Something along those lines. Smaller Aerospace company based out of Colorado.
[Reply]

So 250K if the deposits would be covered. So the 97.3% is the percentage of deposits not fully insured, not 97.3% of total deposited funds are not insured.

I think.

Still fucking bad.

Jesus. I’m getting the shakes just thinking about losing the miniscual amount I have uncovered.
[Reply]

I suspect you're hearing some hyperbolic numbers here. Lockheed Martin only has ~$50B in assets, and they're not exactly a "small startup."
[Reply]

Christ, I've been saying Billion, it's million not billion. Sorry for the accidental hyperbole.
[Reply]

Ha! OK. That makes far more sense. :-)
[Reply]

Yeah and that's honestly way worse. That means way more companies are going to get fucked.
[Reply]

That makes a little more sense. Not sure it changes the level of horrible.
[Reply]

That is some really interesting data on that chart. I wish I could find that somewhere where I can see it.
[Reply]

Apparently my work banks with them as well. That's...less than ideal.

Not sure the extent to which we have funds there, but they're at least in the portfolio.
[Reply]

Actually, as I dig around a bit, I think they're mostly an investor rather than our "bank." So we're in the assets column rather than the deposits column. Still, could get interesting to see how that plays out.
[Reply]

How many other banks are in the same death spiral? SVB weren't the only ones parking their assets in long term bonds.
[Reply]

Why don’t you open a cash management account with Fidelity? They layer your deposits across multiple institutions and its FDIC insured up to $3mm. And the rate (4.22%) is probably higher than your banks.
[Reply]

Jesus dude.

Go back and edit all your posts now! :-)
[Reply]

Probably not too many. SVB balance sheet was made up of a high a percentage of long term, low yield assets.
[Reply]

I just bought 10 shares of QYLD because of all this mayhem. Must save myself!
[Reply]