Birdwatch Note Rating
2023-03-18 14:27:40 UTC - SOMEWHAT_HELPFUL
Rated by Participant: 1E63C4F17963B9C5B4489BFDF29FE99946F4AFDBE9F44C5F9A9F6119EB7A78A4
Participant Details
Original Note:
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
All Note Details