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   dew_the_dew (dew_the_dew@nicecrew.digital)'s status on Wednesday, 15-Mar-2023 00:34:56 JST dew_the_dew

   in reply to
   it's not the FDIC per se, it's the fed that bought the bonds (mostly mbs's) at face value so that the bank wouldn't have to sell them at market at a significant discount to get cash to cover withdrawals. for what it's worth, apparently the IMF is the final entity backstopping this not-FDIC-not-a-bailout operation. the net result is the same in regards to how it affects risk/reward for banking operations.
   
   https://nitter.lacontrevoie.fr/TyrantsMuse/status/1635083490256617474#m