The 250k isn't enough to hold them over for a week until the uninsured partial dividends get paid out?
I don't get how any of these companies are at risk of immediate failure. What I do see happening is these startups may lose some smallish percent of their account balance. These startups banked at a bank that actively lobbied for less regulation of risk and had over the FDIC insurance limit in their account so that seems entirely fair and reasonable.
To make matters worse, this petition is being put forward by a VC company that actively helped cause the crisis by encouraging a bank run.
However, instead of taking any of that responsibility, I see more fearmongering to get people on-board with socializing the losses.
I don't get how any of these companies are at risk of immediate failure. What I do see happening is these startups may lose some smallish percent of their account balance. These startups banked at a bank that actively lobbied for less regulation of risk and had over the FDIC insurance limit in their account so that seems entirely fair and reasonable.
To make matters worse, this petition is being put forward by a VC company that actively helped cause the crisis by encouraging a bank run.
However, instead of taking any of that responsibility, I see more fearmongering to get people on-board with socializing the losses.