That’s fair. I meant to say the customers were all made whole well above and beyond the FDIC limit.
I think that’s a good thing. I’m unconvinced the same wouldn’t happen at WF.
[edit] You edited your comment with a significantly larger amount of preamble, so I’m adding: I agree, and I am very well read on SVB. They were simply unlucky, and perhaps made a bad choice in overinvesting in illiquid bonds, plus bad VC behavior leading to the bank run. None of that was my point.
I think that’s a good thing. I’m unconvinced the same wouldn’t happen at WF.
[edit] You edited your comment with a significantly larger amount of preamble, so I’m adding: I agree, and I am very well read on SVB. They were simply unlucky, and perhaps made a bad choice in overinvesting in illiquid bonds, plus bad VC behavior leading to the bank run. None of that was my point.