Federal Regulators Will Ensure All Silicon Valley Bank Depositors Are Paid

nytimes.com

11 points·logn··4 comments

When the Fed says this

>“depositors will have access to all of their money starting Monday, March 13. No losses associated with the resolution of Silicon Valley Bank will be borne by the taxpayer.”

It's largely undone by this

> “any losses to the Deposit Insurance Fund to support uninsured depositors will be recovered by a special assessment on banks, as required by law.”

because that just means the costs will be paid by all U.S. banks which means it comes out of bank fees/costs borne by U.S. banking customers (ie almost everyone).

To your point, it's always the consumers / taxpayers that pay. Fine a company? That ends up in the price? "Tax" a "service provider" (e.g., banks) and that will ultimately be paid by the consumer.

And so on.

The Fed (and others) are going to do what they're going to do. My only wish is they stop with the euphemisms and the insulting of our collective intelligence.

> My only wish is they stop with the euphemisms

Yeah, it kind of stuns me that this apparently works well enough for them to bother with the deception. I suspect it depends on a significant portion of the media choosing to just print quotes without highlighting the obvious implications. Sadly, I've noticed that highlighting such 'polite fictions' (or not) tends to vary in relation to the media outlet's political alignment with the party in power at the moment.

> depositors will have access to all of their money starting Monday, March 13

More funny language. Why use the word "starting" instead of "on"?

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