The Fed's Guarantee to Save the Banks

Silicon Valley Bank and the New York Bank that just went under largely because they cater to the wealthiest depositors. And if you're a wealthy depositor, you're smart enough to know that when the banks move into negative equity,. They can't cover the deposits, we'd better pull our deposits out now. Instead of making 0.2%, we want to make 4%. Also, that's what the Federal Reserve has done for us.