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If the "U.S. banking system remains resilient and on a solid foundation", as #US Treasury says, then why do they need to take a special action to bail out #SVB depositors who should have gotten insurance for themselves? To me, this looks like yet another #bailout for the wealthy and well connected.

@Siberian I think the FDIC is a great idea, my point is that it automatically covers a fixed amount of deposits. This is widely known and documented. Those who deposit more than that in a bank are taking risks. If you have that much much, you have resources to manage risk. But here, we have typical US #socialism for the rich. Oops, I left my millions in a risky bank that cratered, the US Gov will bail me out. But if I lost my job and can't pay my mortgage, sorry tough luck, this is #capitalism!