6min chapter

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The Bank of Silicon Valley Just Collapsed - WAN Show March 10, 2023

The WAN Show

CHAPTER

Do You Know What Minimum Wage Is?

The Federal Deposit Insurance Corporation says that standard deposit insurance amount is $250,000 per deposit or per insured bank for each account ownership category. "We are pretty much in the same situation as if this happened to the bank that you're with" If SVB's deposits don't come out, it's gone and they can't get them back from a third party. The company has more than 100 full-time employees but doesn't pay minimum wage.

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