#svib — Public Fediverse posts
Live and recent posts from across the Fediverse tagged #svib, aggregated by home.social.
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#SiliconValleyBank Used Former McCarthy Staffers to Weaken Regulations, Lobby #FDIC
Two senior aides to House Speaker #KevinMcCarthy were among the top #lobbyists for the bank at the center of a new #financialcrisis
https://theintercept.com/2023/03/11/silicon-valley-bank-used-former-mccarthy-staffers-to-weaken-regulations-lobby-fdic/
#revolvingdoor #SVB #SVIB #Bankcollapse -
Short version of the statement
- All #SVB depositors will be made whole. Shareholders of #SVIB and certain unsecured debtholders will not be protected.
- All #SVB depositors will be able to access 100% of their money on Monday.
- #SignatureBank of NY has also been closed and will be handled similarly
- Taxpayers will not pay for a bailout. Any losses to the FDIC insurance fund will be made up by a special assessment on all US banks.
(more)
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