“2000, 2008, 2023. It is always the same,” Burry said in a now-deleted tweet.
In a joint statement on Sunday, the Treasury Department, Federal Reserve and FDIC said they were taking action “that fully protects all depositors” at SVB and another shuttered firm, Signature Bank in New York.
The feds said SVB depositors will have access to all of their money by Monday and that Signature Bank clients would be “made whole.” In both cases, taxpayers will not bear any costs.Photo by Tayfun Coskun/Anadolu Agency via Getty Images The bailout was aimed at curtailing fears that SVB’s downfall was a contagion event that would spread throughout the banking sector and cause further calamity.
just hours before SVB was shuttered, as evidence mounted that the California-based bank was in trouble.Burry is best known for successfully betting against the subprime mortgage market – the implosion of which played a key role in the economic turmoil of 2008.
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