Let's see if the Biden administration has the nerve to continue to claim that the bailout won't cost the taxpayer a cent, when the union of taxpayers and bank customers is 1.
It is an insurance fund; for every $100 in deposits, banks pay a few cents in insurance premiums.
notch898a is referring to how, when the full backstop of deposits regardless of size at SVB and Signature bank was announced, the government said that a) it wasn't a bailout because taxpayers wouldn't pay anything, and b) there would if necessary be a "special assessment" (i.e., mandatory additional premiums) from all banks. Our point is that a) is nonsensical given b), because of the total overlap between US taxpayers and US bank customers.
