This is unreal. I mean, I can believe it. But wow.
Government backed insurance on public banks.
SVB had a number of assets that performed poorly recently and led to their demise.
A bigger bank will acquire SVB to get those assets at a discount. They also get the clients and associated revenue from their loans (I think).
Here’s FDIC: https://en.m.wikipedia.org/wiki/Federal_Deposit_Insurance_Corporation
This is unreal. I mean, I can believe it. But wow.
Government backed insurance on public banks.
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