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‘The government has about 48 hours to fix a soon-to-be-irreversible mistake’: Hedge-fund titan Bill Ackman warns some businesses may not be able to meet payroll in wake of SVB’s failure

Por: MarketWatch Politics March 12, 2023

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“By allowing SVB Financial to fail without protecting all depositors, the world has woken up to what an uninsured deposit is — an unsecured illiquid claim on a failed bank. Absent JPMorgan or Citi or Bank of America acquiring SVB before the open on Monday, a prospect I believe to be unlikely, or the government guaranteeing all of SVB’s deposits, the giant sucking sound you will hear will be the withdrawal of substantially all uninsured... + full article



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