David Sacks

@DavidSacks ↗

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Last Checked March 24, 2023

Created

Sat Mar 11 01:19:32 +0000 2023

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9,025

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David Sacks @DavidSacks

The idea that depositors are creditors to a bank is an absurd and outdated notion. Everyone just wants a checking account, not to loan the bank money. — PolitiTweet.org

Posted March 11, 2023

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David Sacks @DavidSacks

@Jkylebass SVB is going bankrupt. All the stockholders and executive stock options are getting wiped out. I got no problem with that. The only question is how you treat deposits. — PolitiTweet.org

Posted March 11, 2023

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David Sacks @DavidSacks

The solution is for FDIC to offer a category of insurance where (1) deposits are fully protected but (2) banks are restricted to investing that money in fully liquid securities that are marked-to-market daily. That is the product everyone wants. — PolitiTweet.org

Posted March 11, 2023