top | item 35115673

(no title)

garry | 3 years ago

We're asking for a backstop for deposits for small and medium sized businesses that will not survive without being able to make payroll.

discuss

order

tomato_123|3 years ago

"Small business depositors at Silicon Valley Bank should be made whole."

Don't beat around the bush. You are asking for these depositors to be bailed out. "Depositors" is a weaselly way to say "companies that my friends and I have major equity positions in."

If these are great businesses, they'll find financing. Current equity holders will suffer a loss. That's how it's supposed to work. Eat your lumps and don't go begging for a bailout for your foolish risk taking and lack of due diligence.

Understandably you're trying to maximize the value of the equity that you and your friends own. But it's a bad look to pretend this is about workers paying their mortgages. If that's what you cared about you'd be signing a petition for mortgage forbearance or some other direct-to-worker bailout.

Stop lying. It's transparent and pathetic.

LargeTomato|3 years ago

However you feel about the situation you have to admit there is a massive conflict of interest here. You have a clear financial incentive to have the American people bail out the companies you invest in.

muzz|3 years ago

If payroll is your primary concern, this seems like a roundabout way to go about it. Why not bridge them directly?