On Mar. 13, 2023, Joe Biden outlined efforts to prevent a full blown banking crisis following the closure of Silicon Valley Bank. Images: WSJ/Getty Images Composite: Mark KellyLike many tech firms, my company and some of the startups we’ve created spent the weekend worrying as the fate of Silicon Valley Bank and its depositors hung in the balance. By Sunday the Federal Deposit Insurance Corp. announced that all was OK—no customers would lose any money.
I’m here to warn you that another bank could implode next. Indeed, just about anybody reading this could be at risk of losing everything over the FDIC’s $250,000 deposit insurance limit. Which bank am I talking about? Why, all of them, of course.
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opinion Which is why the regulations the Trump administration rolled back are needed, to mitigate some of the risk.
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opinion Go back and watch this scene in the movie. The first guy gets all of his money back. All of it. Dude is a hero in my opinion.
opinion perfectly predicted