They tried to sell Lehmann to BoA, then UK's Barclays. But UK gov refused to waive Barclay's shareholder vote on the purchase. So they couldn't finish purchase during that weekend.
Same as SVB here, usually FDIC will find a healthy bank to purchase the failed bank, so depositors are made whole and FDIC has no need to step in. This time nobody want to buy SVB, so as before 2008 practice, SVB would have to file bankcryptcy like Lehmann. Big depositors will lose money.
But we learnt our lesson, Feds has to create a new corp to take over SVB. This is beyond FDIC. This is US treasury.
