@ipissthemoff@trincaoprop@Corner_Coyote It’s just a positive post meant to celebrate the things he accomplished. We all know he fell short…no need to be so negative all of the time
@justsettledownn@ITARviolation I 100% agree with you in practice brother — I’m just being a bit anal about the lack of an explicit, binding guarantee. My career is in this exact, specific field (counterparty credit risk) which is why I made the comment in the first place. But yes, the govt will generally cover
@boarcoder@ITARviolation Yes? I’m not claiming to speak to every possible scenario and option? I’m just saying if you put it all in a singular bank account, there isn’t zero risk there. Which is true. Almost zero, but not zero
@justsettledownn@ITARviolation Good example was SVB which failed in 2023. Large deposit balances that weren’t insured by the FDIC. There was a bank run and a liquidity crisis, SVB failed, and other banks had to pick up the slack to make depositors whole
@justsettledownn@ITARviolation Can you clarify? Banks can fail. The government usually steps in and insures depositors, but other banks have to pay for it. But that scenario isn’t explicitly guaranteed, so there is a degree of risk involved. Only $250k is guaranteed.