'The billionaire bailout': FDIC chair says the biggest deposit accounts at SVB held $13 billion

"The billionaire bailout": FDIC chair says the biggest deposit accounts at SVB held $13 billion

"The core reason SVB's depositors got bailed out had little to do with morals or even financial risk": critic.

'The billionaire bailout': FDIC Chair says the biggest deposit accounts at SVB held $13 billion

In prepared testimony for a Senate Banking Committee hearing slated for Tuesday morning, the chair of the Federal Deposit Insurance Corporation reveals that the 10 largest deposit accounts at Silicon Valley Bank held a combined $13.3 billion, a detail that's likely to intensify criticism of federal regulators' intervention in the firm's recent collapse.When SVB was spiraling earlier this month, the FDIC, Treasury Department, and Federal Reserve …

'The billionaire bailout': FDIC chair says the biggest deposit accounts at SVB held $13 billion

In prepared testimony for a Senate Banking Committee hearing slated for Tuesday morning, the chair of the Federal Deposit Insurance Corporation reveals that the 10 largest deposit accounts at Silicon Valley Bank held a combined $13.3 billion, a detail that's likely to intensify criticism of federal ...

The 10 Largest Deposit Accounts at SVB Held $13 Billion, FDIC Chair Says

One researcher called the SVB bailout "a good illustration of the enormous class bias in American policymaking."