Quote:
Originally Posted by opendoor
It doesn't sound like taxpayer money is funding it. The statement specifically says that no losses as a result of this will be borne by taxpayers, so presumably there are enough assets to cover depositors. Or perhaps the FDIC (which isn't funded by taxpayers) will be covering more than it normally would to make everyone whole.
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Well that's great news if they can pull it off without taxpayers footing the bill. Any idea how the FDIC would cover this? Is it just that much in their self interests to keep things from falling apart to pony up and prevent a bunch of potential future claims if more banks fail?