Over70irregs
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First Republic, other regional bank stocks sink after failure of Silicon Valley Bank
The declines on Friday were building on large sell-off from Thursday.
Nervous on banks?
- Thread starter Over70irregs
- Start date
Commercial Inside Release
Well-Known Member
Of course, the US executive branch is going into maximum damage control (aka: lying)
While the whole world holds it's breath, until Monday.
The US government is taking a chance, that there won't be a panick. Which shows how ignorant and out of touch they are...
While the whole world holds it's breath, until Monday.
The US government is taking a chance, that there won't be a panick. Which shows how ignorant and out of touch they are...
Don't forget about the debt ceiling crisis
Next Day Error
X - Other
Don’t forget who’s threatening to cause that crisis
They need a compromise.
0% interest on the national debt credit card has expired
oldngray
nowhere special
Everything is going to be fine.
This is just a market correction.
Give it a week and the investors will come roaring back.
I can't remember the exact number but I believe it was around 79% of the deposits in that bank was not FDIC insured because they was over the limitEverything is going to be fine.
This is just a market correction.
Give it a week and the investors will come roaring back.
Babagounj
Strength through joy
I don't care , because I'm not one of them.
Thebrownblob
Well-Known Member
newolddude
Well-Known Member
SVB CEO Greg Becker lobbied the government to relax some Dodd-Frank provisions on regional lenders in 2015. Trump did in 2018.
When Silicon Valley Bank busted, it had assets of $220 billion. Trump's rollback lifted the "systemically important" threshold from $50 billion to $250 billion.
newolddude
Well-Known Member
This last Monday the Federal Reserve chairman said there were a number of banks in highly questionable status because they bet wrong on crypto and interest rates.
Testimony by Chair Powell on the semiannual Monetary Policy Report to the Congress
Chairman Brown, Ranking Member Scott, and other members of the Committee, I appreciate the opportunity to present the Federal Reserve's semiannual Monetary P
www.federalreserve.gov
They are screwed
What a bad problem to have a bank account with over a quarter of a million in it...
bottomups
Bad Moon Risen'
My mother had that issue. Couldn't talk any sense into her.
Thebrownblob
Well-Known Member
If you think the FDIC is going to take care of you, I have some bad news. If the banks truly start to fail, the FDIC insures about $9 trillion worth of accounts about 150 billion on hand.
Thebrownblob
Well-Known Member
I'm cashing on my 401k and buying Bitcoin
Commercial Inside Release
Well-Known Member
It looks like the bank may have been intentionally crashed. The 90% that had millions (some had billions) in the bank as part of special deals that required they bank exclusively with SVB. The CEO cashed out just before this happened.
Yellen speaks tomorrow... Let the panick begin.
Yellen speaks tomorrow... Let the panick begin.
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