America’s banks are missing hundreds of billions of dollars

Re:America’s banks are missing hundreds of billions of dollars by theteapot on Wednesday March 22, 2023 @04:34AM (#35258337)

> Yellen says unsecured depositors at TBTF banks will always be bailed out, but those at smaller banks are on their own.

I agree SVB and Signature uninsured deposits shouldn't have been guaranteed, but that's not quite what Yellen said. The $250K guarantee applies to deposits at all insured banks. Having clarified that, Yellen said:

> A bank only gets that treatment [guaranteeing all deposits] if a [super] majority of the FDIC, a super majority of the FED board, and I in consultation with the president determine that the failure to protect uninsured depositors would create a systemic risk and significant economic and and financial consequences ...

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Re:America’s banks are missing hundreds of billions of dollars by boomerango on Wednesday March 22, 2023 @07:33AM (#35259500)

Exactly. The subtext to this clip is that she cannot do what the congressman is acting without an act of congress, and he should know that. It’s well executed grandstanding.

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