News reports babbling on about some bank in kommiefornia closing and running off with the money. I wonder if this will be a one and only situation or more to come? Same 'news' people are saying market crash tomorrow.

Whatchoo think?

Apparently they spent their time promoting lesbian day or something!

I am not kidding!

Yes, this has been in the news a few days. SVB was closed by regulators, and the fdic has taken over. Unfortunately, some huge percentage of the banks deposits are not insured. Lotta startups will be fucked, but the bigger picture will unfold tomorrow. We are likely in for a long, hard road.

This bank failure hit the news well before the market closed on Friday. Very little to no reaction at that time….

quote:

Originally posted by wymple:
https://www.msn.com/en-us/mone...569235821361f7&ei=56

Gee, a left wing bullshit organization blames Trump. Shocker. Virtually EVERY post you make is deflection, regardless of the premise, or origin of the story. You live in an echo chamber, where everything in the right is bad, and everything left is good. Do you actually believe that a single contributor this forum, doesn’t see through your moronic posts? Obviously, there’s a few skb’s, kensco’s, and ME’s, but they are just as loony as you.

Anybody who doesn't agree with you is left wing radical, right? Don't lecture anybody about living in an echo chamber, moron.

https://fortune.com/2023/03/11...ally-important-fdic/

https://theintercept.com/2023/...ulations-lobby-fdic/

In your mind the whole world is left wing BS.

quote:

Originally posted by pointblank:

quote:

Originally posted by wymple:
https://www.msn.com/en-us/mone...569235821361f7&ei=56

Gee, a left wing bullshit organization blames Trump. Shocker. Virtually EVERY post you make is deflection, regardless of the premise, or origin of the story. You live in an echo chamber, where everything in the right is bad, and everything left is good. Do you actually believe that a single contributor this forum, doesn’t see through your moronic posts? Obviously, there’s a few skb’s, kensco’s, and ME’s, but they are just as loony as you.

You would call Newsweek a left leaning publication:

https://www.allsides.com/news-source/newsweek

https://mediabiasfactcheck.com/newsweek/


But then you most likely see Fox News as too moderate as well.

No surprises.

Interesting, why would anyone make bank going bankrupt political?
Some of you guys are unhinged?
This is a great forum, no pun intended…

A bit of a lag between paying more interest for deposits and getting more interest from loans. Oops...

Make it political? Deregulation pushed by Trump and McCarthy was a major factor.

We told over and over that Trump was an idiot.

"President Trump and congressional Republicans' decision to roll back Dodd-Frank's 'too big to fail' rules for banks like SVB—reducing both oversight and capital requirements—contributed to a costly collapse,"

Biden will save are banking system if he has too. So rest easy.

Probably too completed for you dummies, but

“In 2018, ignoring the vocal warnings of experts and advocacy groups, the then-Republican-controlled Congress passed legislation that weakened post-financial crisis regulations for banks with between $50 billion and $250 billion in assets, sparking fears of systemically risky failures and more taxpayer bailouts.

Silicon Valley Bank (SVB), the California-based firm that collapsed on Friday, controlled an estimated $212 billion, leading analysts and lawmakers to argue that the 2018 law made the institution's market-rattling failure and resulting federal takeover more likely.“

Thank you Joe. We have an adult in charge.

“U.S. government steps in and says people with funds deposited at SVB will be able to access their money“

LMAO.
they got 212 Billion and are broke.
must have invested in too many bit coin type transactions.

According to the latest news 90% of SVB deposits were in non FDIC insured accounts.

quote:

Originally posted by Kanec:
Interesting, why would anyone make bank going bankrupt political?
Some of you guys are unhinged?
This is a great forum, no pun intended…

Actually the bank made it political!

Their ME and Africa boss spent a whole month promoting lesbians!

Honestly !

In my wildest dreams I couldn’t have imagined this!

I see "may have" and "might have" thrown out there with regards to deregulating. I have yet to see "directly caused".

quote:

Originally posted by theback40:
I see "may have" and "might have" thrown out there with regards to deregulating. I have yet to see "directly caused".

OK, here you go - "directly caused":

Bernie Sanders says Silicon Valley Bank's failure is the 'direct result' of a Trump-era bank regulation policy
Story by insider@insider.com (Cheryl Teh) • 8h ago

https://www.msn.com/en-us/mone...b39e4869d429fb&ei=12

"Let's be clear. The failure of Silicon Valley Bank is a direct result of an absurd 2018 bank deregulation bill signed by Donald Trump that I strongly opposed," Sanders wrote in a statement on Sunday.

