As WeLoveTrump noted, the Federal Reserve and Treasury Department caved amidst the Silicon Valley Bank collapse.
In an unprecedented Sunday night decision, they released a joint statement saying they will make all depositors whole — regardless of the $250,000 normal FDIC limit.
BREAKING: The Fed and Treasury Just Caved!
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After saying earlier that bailouts were off the table, we’re suddenly right back to 2008 again and protecting the rich and the “too big to fail.”
Per reports, Chinese and Israeli tech start-ups that relied on capital from Silicon Valley Bank were among the groups in a panic and hoping for a bailout to protect their deposits.
Silicon Valley Bank Reportedly “Served As a Bridge” For US Capital And Chinese Tech Start-Ups & Venture Capitalists
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