Quote:
Originally Posted by BigBeauford
They will cover $250k, but only about $20B of their $170B is insured/protected. The company was scrambling to pull their money out, but $50B might be just gone.
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I'm a little confused here - are you talking about the bank or your friend's company?
The bank itself only had about $175B in deposits.
Regardless, HOPEFULLY they didn't tank so quickly that their assets are dramatically lower than deposits. That article says they had about $209B in assets vs. $175B in deposits as of December, so presumably people won't lose their asses TOO badly once everything gets liquidated and distributed. Could be messy during that process, though.