This is not a bailout in the historical sense of the word. Equity holders in the bank are getting nothing. They'll be wiped out. Senior leadership has been removed.
All this did was protect _depositors_, the people who put their money in the bank and thought it would be there tomorrow. And it's being done by dipping further into the FDIC fund, which is paid by banks. It will reach down to taxpayers likely through reduced rates or increased fees.
All this did was protect _depositors_, the people who put their money in the bank and thought it would be there tomorrow. And it's being done by dipping further into the FDIC fund, which is paid by banks. It will reach down to taxpayers likely through reduced rates or increased fees.