its HN fantasy-land talk

first HN said there was no problem

then HN said everyone will get their money back

what next?

HN is full of dreamers, the kind who wander into traffic

The parent didn't say everyone would get their money back. It said the friend who took a seed-stage investment will likely get most of their money back. I don't know the odds of that (most uncertain about the amount of money involved) but it's definitely much higher than "everyone gets all of their money back".

It's how the FDIC does things. They pay what are called "dividends" on your previous deposits from the successor bank as they sell off assets.

But if you're curious, and want a layman no-jargon version the press release from the FDIC is pretty good.

I mean this in no uncertain terms. HN users know nothing about this and are regurgitating pure rubbish over and over again in this thread. If you're concerned, don't even trust me, but go read the press release. CA put out one too.

https://www.fdic.gov/news/press-releases/2023/pr23016.html

> All insured depositors will have full access to their insured deposits no later than Monday morning, March 13, 2023. The FDIC will pay uninsured depositors an advance dividend within the next week. ...