March 29, 2024

Dem Rep. Harder: ‘Genie Is out’ after SVB and We’ll Need to Raise Amount of Deposits Protected ‘Pretty Dramatically’ Above $250K

On Wednesday’s broadcast of NBC’s “MTP Daily,” Rep. Josh Harder (D-CA) argued that covering deposits above the $250,000 limit in the case of Silicon Valley Bank (SVB) means “the genie is out of the bottle” and the limit on deposits covered by the FDIC has “implicitly been raised, but we need to make it explicit”

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