You’re being bailed out too. You just don’t understand how.
Signature Bank failed and they didn’t tell anyone. A half dozen more would be dead by noon on Monday. Good luck to rest of the financial system, and good luck to the rest of the economy.
The US has over $9tn of deposits and the entire FDIC insurance fund is only $121bn, which is less than the total assets of SVB alone. FDIC insurance can cover a few bank failures, but not dozens.
This isn’t bailing out the rich this is businesses. If you want businesses to not exist, fine. I suggest you find some communist utopia and go live there.
One of these times where you can see how the concentration of quality reasoning on HN decreased with time and popularity. People think hurting businesses will not affect them. Incredible.
Signature Bank failed and they didn’t tell anyone. A half dozen more would be dead by noon on Monday. Good luck to rest of the financial system, and good luck to the rest of the economy.