Matthew Yglesias

@mattyglesias ↗

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Last Checked March 14, 2023

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Sun Mar 12 10:48:26 +0000 2023

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Matthew Yglesias @mattyglesias

There’s this false dichotomy between evil “bailouts” of SVB’s creditors and doommongering about inability to access deposits and make payroll. What if the FDIC just does normal resolution, sells assets, everyone can access accounts tomorrow, but depositors lose some money? — PolitiTweet.org

Posted March 12, 2023

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Matthew Yglesias @mattyglesias

@kimmaicutler @ClaraJeffery The FDIC is selling SVB’s assets and giving the proceeds to SVB’s depositors — all the drama about ability to access the funds is a made-up problem. The very real problem is the asset sales may not cover 100% of the tab so the people who lent SVB money will lose some of it. — PolitiTweet.org

Posted March 12, 2023

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Matthew Yglesias @mattyglesias

Suppose you were a very rich person who had a ton of money in an account at SVB and you lost a share of that money — you’d be mad! I’d be mad too! But that’s not an economy-imploding scenario in which nobody can access their deposits or pay their employees. — PolitiTweet.org

Posted March 12, 2023