>How can I increase the amount of FDIC insurance beyond $250,000?
kek
great idea!
highlight the above question, then search on it.
Google's algorithm needs coaxing, kek
trips chkd
>Good news, account holders! In lieu of sending you your FDIC Insured balances, we will be making a donation to Ukraine in your name.
Farnsworth agrees
>many of the account holders were startup tech companies who kept their money at svb because that was where they borrowed it
>if you are a private person with $500,000 it would be irresponsible to keep it in one bank account or one bank
>if you are a company with $10 million or $50 million cash you would soon lose track of it if you spread $250,000 accounts over 50 or 100 banks
>think how much rolling cash goes through every day in a company like ford or tesla
Yeah but still; how much would it cost me as a business owner to pay someone to keep track of the accounts, versus, how much risk?
Most don't see the risk. So weird.
Changed the colors. :)
>>Yeah but still; how much would it cost me as a business owner to pay someone to keep track of the accounts, versus, how much risk?
>weird that they wouldn't think of that, huh?
No kidding.
Vernacular: "It's as safe as money in the bank!"
Long ago anon "did the math on banking" and saw it's a fraud ripe for an accident.
This seems the weekend.
>How can I increase the amount of FDIC insurance beyond $250,000?
In a memeing mood. :)
>No kidding.
>Vernacular: "It's as safe as money in the bank!"
>Long ago anon "did the math on banking" and saw it's a fraud ripe for an accident.
>This seems the weekend.
>kek
>https://www.scmp.com/news/world/united-states-canada/article/3213165/silicon-valley-bank-collapses-biggest-us-bank-failure-2008-crisis
TYB!
> >>18482978 How can I increase the amount of FDIC insurance beyond $250,000?
Consider adding below (picrel) to above?
TYB!
>companies cannot do business with a $250,000 cap on their accounts
>for instance a new john deere x9 1100 combine costs a million dollars- without a header
kek, nice hidden reference they used in their name
>so if you want to buy 2 you are just going to tell the implement dealer
>"no problem- i will get 8 or 10 checks for $250,000 each in the mail to you"
>then what will the dealer do? deposit the 10 $250,000 checks in seperate accounts?
Anon remembers learning musical chairs as a child; must have been a warning!
Companies can do business by adjusting their limits, that has always been the case with anything a business needs to deal with.
Risk assessment just wasn't taught in the MBA schools properly, apparently.
Timber!
https://www.youtube.com/watch?v=7dW73a5DEcQ
(kek, URL ends with a Q!)
>But more than 85% of the bank’s deposits were uninsured, according to estimates in a recent regulatory filing. That’s because FDIC deposit insurance is meant for everyday bank customers and maxes out at $250,000. <<Many Silicon Valley startups had millions, or even hundreds of millions of dollars deposited at the bank>>—money they used to run their companies and pay employees. Right now, nobody’s sure how much of that cash is left.
>https://www.jewishpress.com/news/israel/silicon-valley-bank-tanked-dragging-down-500-israeli-startups/2023/03/10/
Agreed!
Expedience (shortcuts) sometimes works out, until the event…
500 Israeli companies. That's a lot, isn't it?
Hmm, about 9,300 currently active tech companies.
So, that's more than 5% of them.
https://www.businesswire.com/news/home/20220301005686/en/Israel-Tech-Company-Database-2022-Detailed-Profiles-of-20200-High-Tech-Companies—ResearchAndMarkets.com
>you do not understand numbers ,business or banking
Apparently those companies who had unprotected liabilities didn't understand liabilities.
> if you like YMCA…
>MRNA by the Pillage People
Similar satire song; this one to tune of Kingston Trio's "MTA" about Charlie who never returned (what a pity).
https://odysee.com/@foundring:1/mrna-(speed-of-science)-original-song:3