I don't think that's quite correct. The special assessment is based on the amount of uninsured deposits at the banks.
Yes, they assessed the banks. The banks had to pass that cost on somewhere. Either shareholders (one group of us) got a lower return, another group (employees) got less pay, or a third group (ie consumers) got hit with excess interest and fees. There isn't a free lunch, so while it may have been dressed up with nice sounding words like "special fees" and said to be paid for by "the big banks" to confuse people, the reality is people who did not exceed the FDIC limit at SVB paid for a bailout of those who did.
Statistics: Posted by Lyrrad — Fri Jun 28, 2024 3:15 am