News for hackers. Stuff that matters.

A comment on FDIC Establishes Signature Bridge Bank, N.A., As Successor to Signature Bank. Parent comment

Re:FDIC Establishes Signature Bridge Bank, N.A., As Successo... by stefan_ on Sunday March 12, 2023 @10:32PM (#35130159)
Many things can be a bailout. I'm just calling it how I see it: this bank has assets that are likely less than the sum of its deposits. To make them whole despite this is a bailout, and particularly so when it's above the previously agreed on limit.

Maybe you just have an unnatural aversion to the word or something.

[ Parent | on HN ]
Re:FDIC Establishes Signature Bridge Bank, N.A., As Successo... by colechristensen on Sunday March 12, 2023 @10:35PM (#35130194)
The bank is gone, it’s not being bailed out it no longer exists. It has in entirely been taken by the fdic and will be parted up and sold for the benefit of those the former bank owed money to (to wit, those who deposited money with it)
[ Parent | on HN ]