You can believe the Government's claim that FDIC's rescue of SVB depositors "costs you nothing."
Or you can believe your lying eyes.
...The regulator added that the estimated cost of SVB’s failure to its Deposit Insurance Fund will be around $20 billion, with the exact cost determined once the receivership is terminated....
Do you honestly think that "the bankers" are going to pay that $20Bn out of their pockets?
Then there's a "loss-share" thing:
...First Citizens Bank and the FDIC also entered into a “loss-share transaction” — in which the FDIC absorbs part of the loss on a particular pool of assets — on the commercial loans purchased from the SVB bridge bank....
The only thing missing from the early reports on SVB was whether or not its loan portfolio was solid; that is, whether it was worth 100 cents on the dollar.
It isn't.
... The deal includes the purchase of approximately $72 billion of SVB assets at a discount of $16.5 billion...
That's 23% off. Compare to "net charge-offs" of all banks (2022) of 0.36%. That's a giant bowl of Not Good which was not well-reported (if at all) by the "business press." Counter to that? FDIC got stock-appreciation-equity rights to as much as $500 million, if First Citizens pulls a lot of chestnuts out of the fire.
So ........$500 million in "possible" gains vs. $20 billion in FDIC payments. See? That costs you nothing according to the Government. Now sit down and shut up.
Oh, well. First Citizens Bank retains its title as Primo Dumpster Diver Bank. The Deplorables retain their title as suckers. And the Government keeps grinding out lie after lie after lie.
Pray for the country.
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