Birdwatch Note Rating
2023-03-18 01:02:01 UTC - NOT_HELPFUL
Rated by Participant: D9F19D10C08C0CD0562FAC57C0A69E9E1A472C7037CC3C2496A0D678135F1686
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