Some other hot takes on this situation from Twitter users
There’s something very ugly happening right now: VCs & startup execs who stand to lose their deposits at SVB are going *out of their way* to push a narrative that there’ll be a bank run on Monday if SVB depositors aren’t bailed out by the government. They’re yelling fire in the…
— Vivek Ramaswamy (@VivekGRamaswamy) March 12, 2023
From a source I trust: @SVB_Financial depositors will get ~50% on Mon/Tues and the balance based on realized value over the next 3-6 months. If this proves true, I expect there will be bank runs beginning Monday am at a large number of non-SIB banks. No company will take even a…
— Bill Ackman (@BillAckman) March 11, 2023
Unusual Whales gives us BREAKING NEWS on SVB
BREAKING: The FDIC has started an auction for SVB, with final bids due later this afternoon. The result may not come until tonight, per Bloomberg.
— unusual_whales (@unusual_whales) March 12, 2023
Some other users funny takes on this not so funny situation
Me showing my wife our $30 million trapped at SVB are now worth $250k pic.twitter.com/wa2GwAVRJ8
— Not Jerome Powell (@alifarhat79) March 12, 2023
South Park calls it again.
This is basically SVB, Wells Fargo, JP Morgan, Bank of America, and Citi right now. Covid proved our government has no issues letting our businesses fail. No bailouts. You don’t deserve a bailout for financial mismanagement.pic.twitter.com/ijTOZdlO1h
— Greg ???????? (@gregissnacking) March 12, 2023
Let’s hope everyone who had money invested with SVB is made whole and taken care of.