Loading ...BREAKING: Billionaire Investor Says Financial Meltdown Coming Monday Unless Biden Bails Out Silicon Valley Bank
ANOTHER
The government has 48 hours’: Billionaire investor Bill Ackman calls on Biden to bail out SVB by Monday MORNING or face catastrophic market meltdown and loss of tens of thousands of jobs
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SVB DIRECTORS DUMPED MASSIVE AMOUNT OF STOCK IN THE LAST FEW WEEKS ( UPSIDE DOWN !)
https://twitter.com/unusual_whales/status/1634664383874990080
While he has point it is only a small one and I don’t agree with him. Yes, there will be bank runs but anybody who keeps more than the maximum covered by FDIC insurance in an institution is stupid. They have known about this since at least the GFC. Spread it around. I don’t know if he is partially talking his book on some of his investments and the unintended consequences to them? If this gets people and businesses to diversify their holdings more broadly it is a positive. Not in the short termif in a panic but over a longer period of time. Maybe the FED and FDIC allow some type of grace period to allow people to move money in a tranched sysytem over time. Make the insurance limit a million for 30 days, 500,000 for 30 days after that etc.?