Bank of America Corp (BAC)

[StockLogistics]

LOL

“Are all uninsured deposits now covered by government guarantees?

No. The regulators said they were making an exception for SVB and Signature. The SVB action was taken in consultation with many regulators but also with President Biden -- indicating the unusual nature of their move. Signature was similarly protected under a "systemic risk exception" to backstop its uninsured deposits.”

But wait… That’s the known risk those depositors took to hoard their money as uninsured rather than invest it in their local community and in safer banks , now the local community is bailing out the wealthy money hoarders no matter what the gov says it’s a bailout, so they can hoard their money somewhere else and still not invest it in the local community.