Yellen says government will help SVB depositors but rules out bailout

Re:Yellen says government will help SVB depositors but rules... by oldgradstudent on Sunday March 12, 2023 @01:28PM (#35123122)

> People here are effectively suggesting that I shouldn't get my paycheck and that the company I work for should lose most of its money because our CEO used a well-reputed bank?

If you want to be paid by the government, you should be aware that salaries are significantly lower, and perks are non-existent.

The government regulates banks and provides deposit insurance to to 250K.

The whole point of deposit insurance is to prevent retail bank runs by the general public.

Beyond that, it is the job of your CFO to manage risks, including the risk bank failure.

The last large wave of bank failures happened barely over a decade ago. These things happen.

Also, it sounds like your company will lose at most a fraction of its deposits.

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Re:Yellen says government will help SVB depositors but rules... by GenerWork on Sunday March 12, 2023 @02:34PM (#35124208)

>and perks are non-existent.

I thought that government perks were a major way to attract people in order to make up for the lower pay (pensions, more vacation, etc).

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Re:Yellen says government will help SVB depositors but rules... by oldgradstudent on Sunday March 12, 2023 @03:49PM (#35125287)

These are more benefits than perks.

Still, total compensation is way lower for most government jobs.

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