It's not the .01% though. Facebook, google, apple etc. Weren't touched by and had nothing in this happening.
Who do you think are the VC's in these tech startups?
Not those I listed. They ma have invested with VCs but they're full of liquied cash enough themselves that even if they did lose (they didn't) it wouldn't matter and they set deals up with no liability to themselves. Kind of like how brokers work and brokerage companies etc.
There is no liability if they fund a tech startup that has great buzz, but no long term legs. The list of these companies had valuations far in excess of potential earnings. The FDIC was to protect individual depositors. Now they are using it to have taxpayers (its coming) make good on their losses from speculative bets.
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