Joint Statement by the Department of the Treasury, Federal Reserve, and FDIC

Re:Joint Statement by the Department of the Treasury, Federa... by sokoloff on Sunday March 12, 2023 @07:28PM (#35128078)

Deposit money in a bank and expect to be able to withdraw it later as agreed seems compatible with borrow money for education and expect to pay it back later as agreed.

[ Parent | on HN ]

Re:Joint Statement by the Department of the Treasury, Federa... by object-a on Sunday March 12, 2023 @07:33PM (#35128162)

When you deposit money at a bank, it is made very clear to you that only $250K is protected by the FDIC. Any more, and you either buy insurance for it or take a risk on losing it in a bank failure.

These depositors knew that and still acted irresponsibly, yet they are going to be made whole. It’s not that much different from taking out a loan you don’t understand.

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Re:Joint Statement by the Department of the Treasury, Federa... by theGnuMe on Sunday March 12, 2023 @07:58PM (#35128468)

Here here.

[ Parent | on HN ]

Re:Joint Statement by the Department of the Treasury, Federa... by moose_is_loose on Sunday March 12, 2023 @07:31PM (#35128132)

They benefited with White Glove treatment and easy access to loans. They weren't depositing it there out of the goodness of their hearts. That's why SVB was hunting for yield.

[ Parent | on HN ]