Sanders wrote in his Sunday statement that the Trump administration had disregarded all the lessons it should have learned from the 2008 Wall Street crash and the Enron scandal.

Sanders added that the US "cannot continue down the road of more socialism for the rich and rugged individualism for everyone else."

"Let us have the courage to stand up to Wall Street, repeal the disastrous 2018 bank deregulation law, break up too big to fail banks, and address the needs of working families, not the risky bets of vulture capitalists," Sanders wrote.

From the self-described opposition of the Constitution (a socialist) himself — Bernie Sanders!

Even you know BS, Bernie is not proof of anything Kabob.
Many people "May" be guilty of things. I will wait until the experts sort it out, and blame with actual deeds, not maybe. If what Trump did caused it, I will piss on his move too.

I simply can’t believe ME is quoting Sanders as an authority on anything other than Socialism….

So its trumps fault that the bank directors ran their bank into the ground?????

Should there be laws to keep all business from faulty directors????

0biden says his bank bailouts will not be from taxpayer's money. Where is the 'money' coming from?

. . . from premiums paid by FDIC-insured banks.

quote:

Originally posted by jdollar:
I simply can’t believe ME is quoting Sanders as an authority on anything other than Socialism….

COMMUNISM!

A bank with substantial investment in crypto/FTX after most major banks said it was not an acceptable investment.

Sounds like poor management.

If FDIC was involved in ok’ing that, then yes the taxpayer should get involved.

If not, and it was SVB’s folks trying to make more $, then they are responsible, and no bank should be considered to big to fail when it’s management makes really dumb decisions.

. A climate change for banks: Feds explain rescue plan for woke Silicon Valley Bank, Signature of New York

quote:

Originally posted by Aspen Hill Adventures:
0biden says his bank bailouts will not be from taxpayer's money. Where is the 'money' coming from?

Specifically;

Where are the monies being used to backstop deposits exceeding the FDIC's $250,000 limit going to come from, exactly?

As I understand things right now, that is a substantial sum, "the lion's share" I've read quoted.


.

He's probably as busy as a one legged man in an ass kicking contest today, but

I sure would like to hear Beretta682E's overall thoughts on this story.

Mike? You out there?


.

quote:

to come from, exactly?

that would be: Us
the Tax Payer

you realize tha some of the major players at this bank
were at the top structure of Lehman in 2008

Well...

Since this thread at some point is bound to be inundated with copious minutiae I might as well say it.

It turns my stomach when I think about Gavin Newsom and all of his California regulators probably flying over Palestine Ohio at this very moment on their way into Washington DC with their hands, out,
while the people of Palestine Ohio get one finger on each hand, up.


.

quote:

Originally posted by Thomas "Ty" Beaham:
Well...

Since this thread at some point is bound to be inundated with copious minutiae I might as well say it.

It turns my stomach when I think about Gavin Newsom and all of his California regulators probably flying over Palestine Ohio at this very moment on their way into Washington DC with their hands, out,
while the people of Palestine Ohio get one finger on each hand, up.


.

Pretty clear our government prioritizes those who they feel will vote for them and not what is good for the country or citizens. They also don't like it when the truth comes out.

I suspect many banks are in trouble and there will be more to come like this situation. The 'woke' ones will get saved.

Ann, you must be some kind of special stupid. If the government didn’t shore up investors with this failed bank, what the fuck do you think people are going to be doing across the US? come on, stretch those 47 neurons and give an answer a shot.

quote:

Originally posted by Schrodinger:
Ann, you must be some kind of special stupid. If the government didn’t shore up investors with this failed bank, what the fuck do you think people are going to be doing across the US? come on, stretch those 47 neurons and give an answer a shot.

So, Doug, do you think a bank failure run won't impact the economy? I do.

quote:

Originally posted by Aspen Hill Adventures:
0biden says his bank bailouts will not be from taxpayer's money. Where is the 'money' coming from?

Maybe a shotgun marriage, like Bank of America buying Merrill Lynch last time things went sideways...

For our special little pinheads:

Check out the Dodd-Frank Act and who repealed it.

The percentage of Americans with accounts exceeding the FDIC insured limit is very small. Normal people need to know those insured amounts are not going anywhere, so they can relax. Those with larger amounts knew they were not insured by FDIC above the limit, and took that risk. Bad decisions should hurt so we learn from them.

quote:

Originally posted by Schrodinger:
For our special little pinheads:

Check out the Dodd-Frank Act and who repealed it.

So .....its Trumps fault? Not the shysters that ran the bank....and I don't think Dodd-Frank was repealed, I believe it was modified....I'm also pretty sure it was a bipartisan modification...


.