The FDIC insures up to $250,000 for any given depositer in federally protected banks -- anything more than that isn't promised back though ... and reports indicate much of SVB's clientele -- typically steeped in the tech startup world, who often have boatloads of assets deposited -- might have way more than just that ... which may be lost when the dust settles.
On top of this, there are now reports of Wells Fargo accounts freezing for people who are trying to withdraw and transfer funds. Bank of America is also getting swept up in this -- both are trending, with a lot of Twitter users suggesting everyone get their cash out ASAP. A "technical issue" is causing some Wells Fargo customers to see missing deposits in their accounts, the bank says.
Ever notice when people step in to do what’s best for them… the government system in place fails? How do people not realize this?
Not really. but freak out and buy toilet paper.
Go to a credit union. Less corruption
of all the days, i requested an ach transfer on that Friday my money's floating around in a three day waiting period in a now sea of desperation transactions thanks for the fast breaking news on twitter that day, elon, not
TMZ adding their helpful random general google trending clickbait into the mix.
TMZ may be trying to percolate additional fears but not much sign of them among rational people
Your boy Biden strikes again! Another prime example of America under democratic leadership!! Build back better!! What a fucking joke
The address seems a little suspicious
who gets their financial news from TMZ? answers those who bank with SVB.
No it hasn’t. Stop.
Banks are communist, glad they're crashing
I love you TMZ, but you are being irresponsible here. There is ZERO evidence to support your claims. Just stop.
Meanwhile, top “executives “ are still clearing millions in “bonuses “ . 🖕🖕🖕🖕🖕
Thanks Joe Biden !
This is a loop surface.
No one is concerned about BofA or Wells Fargo collapsing. The people who claim to be want a bailout of SVB and are Chicken Littling in a desperate attempt to get it
Quit fanning the flames, and stay in your lane
Don’t panic 😱 your money is safe in the bank 🫡
Hopefully this is the bank TMZ has all their money invested into.
And yet somehow they’ll blame someone who’s been out of office 26 months instead of the guy who promised to Bring Back Broker!
This is MF Biden's fault. He started all this bullshit. Where is he? Oh, he is on vacation, as usual, code for sitting in his diaper, drooling, and being fed his applesauce. ANYONE who voted for him is as much to blame.
these gov agencies are dated SEC FDIC etc need a serious overhaul because with all this technology this should have caught this sooner independent/random audits n when the wire transfers started going out 🛑 🚩
Wow
We did it We did it, Joe!
I’d be down to lose my money in Wells Fargo if it meant they went under
FDIC is underfunded. No one is safe. Government is not protecting our money.
I mean, YA THINK? Housing and cars are WAY overvalued and it would be no surprise there are a ton of doofuses who can't make payments. Then you have student loans. This is going to be bad. A crash IS coming.
I hear Monday we will have a huge announcement, I've read that Wells Fargo, Bank of America, and State Street Bank are insolvent. I also read that the Stock Market will crash by 20% until it is forced shut on Monday Tuesday and Wednesday.
Stop with the doom porn for clicks you creeps
Thanks Joe!
Biden’s America
Very irresponsible tweet. There is no run on wells or BofA. You are trying to create hysteria and should be investigated
You people better learn what a “bank bail-in” is !!!
Woke agenda strikes again.
Kimzolciak === ** HE SAID $10, 000 ..🤪🤪🤪🤪🤪🤪🤪😝😝😝😝😝🍷🍷🍷🍷
ladymarketok interesante semana.
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