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i’m a huge @ddayen fan, and i agree that SVB’s customer base is particularly unsympathetic.

but the idea businesses should in general split deposits or use CDARSes and other techniques that basically game the deposit insurance limit is not ideal. if they do, it puts FDIC on the hook anyway, but at waste of lots of people’s time, generates unnecessary complexity, creates fee opportunities for new species of useless finance professionals. 1/

https://prospect.org/economy/2023-03-13-silicon-valley-bank-bailout-deregulation/