“That’s how capitalism works”!!
Has he been scrolling r/antiwork and r/collapse, signing in at the Bear of Hex, keep a copy of the Communist Manifesto bedside?
Is this just a joke?
On a serious note, if it’s not, how far are the puppets in government prepared to go in what could be a cataclysmic moment of comeuppance for the Economic Terrorists of Wall St?
They can't buy additional insurance to cover larger deposits (not FDIC)?
There is a deposit product called Insured Cash Sweeps (ICS) which moves chunks of 250k around to different banks. SVB supposedly offered this product and yet no one was using it
There's no market for that currently.
And there will never be one because of this.