Biden is a liability to anyone involved with him. He has been bought by corrupt payments and graft but he is no asset.

Nice work !

Shoot your own home/comparable size rooms to get the kinks worked out. I shoot all my own rentals/real estate and generally agree with all the tricks stated above. I use flash to fill/even out light when needed. Make sure you can pull that arrow if you find the site needs it.

per FDIC

The t***sfer of all the deposits was completed under the systemic risk exception approved yesterday. All depositors of the institution will be made whole. No losses associated with the resolution of Silicon Valley Bank will be borne by taxpayers. Shareholders and certain unsecured debt holders will not be protected. Senior management has also been removed. Any losses to the Deposit Insurance Fund to support uninsured depositors will be recovered by a special assessment on banks, as required by law.

The FDIC insures deposits to $250,000. Full Stop.
The unlimited coverage will cost the FDIC insurance fund the amount provided to the account holders.
The FDIC has already notified the insured banks of the need to replenish the insurance fund through a surcharge. The normal FDIC insurance premium is fractions of cents on the dollar. Average 24 cents per hundred. Highest 42 cents per hundred. That does not go very far.

I agree it is not a bailout by taxpayers. It is, however, the alteration of the FDIC policy to cover the deposits in full. The question is for whose benefit and why? And it will result in a surcharge on all banks to cover the customers of only a handful. The inequitable treatment needs to be examined.

Sobering, lucid and well written. The tone is hyperbolic but it seems no one wants to listen. Hope almost none of it comes to pass. The entire financial system is built on the concept of perception. If that perception changes there is no reality to fortify it. I tried to determine the FDIC exposure and could only guess from the vagueness at 28 Trillion. Who will make that good? That is where the perception comes in - you only have to have part of it until the furor dies down and people lose focus once more.
"But its insured!" to which one responds "Insured by what and whom?"
Lehman Bros took several weeks of fits and starts to fail. I have June circled on the calendar as to when one might take a breath.

The treasury bonds are worth 100 cents on the dollar at maturity. They are valued by the market until that date and the market price declines as interest rates rise. That is the crux of the problem. The banks had to sell bonds before maturity and they had declined in value. They are guaranteed, by the Treasury, to be worth a dollar when mature but the bank depositors want their money now. The Fed is merely giving them the $1 cash value of the bond now as opposed to 6 mos, 1 yr, 2yrs down the road. Still pretty squirrelly but not nefarious. Bonds had declined but not from 100 to 85. Generally from say 98 to 96. And the remarkable thing is that when the crap hit the fan everyone fled to Ts and ran the price up! Old issue 10 years sell for 105.734 today - a Premium - but depends when you bought yours whether you paid more or less. Only the shorter terms are trading at a discount now so I would think the banks are moving those first. The terms of the federal offer are what matter but it isn't a bailout in that sense. And it isn't a 100 vs 85 ~ 15% delta. The largest discount right now is new one years at 96.159. But that discount is what generates the yield when you buy them. And it does hurt and add up if you have to sell a billion in bonds at a 2 cent loss = 20 million.
If the bank execs bought high yield corporate bonds - I hope they get indicted in addition to already being fired.

And if you think FDIC insurance is a fortress - think of this. The highest premium for the highest risk bank is 42 basis points per annum. .0042. They insure the highest risk crappiest banks $100 for 42 cents a year. Which is why they are indicating a "special assessment' is coming after only a few banks have failed.

Nice set. I thought Tigers didn't like the water. Guess it has to be cold water.

That is actually a good example using SSN. It delineates the coverage by ownership. That owner then has coverage of 250K per CATEGORY at each bank. Not per bank and, like you said, not per account. They can have five individual accounts covered to 250k total. Their half of 3 joint accounts covered to 250k total. Their 4 IRA accounts covered to 250K total.

Thanks Steve. Just trying to help. The banks are unfortunately of little help as the staff is under 30 and the last time FDIC was important was 1930. So they started checking messages and watching videos during that part of the training class.
Example you have a Husband checking 250, Wife checking 250, and Joint checking 500. If the bank enters that data into the FDIC software - AT THE SAME TIME the answer will be 500K. If they properly enter one person and calculate it the answer is 500K. Then enter the data for the other spouse they will get 500K. Each has 500K coverage for a 1M total. The proper configuration for checking/CDs/savings is 250 in each individual name and 500 in a joint account. Again checking, savings,CDs, Mon mrkt are all the same animal. I used the term checking simply for brevity.

Tomorrow someone start a thread on SIPC brokerage insurance so heads can really explode.

Clearly the worst thing is to erroneously indicate that I was mistaken as others may be trying to get this straight.

From the first 3 lines of the FDICs representation you can see that a couple with 2 separate individual accounts of 250k and a joint account of 500k has 1M of coverage.

If anyone wants to utilize the category approach as I outlined it will become clear.
I would say anyone who has read through all this now knows more than anyone at a retail bank branch.