The FDIC's Backing Up of the SB Deal

"It sounds to me and I'm nobody's economist. But just from a layman's view, it sounds a little, if not destabilizing certainly beyond the pale," he says. "The FDIC backing up these deposits that these two banks that fell over the weekend, which I do want to say something about." The treasury actually set up a whole new program over the weekend to allow banks in general and the deposit holding institutions to basically cash in on some of their treasury holdings. They're just gonna pretend like we haven't raised rates, pretend like this stuff hasn't lost value and we'll let you borrow against it at par.