Silicon Valley Bank

[GutterBoy 2,900]

6 minutes ago, Dizkneelande said:

Your geriatric president just blamed Trump 

And it was dumb to do so.

[Strike 6,034]

Nothing to see here.......

 

[Horseman 2,727]

 

 Nailed it. 

[GutterBoy 2,900]

3 minutes ago, Horseman said:

 

 Nailed it. 

Catturd knows what he's talking about.

[KSB2424 3,174]

Let’s just stop and marvel at the name. Silicon Valley Bank. 

[KSB2424 3,174]

10 hours ago, GutterBoy said:

https://www.svb.com/leadership

100% White

75% White Male

That one when way over your head. 

[Dizkneelande 1,136]

Money to Candidates BECKER, GREG
MENLO PARK, CA 94025 SVB CEO 08-26-2020 $2,800 Joe Biden (D)

[Dizkneelande 1,136]

Money to Candidates BECKER, GREG
MENLO PARK, CA 94025 SILICON VALLEY BANK CEO 08-13-2015 $1,500 Ro Khanna (D) Federal

[Dizkneelande 1,136]

Money to Candidates BECKER, GREG
MENLO PARK, CA 94025 SILICON VALLEY BANK 06-17-2021 $2,900 Charles E Schumer (D) Federal

[The Real timschochet 7,559]

It sure seems like Biden’s plan is working. Will conservatives give him credit for his actions since Friday? Doubtful, but he appears to deserve it. 

[Dizkneelande 1,136]

52 minutes ago, The Real timschochet said:

It sure seems like Biden’s plan is working. Will conservatives give him credit for his actions since Friday? Doubtful, but he appears to deserve it. 

Working for whom millionaires and billionaires? 

[Hardcore troubadour 16,058]

1 hour ago, The Real timschochet said:

It sure seems like Biden’s plan is working. Will conservatives give him credit for his actions since Friday? Doubtful, but he appears to deserve it. 

This is a bailout, we are paying for it. Great plan. 

[GutterBoy 2,900]

5 minutes ago, Hardcore troubadour said:

This is a bailout, we are paying for it. Great plan. 

HT's playbook.  Repeat the same lie over and over until people start believing it.

[Hardcore troubadour 16,058]

5 minutes ago, GutterBoy said:

HT's playbook.  Repeat the same lie over and over until people start believing it.

So this won’t be passed on to the customer? It’s accepted that it will be. You have a different take? Let’s hear it. 

[TimHauck 3,438]

40 minutes ago, Dizkneelande said:

Working for whom millionaires and billionaires? 

Working for the American people by not causing panic and a run on many more banks

[jerryskids 7,199]

2 minutes ago, TimHauck said:

Working for the American people by not causing panic and a run on many more banks

Are other banks as illiquid (unliquid?) as SVB such that they couldn't handle some withdrawals?  Or was this a one-off thing by dummies at SVB? 

[GutterBoy 2,900]

2 minutes ago, Hardcore troubadour said:

So this won’t be passed on to the customer? It’s accepted that it will be. You have a different take? Let’s hear it. 

passed on to the customer != Bailout.  (FYI, the != means is not equal to)

A bailout is when you take taxpayer money and use to save corporations, or banks, like what happened in 2008.  This is different.  SVB is not being saved, it gone.  What's happening is the govt has guaranteed the depositor assets, and they have said they are not using taxpayer money for it.  Facts.

Now you can spin it however you like so it fits your agenda, but I like to deal in facts and truth, and you're not BS'ing me, or anyone else that is smart.

[Dizkneelande 1,136]

3 minutes ago, TimHauck said:

Working for the American people by not causing panic and a run on many more banks

How many banks are over leveraged and making risky investments? 

 

8 minutes ago, Hardcore troubadour said:

So this won’t be passed on to the customer? It’s accepted that it will be. You have a different take? Let’s hear it. 

Yeah this guy is a dolt. The Fed just created money to absorb value losing assets. Print more money yay. 

[Hardcore troubadour 16,058]

1 minute ago, GutterBoy said:

passed on to the customer != Bailout.  (FYI, the != means is not equal to)

A bailout is when you take taxpayer money and use to save corporations, or banks, like what happened in 2008.  This is different.  SVB is not being saved, it gone.  What's happening is the govt has guaranteed the depositor assets, and they have said they are not using taxpayer money for it.  Facts.

Now you can spin it however you like so it fits your agenda, but I like to deal in facts and truth, and you're not BS'ing me, or anyone else that is smart.

The spin is on you. Don’t call it a bailout! Ok.  But it is. Playing your little “tax payer” game. Ok. I guess if you pay taxes but don’t use a bank then it’s not from the tax payer. You idiot. 

[Dizkneelande 1,136]

2 minutes ago, GutterBoy said:

passed on to the customer != Bailout.  (FYI, the != means is not equal to)

A bailout is when you take taxpayer money and use to save corporations, or banks, like what happened in 2008.  This is different.  SVB is not being saved, it gone.  What's happening is the govt has guaranteed the depositor assets, and they have said they are not using taxpayer money for it.  Facts.

Now you can spin it however you like so it fits your agenda, but I like to deal in facts and truth, and you're not BS'ing me, or anyone else that is smart.

Where did the money come from dipsh!t?

[Baker Boy 1,711]

13 minutes ago, Dizkneelande said:

Where did the money come from dipsh!t?

