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The first thing to do is you guarantee deposits, okay, on a temporary basis where that temporary guarantee stays in place until they update the FDIC insurance program to have a greater than $250K guarantees per account... If they don't do that, my expectation is that people are still going to be concerned, and people like yourself are going to move from Silicon Valley Bank to the JP Morgan's of the
world.
Bill Ackman
Bill's Plea to the Fed: Guarantee All Deposits Until the FDIC Insurance Program Is Updated
20VC: Bill Ackman on The Banking Crisis, What the Fed Should Do, The Three-Tiered Banking System, Why SVB is the Safest, Why Jamie Dimon Should Run For President & Investing Lessons; Losing $400M on Netflix and Making $2.8BN in COVID
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