SVB Contagion?
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https://www.fdic.gov/news/press-releases/2023/pr23021.html
"Subsidiary of New York Community Bancorp, Inc., to Assume Deposits of Signature Bridge Bank, N.A., From the FDIC"
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Cute and all but:
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Banks like that $3 overdraft, they get to charge her $20 for it.
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SVB didn’t get money. The executives all lose their jobs and the shareholders are zeroed out. The depositors got made whole.
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Cute and all but:
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Banks like that $3 overdraft, they get to charge her $20 for it.
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SVB didn’t get money. The executives all lose their jobs and the shareholders are zeroed out. The depositors got made whole.
@jon-nyc said in SVB Contagion?:
- SVB didn’t get money. The executives all lose their jobs and the shareholders are zeroed out. ...
Pending investigation, perhaps there should be claw-backs of their recent performance-based bonuses and stock awards too. They should not get to keep short-term gains from poor risk management practices.
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