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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 piyh on Monday March 13, 2023 @02:40AM (#35131953)
They only need to cover 20 billion or so for SVB? In the grand scheme of all banks, that's not a ton. SVB wasn't some FTX oops it's all gone level fraud.

Assuming it's a one time charge and not a contagion, it sounds like why we have government and FDIC.

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Re:Joint Statement by the Department of the Treasury, Federa... by muzz on Monday March 13, 2023 @03:28AM (#35132311)
$20 Billion is roughly $60 for every person in the country

It's more the state government budget for about 1/3 of the states in the union

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Re:Joint Statement by the Department of the Treasury, Federa... by piyh on Monday March 13, 2023 @10:58AM (#35136577)
128 billion in the FDIC reserves as of December 2022. Better than letting more dominoes fall if you're trying to preserve that insurance pool.
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