{"id":38477,"date":"2023-03-16T11:32:17","date_gmt":"2023-03-16T16:32:17","guid":{"rendered":"https:\/\/huewhite.com\/umb\/?p=38477"},"modified":"2023-03-19T13:18:08","modified_gmt":"2023-03-19T18:18:08","slug":"maybe-i-just-dont-understand","status":"publish","type":"post","link":"https:\/\/huewhite.com\/umb\/2023\/03\/16\/maybe-i-just-dont-understand\/","title":{"rendered":"Maybe I Just Don’t Understand"},"content":{"rendered":"

Accounts are FDIC<\/strong>-insured up to $250,000.<\/em><\/p>\n

That used to be a common part of bank commercials. Maybe it still is. So why this?<\/p>\n

According to S&P Global, entities had $151.6 billion in uninsured deposits at Silicon Valley Bank, or 93.9 percent of the company\u2019s total holdings. [WaPo<\/strong><\/a>]<\/em><\/p><\/blockquote>\n

I presume, from context, that company’s<\/em> means SVB’s<\/strong><\/em>, recent victim of the complexity of the current financial system, or tactical financial blundering<\/a>.<\/p>\n

I’m amazed<\/em>.<\/p>\n

Don’t banks offer some sort of “spillover” feature, where no account owned by a company can have more than $250,000, and overflows cause new accounts to be automatically opened, registered with the FDIC<\/strong><\/em>, and used?<\/p>\n

This just seems like madness. No doubt it’s because I don’t work in the banking industry. Maybe the uninsured money was in uninsurable accounts that offered more return on more risk. But Still.<\/p>\n","protected":false},"excerpt":{"rendered":"

Accounts are FDIC-insured up to $250,000. That used to be a common part of bank commercials. Maybe it still is. So why this? According to S&P Global, entities had $151.6 billion in uninsured deposits at Silicon Valley Bank, or 93.9 percent of the company\u2019s total holdings. [WaPo] I presume, from \u2026 Continue reading → <\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"nf_dc_page":"","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-38477","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/huewhite.com\/umb\/wp-json\/wp\/v2\/posts\/38477","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/huewhite.com\/umb\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/huewhite.com\/umb\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/huewhite.com\/umb\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/huewhite.com\/umb\/wp-json\/wp\/v2\/comments?post=38477"}],"version-history":[{"count":3,"href":"https:\/\/huewhite.com\/umb\/wp-json\/wp\/v2\/posts\/38477\/revisions"}],"predecessor-version":[{"id":38501,"href":"https:\/\/huewhite.com\/umb\/wp-json\/wp\/v2\/posts\/38477\/revisions\/38501"}],"wp:attachment":[{"href":"https:\/\/huewhite.com\/umb\/wp-json\/wp\/v2\/media?parent=38477"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/huewhite.com\/umb\/wp-json\/wp\/v2\/categories?post=38477"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/huewhite.com\/umb\/wp-json\/wp\/v2\/tags?post=38477"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}