News for hackers. Stuff that matters.

A comment on FDIC Auction for SVB Said to Be Underway, Final Bids Due Sunday. Parent comment

Re:FDIC Auction for SVB Said to Be Underway, Final Bids Due ... by furyofantares on Sunday March 12, 2023 @01:14PM (#35122893)
> Whoever is buying it is doing so to get the customer list.

And to prevent contagion, I'd guess? Or do you not see it that way?

[ Parent | on HN ]
Re:FDIC Auction for SVB Said to Be Underway, Final Bids Due ... by jedberg on Sunday March 12, 2023 @01:22PM (#35123018)
Yes, to an extent it's in the big bank's best interests to restore faith in the banking system. But mostly that's up to the government.

If Treasury comes in and says "we will make all depositors whole", that pretty much ends the contagion right there.

[ Parent | on HN ]