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Originally Posted by lewdog
Makes you wonder if you should have all assets over $250k separated into different accounts/institutions to protect from something like this. I've always been told no, it's not needed, however..............
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Of course you should. Absolutely. Though if you choose to do it, you’re likely safer with a Chase, Citi, or BOA.
And guys, re: the 1.3%. You do realize that during the largest financial crisis of our lives no depositors whether insured or uninsured lost money, right? Despite several hundred bank failures? There are assets against these bank deposits. And banks are so much more heavily regulated now than they had been (though a former unnamed president watered down regulations for smaller banks).
This SVB situation is super niche. They just did every stupid thing you could’ve done given their structure. Total mismanagement.