MarketWatch/Clive McKeef/3-11-2023
“Already thousands of the fastest growing, most innovative venture-backed companies in the U.S. will begin to fail to make payroll next week.” – Bill Ackman, Pershing Square
USAGOLD note: Because the FDIC does not insure all of the money Silicon Valley companies had on deposit at SVB, Ackman is calling for a federal government bailout. We shouldn’t be surprised. It is unlikely, though, that the government can act as quickly as Ackman would like…… But there’s always the Fed with its emergency lending facilities, in which case, described as such or not, it would be back to QE in a heartbeat.
