The FDIC “mistakenly” releases document showing U.S. gov spent $12 billion bailing out 10 wealthy depositors

by

The FDIC “mistakenly” releases complete version of a document showing U.S. government spent $12,700,000,000 to bail out 10 wealthy depositors amid banking crisis in March.

“10 depositors had $13.3B in SVB, that’s why the FDIC bailed them out. (Spoiler alert: They were Chinese accounts)
This wasn’t about systemic risk, it was about bailing out the billionaires who were caught.”

“They aren’t saving the financial system. They’re buying the banks time to unload their positions.”