"No losses associated with the resolution of Silicon Valley Bank will be borne by the taxpayer."
So, who pays? Get #bitcoin
https://www.federalreserve.gov/newsevents/pressreleases/monetary20230312b.htm
Discussion
burrrrrrr?? slight of hand? 50 cents from behind the sofa?
Money printer go brrrrr
Losses are born by the taxpayer, most just don't realize it because inflation is a silent killer.
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According to the joint statement, “Any losses to the Deposit Insurance Fund to support uninsured depositors will be recovered by a special assessment on banks . . . .” Which means losses are borne by the shareholders of *other* banks, their customers, and their employees.
They call it now "Bank Term Funding Program (BTFP)"
or just
"Buttfuck Taxpayers"