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No bailouts for #SiliconValleyBank or its depositors. Insurance has always been there, and those companies that didn't buy it are the ones responsible for taking that risk. https://www.theguardian.com/business/2023/mar/12/silicon-valley-bank-collapse-no-bailout-janet-yellen
@eighthave This is the first I've heard that depositors can buy insurance themselves beyond what they get from FDIC. Can you please provide pointers to such providers? Is there an extra rider I can purchase from FDIC? #svb
@lcannell There are many tools to manage financial risk, I've never heard of buying extra #FDIC coverage. But a quick search for "private deposit insurance" shows many options. Isn't the #US supposed to be a #capitalist system built around private enterprise? That's the typical story, but the truth lies somewhere else.
@eighthave I don't want to get into an ideological argument, just thought you might know of something practical. US government often steps in when private options aren't possible, such as flood insurance.