• ComStar would like to thank everyone for their participation in this year's succcessful April Fools joke. Frankly speaking, given last year's digital COVID debacle, we were a little hesitant about running such an elaborate prank again this year, but everything really came together nicely and we all had fun. Madame la Comtesse de Comstar (Still Totally Neutral)

Silicon Valley Bank closes


behind a desk
Or maybe not?

What does "backstop" mean?
tl;dr: "backstop" in this instance basically means "if the steaming pile of hot shit no one really wants that you just bought at a discount is worth less than what you paid for it ... we'll make up the difference."


A total creep
Fucking financial jargon - so "backstop" does not mean "stop/deny" but is more like "underwrite/support"?


behind a desk
It's a different form of bailout basically.
Not really.

The FDIC is already on the hook for all the losses. This way they get close to what they think the garbage is actually worth instead of the pennies on the dollar they'd get from a fire sale.

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