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talltim007 t1_jckzydy wrote

Reply to comment by BrandTheBroken in Peter Thiel says he had $50M in SVB when it collapsed. by PossessionStandard42

Investors lost it all. The bank doesn't exist as an ongoing concern and is in receivership. Lots of drama, the FDIC did it's job and protected depositors but deposits above 250k were not guaranteed on Friday of last week.

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BrandTheBroken t1_jcl12hy wrote

True about the 250k, but that's temporary. SVB owns more than double the assets of what they would owe if they paid everyone out. So why did they need to step in?

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talltim007 t1_jcl1ost wrote

Because trying to sell them all as fast as depositors withdrew them was impossible.

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