Birdwatch Note Rating
2023-03-19 00:00:42 UTC - HELPFUL
Rated by Participant: F15DCE30DC01DEBC6A1DD88686AFF712123D8385121FD1179CB7EC95A69ED156
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