"... it’s a bit audacious for the FDIC to blame anyone other than their own agency for Signature’s alleged managerial failures."
As it seems nobody is going to jail or losing their job with the government, then I’d say it’s all just a scam for more government control. If you leave your car windows down when it rains, the answer isn’t an expanded NOAA, the answer is don’t be an idiot. Likewise the losses at SVB were just as predictable if anyone cared.
The $250k FDIC limit should be increased, especially for business accounts, and certainly the fee structure should be such that my 86-year-old mom isn't paying for it through increased FDIC rates on her puny little deposit accounts. It's pretty common for even for sole-prop type businesses (farms & commercial) to run balances well over $1M from time to time just due to the ordinary ebb and flow of cash during their operating cycle. Everyone gets on edge at times (hell, just read QTR's Fringe Finance with all of the talk of immanent collapse of our financial system) and all of a sudden, what wasn't a big concern one day, becomes a scary possibility the next. I don't think that I'd lay these issues at the feet of the FDIC. Was it the FDIC's fault back in the late 1980's and early 1990's that the commercial real estate market took a dive when passive RE losses could no longer be offset against active income? Was it the FDICs fault that a bunch of liquidity was pumped into the market in 2020/2021 and then to get on top of the resulting inflation we engage in quantitative tightening and bump rates by 5%, killing the value of the marketable securities that are specifically held to provide liquidity in times like these? We need to raise that FDIC limit, especially for these business transaction accounts so that these folks can concentrate on their core business, not where they need to park their money.
Sadly, the U.S. government is crammed with criminals, who are NEVER punished, whereas low-level cronies - example ... (like Trump's cronies for example, who were paid by him for their criminality) go to prison.
In addition to the government in America, corporate America is loaded with liars and in abundance ... unforgiving corrupt people who are incapable of differentiating between their pathologica lies and the truth. The executives at the largest pharmaceutical companies together with the tobacco companies and chemical companies like Monsanto are as corrupt as they come. A lot of crime happens every day in the offices of certain financial firms on Wall Street, New York City.
Meanwhile, the government turns a blind eye to all of these corrupt entities and the devious players who run them.
This sort of immoral activity in government and in the business community for decades and decades and decades for at least 100 years.
Sadly, the vast majority of middle income Americans have no clue about what is happening in their country. As admiral as it is, they're simply too busy working 40 to 60 hours a week, struggling to support their families and to make mortgage or rent payments to contemplate or understand the realities described above.
The vast majority of these hard-working, law-abiding, church-going, HONEST Americans ... the (so-called) 'Middle Class' ... are being screwed left, right and centre on a daily basis by the idiots, liars and greedy morons in the US Congress, various departments of Federal government (too numerous to list,) and the (so-called) 'Corporate Elite.'
THIS is the reality. Sad as it is.