Interesting that the"administration" announces that it will cover ALL the losses at SVB. All this time I thought there were laws and regulations about that! And that the House of Representatives ran the purse strings. Look at how many Chinese firms were invested in SVB, so no wonder we don't want to antagonize the owners of our administration, eh?
Not all the losses - all the depositors which hopefully will be covered by the sale of the bank's investment portfolio including $80 billion of treasury bonds. The people who bought SVB stock - they're the ones who are really screwed - including all the retirement fund 401k's who had money invested in this "safe" stock.
Interesting that the"administration" announces that it will cover ALL the losses at SVB. All this time I thought there were laws and regulations about that! And that the House of Representatives ran the purse strings. Look at how many Chinese firms were invested in SVB, so no wonder we don't want to antagonize the owners of our administration, eh?
ReplyDeleteNot all the losses - all the depositors which hopefully will be covered by the sale of the bank's investment portfolio including $80 billion of treasury bonds. The people who bought SVB stock - they're the ones who are really screwed - including all the retirement fund 401k's who had money invested in this "safe" stock.
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