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Title: US Government Spent $12,700,000,000 To Bail Out 10 Wealthy Depositors Amid Banking Crisis: Report
Source: [None]
URL Source: https://dailyhodl.com/2023/06/25/us ... rs-amid-banking-crisis-report/
Published: Jun 27, 2023
Author: Mike Rivero
Post Date: 2023-06-27 18:06:46 by Horse
Keywords: None
Views: 271
Comments: 1

The Federal Deposit Insurance Corporation (FDIC) has released an unredacted document that shows the government guaranteed the deposits of Silicon Valley Bank’s (SVB) ten largest customers following its high-profile collapse in March.

The FDIC “mistakenly” released the complete version of the document following a Freedom of Information Act request from Bloomberg.

The document reveals the names of the firms that were bailed out, along with their total deposits that immensely exceed the $250,000 FDIC protection limit per account.

Stablecoin issuer Circle was SVB’s top depositor to the tune of $3.3 billion. In March, the Boston-based firm said $3.3 billion of the $40 billion backing its stablecoin USD Coin (USDC) was initially stuck in the bankrupt bank.

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#1. To: Horse (#0)

Spent $12,700,000,000 To Bail Out 10 Wealthy Depositors

That is a drop in the bucket compared to the $2.9 Trillion Rabbi Dov Zackheim plundered for the Pentagon coffers.

That part of the Pentagon that was hit on 9-11-2001 is where auditors were poring over the books to find the fraud. ;)

"When bad men combine, the good must associate; else they will fall, one by one." Edmund Burke

BTP Holdings  posted on  2023-06-27   21:27:27 ET  Reply   Trace   Private Reply  

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