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A comment on Joint Statement by the Department of the Treasury, Federal Reserve, and FDIC. Parent comment

Re:Joint Statement by the Department of the Treasury, Federa... by labster on Sunday March 12, 2023 @07:41PM (#35128248)
I see it the other way around. The VCs started a panic. Name one other bank that could survive $42 billion in withdrawals in a single day. Other than Bank of Zimbabwe, obviously. Even Wells and JP Morgan would collapse under that strain. The VCs caused their own pain.
[ Parent | on HN ]
Re:Joint Statement by the Department of the Treasury, Federa... by scopendo on Sunday March 12, 2023 @07:50PM (#35128378)
The panic was started by SVB, not VCs. Abstract this to any other bank and the reaction would have been the same.
[ Parent | on HN ]