So... the summary is that for all the fear some people had that taxpayers would "bail out billionaires," and the corresponding fear that companies had that "a ton of our money could evaporate and destroy the economy with massive downstream impact"... FDIC/Treasury stepped in and did the right thing: depositors made whole, no taxpayer funds, bank assessment to make up any difference, & SVB equity/unsecured debtholders (mostly) wiped out.

A very good result.

@mmasnick I feel like "bank assessment to make up any difference" is going to come out of the pockets of US banking customers, many of whom are taxpayers, in the form of fees, higher interest rates on loans, and lower interest paid on deposits, so . . . ¯\_(ツ)_/¯
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