Janet Yellen Admitted FDIC Backstopping of SVB Could Protect Foreign Depositors
| Claim: | Janet Yellen Admitted FDIC Backstopping of SVB Could Protect Foreign Depositors |
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| Rating: |
True
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| Finding: | "Uninsured investors will be made whole in that Bank. And I suppose that could include foreign depositors, but I don't believe there is any legal basis..." |
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COMPLETE REDPILL(true) |
1Janet Yellen admitted FDIC backstopping of SVB could protect foreign depositors
Verdict: True.
On March 16, 2023, Treasury Secretary Janet Yellen admitted that the backstopping and insurance of the deposit withdrawals at SVB and Signature Bank could benefit foreign depositors including China and the Chinese Communist Party. When asked about this, she said:
Uninsured investors will be made whole in that Bank. And I suppose that could include foreign depositors, but I don’t believe there is any legal basis to discriminate among uninsured.
Clip of Treasury Secretary Janet Yellen on SVB depositors, 16 March 2023.
Here is the snippet: pic.twitter.com/85iBeXC0Wn
— Seidler (@SeidlerCorp) March 17, 2023
In plain language:
Yes. Janet Yellen admitted FDIC backstopping of SVB could protect foreign depositors.
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COMPLETE REDPILL(true) |
