Birdwatch Note Rating
2023-03-17 20:37:37 UTC - NOT_HELPFUL
Rated by Participant: A6CC796C1344D02DA90BEAE3CFA25635F9B96BD83E15B6EA16F4E9B900A7552E
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