Mass Layoffs and Absentee Bosses Create a Morale Crisis at Meta

Re:Mass Layoffs and Absentee Bosses Create a Morale Crisis a... by nightski on Wednesday April 12, 2023 @11:33AM (#35541469)

SVB depositors were almost in the same boat. Maybe not this time, but there is no guarantee the government will bail you out. In fact, Janet Yellen (who has a lost any credibility she may have had imho) even said they don't intend to extend that protection to all banks. They prefer to pick & choose who they extend the protection to (especially rich liberal donors).

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Re:Mass Layoffs and Absentee Bosses Create a Morale Crisis a... by jboy55 on Wednesday April 12, 2023 @02:08PM (#35544112)

Only depositors who had more than 500k deposited. For SVB, a high number for sure, but its not a counterpoint to someone posting how putting trust in crypto bankrupted a large number of people in developing countries when they mistakenly thought they could trust crypto more than a bank.

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Re:Mass Layoffs and Absentee Bosses Create a Morale Crisis a... by nightski on Wednesday April 12, 2023 @04:12PM (#35546071)

FDIC insurance is 250k, not 500k. It's not Apples to Apples, but it demonstrates that the banking system is not rock solid either.

Not only that, if you really want to look at exploitation of the poor look no further than our large banks in America.

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