FAIL
The Fed panicked.
People were running the banks which was threatening to bring the whole system down.
Since they are now obviously not ready to roll out their Digital Money scam, they collectively pissed down their legs and commited to backing everyon'e losses in the California bank.
RIGHT AFTER ANOTHERBANK FAILEDIN NEW YORK.
They are also monitoring the internet because the calls for people to run the banks again on Monday have been going out all weekend.
The MotherWEFers just took a punch in the mouth.
Don't forget the gravy.
They handed out bonuses right before it went tits up too.