Silicon Valley Bank and Tesla suppliers

garsh said:

Boy, those words are coming back to bite me now, aren't they.

My credit union just sent out an email in the wake of the SV bank failure.

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How does this change what you said before?

garsh said:

The part about banks automatically being trustworthy.

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I guess I just don’t see any reason to panic still. Maybe I’ve missed something, but I think the government stepped in and still guaranteed everyone’s money.

garsh said:

It's a little scary to think that customer's money would have been lost if it hadn't been for the government stepping in.

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Isn’t that why there is the FDIC though? It guarantees you won’t be out your money (at least to $250k) if a bank goes bankrupt. The bank made mistakes that caused failure, but the safety system worked as intended.