Billionaire investor Bill Ackman says SVB was not a bailout: ‘The people who screwed up will bear the consequences’

They will all have to get jobs at another bank! Oh how awful.

Funny because one of the SVB executives was the CFO of Lehman Brothers in 2007…

I mean he is correct, it’s literally not a bailout. The investors, shareholders and owners of the banks will lose their money. The executives are shit-canned. As it should be. The depositors (Joe Public and Main Street Business) will get all of their money back. Other banks will bear the cost of this through higher FDIC insurance premiums. Taxpayers will pay ZERO DOLLARS for this to happen. ZERO.

This is literally the ideal outcome, why are people acting like this is a bad thing?

The way they “have the other banks pay for the fund”
Is literally just going to be those banks raising rates on their customers so they don’t take a profit loss

That way the government can pretend it’s not a bail out

Because the people / taxpayers are still going to pay for it this way, just indirectly by raising fees from all the other banks instead of up front from tax money

So they’re going to lose all their money, and go to jail? Or will they go sky diving with their golden parachutes?

Every bank is now going to try and swap out their low yield treasuries for the par yield treasuries. Free money!

And this is all happening with no congressional approval.

Ackerman is a hack.

They’ll be punished with parachutes of gold..

Have they ever said why the banks have failed besides for the customers withdrawing money from them.

Yeah that’s the spot baby. Lie to me good!

They got bonuses last minute and Fed is paying them 1.5 times salary for 45 days. We all should screw up at our jobs to get this deal!

The people who screwed up took their bonuses hours before the FDIC took over SVB. True Story

No one will ever see a day in court or ever be fined… just like 2007.

Retroactive insurance sounds like a bailout. It also sounds like back-dated stock options for executives.

Oh yes the guilty rich guys always face the music….while poor crooks get to lounge in a comfy prison

They announced executive bonuses the same day that the government took over. This was a bailout and the scammers will get away with every penny they can, and will have no consequences.

Why reference some like Bill Ackman? This guy feigned worry on msnbc then went ahead immediately to buy said stock

I remember him making 1.2 billion on that (?). 1.(something billion)

How does he figure?

Who is going to make the depositors whole? Other banks that didn’t screw up…. well where are they getting the special FDIC levy money from? Their customers and investors and of course it’ll be an expense so…. This is a tax, pure and simple, it’s just not being paid by the government directly. Where is the moral hazard if the government is going to step in and save all these people who can’t save themselves. What Ayn Rand right? I’m starting to wonder…

Believe it when I see it. Execs are rarely held accountable in any meangful or deterrent way.

Maybe we shouldn’t listen to billionaires about shit like this?

So much misinformation it this thread…

Trump will never bear any consequences.

If it isn’t a bail out, let them handle their own problems and go after Peter Thiel.

Iceland was the only country to penalize the bankers who pulled off the 2008 collapse. Not only did the bankers get away with it, but our governments also paid them billions more of our money to fix the problem of them screwing us. Bankers didn’t fix the problem, they came up with a fall-guy solution to blame it on when they get caught. It will happen again, but it will be somebody else’s fault when it does.