[HN Gopher] Silicon Valley Bank staff offered 45 days of work at...
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       Silicon Valley Bank staff offered 45 days of work at 1.5 times pay
        
       Author : mfiguiere
       Score  : 13 points
       Date   : 2023-03-11 19:16 UTC (3 hours ago)
        
 (HTM) web link (www.reuters.com)
 (TXT) w3m dump (www.reuters.com)
        
       | rkagerer wrote:
       | Who eats the cost of their salaries after FDIC took over and
       | deferred bankruptcy?
       | 
       | Will there be corporate assets left after all the debtors are
       | paid back (customers, vendors, etc), such that shareholders eat
       | this? If not, does that mean FDIC carries the risk of having to
       | pony up? Or will debtors take a haircut?
        
         | jdsully wrote:
         | The FDIC is funded by premiums paid for by the insured banks.
         | It doesn't rely on tax payer money.
        
           | cft wrote:
           | Once that is depleted, they are allowed to tap into Fed money
        
             | brasic wrote:
             | I'm sure you are aware but just to spell it out: fed money
             | is _also_ not taxpayer money, it's self-funded.
        
               | kQq9oHeAz6wLLS wrote:
               | Where does the fed get the money?
        
       | steveBK123 wrote:
       | A reminder that the unwind process will not be immediate. The
       | bank will open in some capacity Monday, with some access to some
       | % of balances. The full process could take longer than that.
        
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       (page generated 2023-03-11 23:02 UTC)