Anyone surprised the gov is going to cover all deposits from the Silicone Valley Bank failure?

No...I am complaining about the special treatment for ALL the depositors at these 2 banks.   

Then what was the purpose of singling out Oprah, Pelosi and the royals?  Biased a bit - noooooo.

Because these high profile clients and green tech firms, are the reason for the waiving of the rules.  

You know, trying to make you see that these banks are being propped up not because of the high profile depositors but because the LITTLE depositors would be even more harmed is an impossible task, so I am done.

NO....the LITTLE depositors are protected.  This post was edited by my2cents at March 21, 2023 2:15 PM MDT

I wouldn't need them to do that for me because I would NEVER put more than the insured amount into one account - big bank or small.  

Well, if you are smart enough to put your money in separate banks to protect yourself, why shouldn't these other people be expected to be smart enough to do the same? This post was edited by my2cents at March 21, 2023 2:17 PM MDT

Because it would take more banks than are available to open accounts for millions of dollars.

There 27,819 FDIC insured institutions in the US.  

For a single person with $1M, they would need to use 4 different banks.  Or 2 if they have different types of accounts (ie. checking and CD) just the 1 if they have one of each of these ownership types.  Single accounts, certain retirement accounts and employee benefit plan accounts, joint accounts, trust accounts, business accounts 

A married couple would only need with a total of $1M could do it with 1 bank.  (1 single checking for wife, 1 single checking for husband, 1 joint checking, and 1 CD) or some other combination of the ownership types. 

For $1B,  a single person would need 4,000 banks or 2,000 or fewer depending on the type accounts.  
Again a married couple would need 1,000 depending on the types.

There are 27,819 listed on the FDIC website.  https://banks.data.fdic.gov/docs/
(I downloaded the list to excel to see the number)

And most people with that kind of money, do not have it sitting in the bank.  It is in stocks, precious metals, etc.

Should be just remove the FDIC limit and ensure it all 100% regardless?  Whatever we do it should be, the same rules for everybody.   

Well, since you brought up that most people with that kind of money don't have it sitting in the bank, then the people they are trying to protect are the smaller depositors who, clearly, outnumber the Oprahs, Pelosis and royals so what's your point?  Wasn't it the small depositors about whom you were concerned?

Maybe, people should take some personal responsibility and make sure they use an FDIC insured bank. This post was edited by Spunky at March 22, 2023 7:00 AM MDT

Over 90% are over the FDIC limits....those are not small depositors.....
Small depositors will not be over the FDIC limit. (And are covered without the waiver)

You're all over the place here.  I have no idea what point you are trying to make.  Your last comment was about small depositors not getting a waiver.  Now you're saying 90% are over the limit and don't keep their millions in the bank.  I can't continue this discussion with you because I can't follow your disorganized thought process. This post was edited by Spunky at March 22, 2023 7:05 AM MDT

I have only one point.  

Then all your bluster about Oprah, Pelosi and the royals is motivated by your personal dislike for them and has nothing to do with "rules."

Nope. As I said we should never have This post was edited by my2cents at March 24, 2023 6:44 AM MDT

Oprah, Pelosi and the royals are NOT the reason for the special rules.  You make it sound as though they are the only three depositors in the banks. You don't even realize how ridiculous you sound.  Stop singling them out already.  We know you hate them.  Enough.

I do not hate them....

The FDIC is not enforcing the $250k insurance limit for SVB or Signature Bank.  

I just like to see rules and laws enforced equally and fairly. 
The rules on this  say each depositor is insured for up to $250k. 
That is what they should be following. Regardless of the political leanings of the depositors. 

Was it fair for Trump to remove banking regulations but leave the FDIC insurance? Had regulations been left in place, this would not have happened. If the accounts weren't insured,  depositors would have realized the risk. And have you thought about the ramifications to the economy if depositors lose their money? It's fine to be against the bailout, but I get the sense you don't have a very deep understanding of the situation and why there is no simple answer. 

This post was edited by my2cents at March 21, 2023 2:18 PM MDT

Which means you can’t blame President Biden like you want to.

Did I say Biden admin? No, I said the GOV....the FDiC is part of the GOVERNMENT. I blame Janet Yellen of the Treasury Department, the Federal Deposit Insurance Corporation (FDIC) and the US Federal Reserve as they are the ones who voted to waive the rules.