Silicon Valley Bank collapses [and First Republic Bank]

[Catcherinthetoast]

@coolguy40

As they get bigger, I trust them less and less. That’s why I use a local credit union.

In a previous thread you began titled “Do you trust banks” you wrote…

@coolguy40

It’s the “too big to fail” corporate finance behemoths that scare me. Those are the organizations closest to a corrupt government that have literally EVERY piece of private information about me. I’ve just moved my money to a local credit union. Even then, my transactions are done on a credit card I pay off every month. I’m even financing my next car through the car company directly. Perhaps I’m paranoid. But, I just want to make it just a little more difficult to be spied on.

I understand a prudent consideration for who you use for financial services and being cautious with the institutions where you deposit hard earned money.

With that said you seem to be attributing some sort of nefarious or conspiratorial intent. What exactly do you think the banks are doing with your data?

On the other thread you erroneously suggested the First Republic sale was a taxpayer funded bailout so I am trying to understand if there is any real basis for your concerns or if as you suggest you are just paranoid.

In uncertain and tumulus times it is normal to be confused and feel vulnerable it is not however appropriate to make unfounded accusations based on demonstrably inaccurate facts of illegality against an entire profession.