Josh Hansen: "Silicon Valley Bank: how can we reconcile..."

Josh Hansen @me@joshhansen.tech

Hacker-poet. Learn Something cofounder & CTO. Creator of Seattle Poetry Meetup. To me everything is craft; everything is creativity.

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Josh Hansen

@me@joshhansen.tech

Silicon Valley Bank: how can we reconcile these claims?

All deposits, not just the usual $250k, will be insured
No taxpayer funds will be used.
SVB is a failed bank

Is this basically a bankruptcy, but where deposits are prioritized over everything else?

Also wondering: why was the Federal Reserve part of the announcement?

What is the legal basis for adjusting the deposit insurance limit from $250k to $∞ after the fact, without new legislation?