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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 shrimpx on Sunday March 12, 2023 @08:09PM (#35128609)
You don't have to be anywhere close to "omniscient" to understand the concepts of risk and insurance. Every layman knows about FDIC limits. In addition, these CEOs are backed and advised by resourceful VCs. Those VCs wrote checks into SVB accounts and apparently didn't care to give any advice about protecting those uninsured piles of cash. Hubris or incompetence or both.
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Re:Joint Statement by the Department of the Treasury, Federa... by klabb3 on Monday March 13, 2023 @01:34AM (#35131524)
> Those VCs wrote checks into SVB accounts and apparently didn't care to give any advice about protecting those uninsured piles of cash.

Worse, according to others in the thread they had it in the contract that they must use SVB exclusively.

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