Originally published at: FDIC Says They’ll Provide Unlimited Insurance for SVB Depositors | Infostormer.com
The FDIC says they are going to provide unlimited insurance for Silicon Valley Bank depositors.
Did FDIC insurance for depositors just become unlimited ??? 🤨 pic.twitter.com/sS8Okhtkiw
— Wall Street Silver (@WallStreetSilv) March 12, 2023
FDIC unveils new sign pic.twitter.com/PbYESPaji5
— zerohedge (@zerohedge) March 12, 2023
They are bailing the bank out without calling it a bailout.
SUMMARY OF SILICON VALLEY BANK BAIL OUT:
1. All depositors will have access to ALL money on Monday
2. Fed announces new “emergency bank funding program”
3. Fed to make additional funding available to banks
4. FDIC/Fed discussed plan with Biden
This is a bailout in disguise.
— The Kobeissi Letter (@KobeissiLetter) March 12, 2023
You also have this fuckery.
Just got off of a zoom meeting with Fed, Treasury, FDIC, House, and Senate.
A Democrat Senator essentially asked whether there was a program in place to censor information on social media that could lead to a run on the banks.
— Thomas Massie (@RepThomasMassie) March 13, 2023
I don’t even know what to say. They don’t have the resources to bail everyone out. The house of cards is collapsing.
Tomorrow is going to be very interesting.