longer have the tools to stop this. We're not going to wait until the next bank, whether it's called US Bank, called PNC, some bigger bank, some more systemic bank is already in receivership. So what are the important details of the government's rescue that are relevant here, that we should focus on and try to understand? So the biggest thing is the FDIC is standing behind uninsured depositors in SVB and in signature, both banks that it took over. So it used to have authorities to stand behind to basically write such a program for the whole system. It's since lost that authority in the law. But it's taken over these two banks, it's standing behind the uninsured depositors. So that's a big piece. And I think that was the biggest concern. And that was probably their biggest motivation. Shareholders will be wiped out. Management has been removed from these banks. Unsecured bondholders will get some sort of share of their investment, but that remains to be seen in liquidation. So that's (18/36)
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