Unfortunately, they couldn't sell the bank over the weekend, but it's great that they blew out management. It's good that the creditors will pay a price. The equity has been taken to zero. But The fact that they've insured the depositors, in essence, bailing out the uninsured depositors, I think is very problematic. on two levels. The first, if you're the landscaper who was a creditor, you just got wiped out, so your $15,000, you're not going to get paid. (02:57–03:06)
CLAIM
Asserts that insuring depositors at Silicon Valley Bank is problematic and constitutes a bailout.
This is an excerpt from a raw transcript. The assertions have not been audited or verified. Tap the video to view the source footage and understand the context.
