The Silicon Valley Bank rescue means regulators have guaranteed deposits for the entire US financial system, Evercore founder Roger Altman says
The federal government's decision to guarantee all Silicon Valley Bank deposits indicates such backing will extend to the rest of the industry, Evercore founder Roger Altman said.
"The banking regulators decide to guarantee the deposit base of the entire US financial system, which is certainly what they just did," he said. It also raises the question on whether federal backing for deposits will limit shareholder returns."If the taxpayer is guaranteeing the key liability, should the taxpayer allow the shareholders to realize the benefit of that? I hope so," Altman said.
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