by logn on 3/12/23, 10:28 PM with 4 comments
by mrandish on 3/12/23, 10:40 PM
>“depositors will have access to all of their money starting Monday, March 13. No losses associated with the resolution of Silicon Valley Bank will be borne by the taxpayer.”
It's largely undone by this
> “any losses to the Deposit Insurance Fund to support uninsured depositors will be recovered by a special assessment on banks, as required by law.”
because that just means the costs will be paid by all U.S. banks which means it comes out of bank fees/costs borne by U.S. banking customers (ie almost everyone).
by tus666 on 3/12/23, 10:30 PM
More funny language. Why use the word "starting" instead of "on"?