News for hackers. Stuff that matters.

A comment on Yellen says government will help SVB depositors but rules out bailout. Parent comment

Re:Yellen says government will help SVB depositors but rules... by gruez on Sunday March 12, 2023 @01:44PM (#35123403)
> The issue is it wasn't pension money. It was VC money, that's money intentionally being gambled in high risk endeavors. It's not right for thr tax payers to bail out rich VCs who gambles their money.

Putting your startup's funds in a FDIC insured bank isn't exactly "gambling".

[ Parent | on HN ]
Re:Yellen says government will help SVB depositors but rules... by iancmceachern on Sunday March 12, 2023 @01:53PM (#35123551)
It is if you have funds over the FDIC limit. There are services that take care of that for you, there are many standard practices that exist to protect against this, all were ignored.
[ Parent | on HN ]