then in a few weeks/months release a very quite announcement that the guarantee is going back to the original $250k? If it is new gov't policy that all accounts every where are guaranteed for ever, then that's a huge banking shift that seems like something that would require a bit of congressional approval. But that's just me not knowing a damn thing about how the FDIC decisions like this are made

[Alupis]

If my bank fails next year, and I don't get infinite deposit insurance - where are we then?

The fact that the FDIC website still says $250k cap is amazingly laughable. It's either unlimited for everyone every time, or it's $250k for everyone every time.

The reality is - it's infinite deposit insurance if you are well connected. Let that sink in folks.

[dylan604]

obviously this is a rhetorical question, but are you really going to be hurt by the $250k cap? really?

If so, maybe it's time for a better banking plan than "all eggs in one basket"

[Alupis]

The point is not whether or not I personally would be hurt by this, or rather the metaphoric I, for the matter.

The point is the rules where changed mid-game to protect a bunch of very well connected people that played extremely loose with the "rules" and will suffer zero consequences as a result - because my personal dollars are being used to protect them.

Regarding the $250k cap in general - in my opinion, it's far too low. It's lower than the average price of a house in a large amount of the country.

[dylan604]

To be clear, who are the people that "played extremely loose" in your ire? The bank management or the individual bank account holders that had more than $250k in the accounts?

What does the price of a house have to do with the cash-on-hand bank accounts of the average citizen?