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A comment on US Says All SVB Deposits Safe, Creates New Backstop for Banks. Parent comment

Re:US Says All SVB Deposits Safe, Creates New Backstop for B... by dmm on Sunday March 12, 2023 @08:26PM (#35128820)
Right, it's going to be funded as a fee against banks, which will be passed on to bank customers aka taxpayers.
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Re:US Says All SVB Deposits Safe, Creates New Backstop for B... by epvgwwqe on Sunday March 12, 2023 @08:41PM (#35128923)
Do you know the definition of a government tax?
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Re:US Says All SVB Deposits Safe, Creates New Backstop for B... by PierceJoy on Sunday March 12, 2023 @08:34PM (#35128899)
You will lose far far more if the public loses faith in banks. Not wanting depositors to get backstopped is cutting off your nose to spite your face.
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Re:US Says All SVB Deposits Safe, Creates New Backstop for B... by ahelwer on Sunday March 12, 2023 @08:43PM (#35128935)
Nobody in "the public" is losing faith in banks. FDIC covers everybody up to $250k. If you have more money than that and can't be arsed to split it up into multiple accounts that's on you.
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Re:US Says All SVB Deposits Safe, Creates New Backstop for B... by dmm on Sunday March 12, 2023 @08:51PM (#35129009)
> You will lose far far more if the public loses faith in banks

Maybe so. But I think we should be honest about what this is: a bailout of the banking industry.

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