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12-03-2023, 02:19 PM
https://www.reuters.com/business/finance...023-03-12/
Billionaire hedge fund manager Bill Ackman said in a tweet on Saturday that failure to protect all depositors could lead to the withdrawal of uninsured deposits from other institutions as well.
"These withdrawals will drain liquidity from community, regional and other banks and begin the destruction of these important institutions," Ackman warned.
Kyle Bass, founder and chief investment officer of Hayman Capital Management, told Reuters that the Fed needed to "arrange a marriage" for SVB by Sunday evening, before markets opened in Asia.
"And they've got to assure depositors that they will be paid in full because of this merger, and restore stability in the banking system," he added.
Billionaire hedge fund manager Bill Ackman said in a tweet on Saturday that failure to protect all depositors could lead to the withdrawal of uninsured deposits from other institutions as well.
"These withdrawals will drain liquidity from community, regional and other banks and begin the destruction of these important institutions," Ackman warned.
Kyle Bass, founder and chief investment officer of Hayman Capital Management, told Reuters that the Fed needed to "arrange a marriage" for SVB by Sunday evening, before markets opened in Asia.
"And they've got to assure depositors that they will be paid in full because of this merger, and restore stability in the banking system," he added.
