Final weekend, U.S. policymakers went all in on bailing out two medium-size banks: Silicon Valley Financial institution and Signature Financial institution.

And sure, they have been bailouts. I want the Biden administration weren’t attempting to say in any other case. Sure, stockholders have been cleaned out. However legally, deposits are insured solely as much as $250,000; by selecting to make all depositors complete, the feds have achieved holders of huge accounts a significant favor.

It’s true that losses, if any — it’s not clear whether or not both financial institution was bancrupt, as…

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