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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 wil421 on Sunday March 12, 2023 @09:14PM (#35129290)
No it’s the CEOs job to hire people who know like a CFO and everyone else in finance. Lots of companies make short investments with extra cash. No need to put everything in a single bank account.
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Re:Joint Statement by the Department of the Treasury, Federa... by dlubarov on Sunday March 12, 2023 @10:01PM (#35129792)
Why would we want a situation where everyone splits up their cash into $250k accounts? Seems like that would waste a lot of time while removing competition (who cares what the bank is, any bank is fine for $250k). And it wouldn't ultimately save taxpayers any money, it's just a strategy for gaming the current FDIC guarantee.
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Re:Joint Statement by the Department of the Treasury, Federa... by peanuty1 on Monday March 13, 2023 @02:57AM (#35132070)
You don't need to limit your accounts to a maximum of $250k. You just need to use more than one bank if you're going to use a regional bank like SVB.

Especially a regional bank like SVB that fought hard against regulation, caters specifically to herd-thinking VCs and startups, offered 4.5% APY, and went all in on mortgage backed securities shortly before the Fed hiked rates way up.

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