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A comment on Silicon Valley Bank unmasks the hypocrisy of libertarian tech bros. Parent comment

Re:Silicon Valley Bank unmasks the hypocrisy of libertarian ... by pjc50 on Wednesday March 15, 2023 @09:24AM (#35167974)
Why banks specifically? Should there be insurance for AWS and Github accounts?

> maybe they already do

"Insured cash sweep" (which is basically "RAID for banking")

[ Parent | on HN ]
Re:Silicon Valley Bank unmasks the hypocrisy of libertarian ... by AdamN on Thursday March 16, 2023 @12:13PM (#35183942)
There already is DR and business continuity insurance so non-financial assets have an entire industry around insuring against events there.

Cash sweep is insured but only to a limit, there's nothing magical there and the underlying securities have default risk (or breaking the buck).

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