ugh fine here is my SVB thread:
— Sam Altman (@sama) March 12, 2023
TL;DR: at this point, to be certain of avoiding catastrophe, the FDIC needs to temporarily guarantee all deposits. other solutions might work, but this is the best one.
Don’t entirely disagree but let’s see what happens monday
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Sums it up pretty nicely.
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It's an excellent point. Hopefully the FDIC sends out a large advance dividend and this whole thing leaves them looking like the greedy pigs they are. If the FDIC sends out a small chunk of change, it'll cause problems everywhere, and these losers will get to pretend they were ackchually looking out for the little guy.
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Very articulate statement more poignant than most major media reports
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hot take: the fdic should guarantee the bank accounts up to 250k like they literally say they will. I know, I'm a bit of an extremist.
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The main problem with that is people dont suffer like they should we need to foreclose on every depositer for no reason immediately
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