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

Re:Joint Statement by the Department of the Treasury, Federa... by threeseed on Sunday March 12, 2023 @08:06PM (#35128564)

No whether you have $1 in the bank or $100 million is irrelevant.

Your job is to understand and mitigate financial risk as is required by law.

And in this case there are many options for managing this risk other than splitting it up manually into multiple bank accounts. Speaking with a financial advisor would help with this.

[ Parent | on HN ]

Re:Joint Statement by the Department of the Treasury, Federa... by eloff on Sunday March 12, 2023 @11:48PM (#35130758)

There’s so much victim blaming in this comments section. I’m amazed.

[ Parent | on HN ]

Re:Joint Statement by the Department of the Treasury, Federa... by threeseed on Monday March 13, 2023 @03:23AM (#35132270)

The real victims in all of this are the taxpayers who will cover the costs.

CEOs who should have known better are not victims.

[ Parent | on HN ]

Re:Joint Statement by the Department of the Treasury, Federa... by eloff on Monday March 13, 2023 @07:15AM (#35134089)

Taxpayers are not covering any cost. The banks will pay for it via potentially higher FDIC insurance premiums. It’s possible they pass that on to customers, but there’s no direct link here.

[ Parent | on HN ]