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insurance for deposits saving grace for deposit fors as of much as $220 billiony uninsured. move to prevent a run on additional banks makes it so the tech company as it banked with svb can make payroll. at least 29y impacted pinterest, zip recruiter just to name a few. separately the same has been done for new york signature bank which was shut down over the weekend. treasury secretary janet yellen says the action does not equal bailing out the banks. during the financial crisis there were investors and owners of stem large banks that were bailed out and we re certainly not looking and the reforms that have been put in place means that we re not going to do that again. but, we are concerned about the depositors and are focused on trying to meet their needs. so, unlike the great financial drivers stock and bond investors will not be protected by the move. and taxpayer money will not be injected. percy square agrees this was not a bailout. he wrote this on twitter, quote

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