I agree with you. I listened to the usually fantastic All In Podcast yesterday. Usually, I find the content very interesting but yesterday I felt like all four of them were all about protecting their little world.
To me, it sounds like SVB cut a lot of corners and SV customers enjoyed advantages of some of these cut corners.
I am deeply sympathetic to people who may not get paid for a while, or have their startups go under. That said, there are precise laws covering what the FDIC can and can not do. I think the general public is tired of very connected people and companies getting special treatment.
There is certainly a danger of contagion, of regional banks taking a hit, by being compared to SVB, but that does not change my opinion, and I certainly will not stop doing business with two relatively small Credit Unions in my state.
To me, it sounds like SVB cut a lot of corners and SV customers enjoyed advantages of some of these cut corners.
I am deeply sympathetic to people who may not get paid for a while, or have their startups go under. That said, there are precise laws covering what the FDIC can and can not do. I think the general public is tired of very connected people and companies getting special treatment.
There is certainly a danger of contagion, of regional banks taking a hit, by being compared to SVB, but that does not change my opinion, and I certainly will not stop doing business with two relatively small Credit Unions in my state.