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USA: The financial meltdown is beginning. (www.nbcnews.com)

submitted 4 months ago by [email protected] to c/[email protected]

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They are keeping this quiet, but this affects 2.9% of US bank customers.

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[–] [email protected] 0 points 4 months ago (1 children)

Silicon Valley Bank was bailed out entirely by the FDIC. And so there were no liquidity issues. 2.9% of real people have been able to not access their money this time. That did not occur last time.

[–] [email protected] 0 points 4 months ago (1 children)

Eh, it's just fintech nonsense. As long as you don't use sketchy banking-esque products, you should be fine.

[–] [email protected] 0 points 4 months ago

For now, yes. Last year, it was tech. This year, it's fintech, which is still tech. And we've got the looming tsunami wave of commercial office space on the horizon, too. Last year, nobody had any issues getting their money. This time, 2.9% of people did. What will it be next time?