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."
Source: Insurance Report (insurancereport.net)
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's Takeover of SVB Sparks Bank Runs, BoA & Wells Fargo FearsSVB's collapse has sparked bank runs at branches across the country, and now ... additional fears are percolating that even more big banks could be next in having the FDIC step in and take over. Kimzolciak === ** HE SAID $10, 000 ..🤪🤪🤪🤪🤪🤪🤪😝😝😝😝😝🍷🍷🍷🍷 ladymarketok interesante semana. Woke agenda strikes again.
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SVB doled out bonuses ahead of FDIC seizureSilicon Valley Bank paid out annual bonuses to eligible U.S. employees, just hours before the bank was seized by the U.S. government. Ughhh Of course they did Not unusual. They would have been considered 'earned wages' for 2022 and the FDIC honors such commitments to employees (but not senior management). Look at how much they pay employees that stay and help with the transition.
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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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Treasury, FDIC to brief California lawmakers on SVB collapseU.S. Treasury and Federal Deposit Insurance Corp. (FDIC) officials plan to brief members of California's congressional delegation on the collapse of Silicon Valley Bank, Axios has learned. No bailouts for billionaires.
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No Federal Bailout for SVB, But FDIC Auction Is UnderwayThe auction process for the financially-distressed bank is set to end Sunday afternoon.
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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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