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1. rin (rin@post.ebin.club)'s status on Wednesday, 07-Jun-2023 16:26:58 JST rin
   https://archive.is/OhwHq
   
   > Beverly Hills, California-based PacWest’s website says clients can “rest assured” because the bank can offer up to $175mn in insurance coverage per depositor, or 700 times the FDIC cap.
   > The bank said in its most recent financial filing that it was enrolling more of its customers in “reciprocal deposit networks”, over which hundreds, or in some cases thousands, of banks spread customers’ funds in order to stretch insurance limits.
   
   how is this legal lmao
   • LS (lain@lain.com)'s status on Wednesday, 07-Jun-2023 16:26:57 JST LS

     in reply to
     @rin insuring deposits is such a nonsensical concept but people just accept it.
   • Terry Hendrix II 🏹 (thendrix@social.hendrixgames.com)'s status on Wednesday, 07-Jun-2023 16:52:27 JST Terry Hendrix II 🏹

     in reply to

     • LS

     Well, now major CRE is defaulting what is even valid collateral? So… how about those space aliens and the French riots?

     LS likes this.