Yellen says government will help SVB depositors but rules out bailout

Re:Yellen says government will help SVB depositors but rules... by roflyear on Sunday March 12, 2023 @12:34PM (#35122253)

I think I lean towards you, but what people are actually suggesting is that these startups shouldn't be bailed out when they went with a bank with super-high promised rates, while they of course knew their deposits over $250k were uninsured.

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Re:Yellen says government will help SVB depositors but rules... by tsunamifury on Sunday March 12, 2023 @01:07PM (#35122789)

They haven’t lost the money yet. Read and understand before you comment. The banks assets lost 10-20% value not 100%

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Re:Yellen says government will help SVB depositors but rules... by roflyear on Sunday March 12, 2023 @04:26PM (#35125783)

That's very rude. I haven't implied they lost money, to start, and 80% today or this week is much different than 80% in months.

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Re:Yellen says government will help SVB depositors but rules... by jurassic on Sunday March 12, 2023 @01:30PM (#35123175)

I haven’t heard anything about high rates being the primary thing drawing people to SVB. The trap seems to have been giving startups access to credit that other banks would not provide, but only if you agree to do all your banking with SVB. That, and also several big VCs that required their portfolio companies to bank there. These things are what herded everyone into the building before it caught fire.

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Re:Yellen says government will help SVB depositors but rules... by roflyear on Sunday March 12, 2023 @04:36PM (#35125925)

I agree and have heard the same as you have, but SVB's website still does say a 4.5% yield. So the yields were quite attractive.

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