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re: Can someone who understands venture-capital explain to me why the uproar?

Posted on 3/10/23 at 9:28 pm to
Posted by Big Scrub TX
Member since Dec 2013
33603 posts
Posted on 3/10/23 at 9:28 pm to
quote:

$200 billion of which 90% was not FDIC insured meaning it has basically disappeared
This is not accurate.
Posted by stout
Smoking Crack with Hunter Biden
Member since Sep 2006
167511 posts
Posted on 3/10/23 at 9:30 pm to
quote:

This is not accurate.




quote:

On March 10, 2023, Silicon Valley Bank collapsed, causing the largest bank failure since the 2008 financial crisis and the second-largest in U.S. history.[1] Of the bank's US$175 billion in deposit liabilities, Reuters reported that, as of the end of 2022, 89 percent of its deposits were not covered by federal deposit insurance


LINK


Other articles have reported over $200 billion in liabilities but we all know you are always correct about everything.
Posted by LSUAngelHere1
Watson
Member since Jan 2018
8218 posts
Posted on 3/10/23 at 9:39 pm to
quote:

This is not accurate.


- SVB had almost 90% of its deposits uninsured by the FDIC.

- JPMorgan has about 59% of its deposits uninsured via this US government backstop.
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