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Stocks A to Z / Stocks B / Berkshire Hathaway (BRK.A) ❤
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Author: bigshan ⎊  😊 😞
Number: of 15061 
Subject: Re: SVB bailout
Date: 03/16/2023 11:26 AM
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<At this point, the plan was for all insured deposits to be made whole on Monday morning, up to the $250,000 limit. The FDIC clearly stated the following with respect to uninsured deposits:

"The FDIC will pay uninsured depositors an advance dividend within the next week. Uninsured depositors will receive a receivership certificate for the remaining amount of their uninsured funds. As the FDIC sells the assets of Silicon Valley Bank, future dividend payments may be made to uninsured depositors."
>

That's not enough to stop market panic because people don't know if the Fed would continue to do that for other banks.
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