[mynameishere]

Their assets were worth less than they owed depositors. An auction would have caused a 30 percent or so loss to many millionaires.

[yazaddaruvala]

The SVB investors which were many millionaires, did lose 100% of their investment.

The depositors, regardless of wealth, were lied to about the safety of their funds. It was roughly fraud - it wasn't their fault - they didn't take excess risk. How is it a bailout to let them keep their money?