Daniel C
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Quick movement: given Signature Bank failure, the government together with the Federal Reserve are working to ensure all deposited accounts are protected, not just up to $250K.

Key: "Taxpayers will not bear any costs for any losses"

https://t.co/SZ0dFtoxPL
07:40 PM - Mar 12, 2023
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Daniel C
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Note: there is a tendency to say "rich people's problems". At least at SVB, most of these deposits are for startups, not all IT or biotech. Dividing a company's deposits between multiple accounts to meet FDIC protections is not really very practical.

https://twitter.com/lcmich...
In response to Daniel C.
07:42 PM - Mar 12, 2023
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Daniel C
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In response to Daniel C.
The startups may eventually make their founders rich, but not all are - they are trying to get products and services to market, make payroll, pay development costs, etc. You only get rich if the company succeeds big time.
07:43 PM - Mar 12, 2023
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