Birdwatch Archive

Birdwatch Note

2023-03-17 16:22:30 UTC - MISINFORMED_OR_POTENTIALLY_MISLEADING

Taxpayer money is not being used to cover the deposits at Silicon Valley Bank. Deposits are being paid for using funds from the Deposit Insurance Fund, which is a program that is funded by fees paid by banks and interest earned on government bonds, not funds from taxpayers https://www.fdic.gov/news/press-releases/2023/pr23019.html https://www.cnbc.com/2023/03/13/wall-street-not-taxpayers-will-pay-for-the-svb-and-signature-deposit-relief-plans-.html

Written by 027B516708F571C1E3103457D302784DCC8350E7ECDA5CC91E4B4D93429620A9
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• noteAuthorParticipantId - 027B516708F571C1E3103457D302784DCC8350E7ECDA5CC91E4B4D93429620A9 Participant Details
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• classification - MISINFORMED_OR_POTENTIALLY_MISLEADING
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• summary
• Taxpayer money is not being used to cover the deposits at Silicon Valley Bank. Deposits are being paid for using funds from the Deposit Insurance Fund, which is a program that is funded by fees paid by banks and interest earned on government bonds, not funds from taxpayers https://www.fdic.gov/news/press-releases/2023/pr23019.html https://www.cnbc.com/2023/03/13/wall-street-not-taxpayers-will-pay-for-the-svb-and-signature-deposit-relief-plans-.html