So small businesses are not taxpayers?Ok...but what does this have to do with "needing to sold and cleaned up but not with taxpayer money"? Coincidentally it's a screed I see plastered all over Fox News.
Why bail out silicon valley hedge funds by socializing their loss across all the small accounts? Let some vulture capital firms buy the failed bank assets and recover whatever asset value is left. Making small banks "too big to fail", creates moral hazard from no penalty for avoiding bad management.
Um no,,, The government controlling more of the private sector is not always the answer. They would love to socialize the banking system and make it into a government managed utility. Imagine what they could do with access to all transaction data? It would be like living under the PRC.Given a sizable chunk of small business accounts that were held at SVB (and child banks) that exceeded the $250K insurance limit, I'm sure if the FDIC hadn't stepped in to guarantee all deposits, the line would have been how Biden and the Fed let small businesses fail rather than act.
JR