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1. rejectwreck (rejectwreck@poa.st)'s status on Monday, 20-Mar-2023 10:46:04 JST rejectwreck

   in reply to

   • synapsid
   @synapsid insurance limit bank run. thats a first does that mean they only have safety over a certain amount of money or deposits? If so thats pretty bad to say out loud.
   • synapsid (synapsid@poa.st)'s status on Monday, 20-Mar-2023 10:46:04 JST synapsid

     in reply to

     @rejectwreck FDIC used 20% of their funds specifically allotted to insuring deposits on SVB alone. Total amount they (hypothetically) need to insure is in the trillions, and they only have around 200 billion. Less than 1% of what they are in theory going to cover.

     Woggy's Zeonic Frolicks likes this.
   • synapsid (synapsid@poa.st)'s status on Monday, 20-Mar-2023 10:46:05 JST synapsid

     Federal Reserve: Your bank funds are totally safe bro, no please don’t start a mass panic bank run when more and more banks start failing tomorrow haha