A sign for Silicon Valley Bank headquarters is seen in Santa Clara, California, U.S. March 10, 2023. REUTERS/Nathan Frandino/File Photo/File PhotoMarch 13 - The U.S. Federal Deposit Insurance Corporation has transferred all deposits of Silicon Valley Bank
In a statement, the FDIC said all customers of SVB would automatically become customers of the bridge bank, which will hold "normal banking hours and activities, including online banking."
Looks like another money laundering scam...
The USA rich always get bailed out 👀
Billy is ready for the glasses, think and look elsewhere, it will be different.
In other words, taxpayers will socialize the losses
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FDIC racing to start returning some uninsured SVB deposits as soon as Monday, Bloomberg News saysThe Federal Deposit Insurance Corporation (FDIC), which is overseeing the emergency breakup of SVB Financial Group , is racing to sell assets and make a portion of clients' uninsured deposits available as soon as Monday, Bloomberg News reported on Saturday, citing people with knowledge of the situation.
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U.S. and U.K. regulators consider ways to help SVB depositors, FDIC auctioning assets - reportsThe U.S. Federal Deposit Insurance Corporation is reportedly holding an auction for the assets of failed Silicon Valley Bank of California this weekend,... Auctions are simply not enough to pay people back. They need to update the limit on the placard so that it accurately says “infinity”. The people wanting the Government to bailout SVB and its customers are same people people who want to cut Social Security, Medicare and not help with student loans The only want Corporate Welfare and Corporate Socialism
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