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I don't think this is within the existing authority of the FDIC, or Federal Reserve to do. I'm not an expert, so happy to be corrected, but given where things are currently -- with SBV closed, assets transferred to the Deposit Insurance Bank of Santa Clara -- I believe this would take an act of Congress.

And I sincerely doubt there is appetite in Congress for a bank bailout for Big Tech.

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I appreciate that's perhaps how it'll be viewed, but let's be clear here: "big tech" is not being bailed out. Apple, Google, Meta, etc. do not have a substantial portion of their cash in SVB. Sequoia, Andreesen, etc. do not have a substantial portion of their fund in SVB (most of it is kept by their LPs until actually used). Investors of SVB are not being bailed out -- shareholders exit last (as they should).

The people being "bailed out" are the owners and employees of small businesses and startups that, just by nature of having a deposit as SVB, unconsciously acted as a creditor to an institution that had an 'A' credit rating by Moody's, a 'Buy' rating by JPM, and had passed whatever monitoring and risk tolerance requirements put in place by the Fed.

Completely agree, that part of my comment was only meant to speak to the political environment.

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