I don't claim the be a smart man, the government bailing out all the deposits of SVB is absurd. The FDIC protects deposits up to 250k and I want to protect that. If another private institution wants to come in and buy SVB and protect the rest of the depos, great. But the fact that the government is coming and saying the all deposits will be covered is another instance of looking out for millionaires and screwing over the common man.
SVB screwed up. Should have had money saved for a rainy day because that's what I'm told when a recession hits.
Socialism for millionaires but capitalism for everyone else.