From the consumers.  They changed the rules to accommodate to wealthy at the expense of everyone else.

[GutterBoy 2,900]

4 minutes ago, Dizkneelande said:

Where did the money come from dipsh!t?

The FDIC Deposit insurance fund, dipsh!t.

[Baker Boy 1,711]

8 minutes ago, GutterBoy said:

The FDIC Deposit insurance fund, dipsh!t.

Where did that money come from?

[GutterBoy 2,900]

1 minute ago, Baker Boy said:

Where did that money come from?

All the banks pay into it.

And your next question is gonna be, "And where do the banks get their money from?"

And that answer will be "From customers"

And then your next question will be "Are customers taxpayers?"

And the answer will be "Probably most"

And then your conclusion will be "See I told you, it's being funded by taxpayers"

And then I will say "By your logic then everything is funded by taxpayers"

And we could probably agree on that and be done.

[jerryskids 7,199]

7 minutes ago, GutterBoy said:

All the banks pay into it.

And your next question is gonna be, "And where do the banks get their money from?"

And that answer will be "From customers"

And then your next question will be "Are customers taxpayers?"

And the answer will be "Probably most"

And then your conclusion will be "See I told you, it's being funded by taxpayers"

And then I will say "By your logic then everything is funded by taxpayers"

And we could probably agree on that and be done.

Thanks for saving us that time.   

My question then is:  if the FDIC is being asked to do something beyond the charter of the insurance fund, do we funders have any recourse?  I'm not saying Ima sue them or anything, more of an intellectual curiosity.  

[GutterBoy 2,900]

8 minutes ago, jerryskids said:

Thanks for saving us that time.   

My question then is:  if the FDIC is being asked to do something beyond the charter of the insurance fund, do we funders have any recourse?  I'm not saying Ima sue them or anything, more of an intellectual curiosity.  

funders?  What is it that you fund?  Paying taxes?  A general rule of thumb is that when you pay taxes, you have no say where your money goes, so no.  Avoiding another semantics argument, yes you can vote for people, whatever.

Again, the FDIC fund is funded by banks, not taxpayers, albeit in a complete round about way, everything the world is funded by taxpayers, I give you that.

[TimHauck 3,438]

48 minutes ago, jerryskids said:

Are other banks as illiquid (unliquid?) as SVB such that they couldn't handle some withdrawals?  Or was this a one-off thing by dummies at SVB? 

Yes seems they are dummies.  But I think “some” is an understatement.  I assume other banks would have an issue with that large a % of withdrawals right?

[Horseman 2,727]

7 minutes ago, GutterBoy said:

albeit in a complete round about way, everything the world is funded by taxpayers, I give you that.

Then why did you spend the better part of this morning arguing semantics?

[GutterBoy 2,900]

Just now, Horseman said:

Then why did you spend the better part of this morning arguing semantics?

I didn't.

[Baker Boy 1,711]

9 minutes ago, GutterBoy said:

funders?  What is it that you fund?  Paying taxes?  A general rule of thumb is that when you pay taxes, you have no say where your money goes, so no.  Avoiding another semantics argument, yes you can vote for people, whatever.

Again, the FDIC fund is funded by banks, not taxpayers, albeit in a complete round about way, everything the world is funded by taxpayers, I give you that.

and where do the banks get this money……..? I thought we went through this?

[Horseman 2,727]

50 minutes ago, jerryskids said:

Are other banks as illiquid (unliquid?) as SVB such that they couldn't handle some withdrawals?  Or was this a one-off thing by dummies at SVB? 

 

46 minutes ago, Dizkneelande said:

How many banks are over leveraged and making risky investments?

 

Because everyone is worried about it our financial advisors put out a report on Schwab this morning.  80% of their customers are under the FDIC threshold (not the other way around), have a much more diversified investment strategy and have other income revenue streams.  We aren't worried about it.  

[Hardcore troubadour 16,058]

This has all the earmarks of a classic government bailout operation. 

[jerryskids 7,199]

4 minutes ago, TimHauck said:

Yes seems they are dummies.  But I think “some” is an understatement.  I assume other banks would have an issue with that large a % of withdrawals right?

I specifically put "some" because, yes, all banks would struggle if everyone wanted to withdraw at once.  So it seems there is something of a "dummy scale."  

[The Real timschochet 7,559]

We can argue all day whether it’s actually a bailout. To me it’s irrelevant because bailouts are almost always a good thing. In fact I can’t think of a single bailout that didn’t both save regular people (not just so called “elites”)  and benefit our economy in the long run. I’ve always supported these kind of government intercessions and I always will. 

A New Deal Democrat, which is how I define myself in terms of economics, is someone who believes in free enterprise and capitalism but also believes that the government can and should be involved, for reasonable restrictions, to serve as a safety net, to try and advance equal opportunities for all to succeed, and to step in in times of emergency. So I view bailouts as fulfilling the last of these proper roles of government. 

[The Real timschochet 7,559]

53 minutes ago, jerryskids said:

I specifically put "some" because, yes, all banks would struggle if everyone wanted to withdraw at once.  So it seems there is something of a "dummy scale."  

For those who don’t know (I’m sure you do), the whole reason the FDIC exists is because in 1933 we had bank runs that spread like wildfire and paralyzed the economy. And yes people did panic- wirhout any specific information about their own bank they rushed to get their money out. FDR was forced to declare a bank holiday for a week. In this he was supported, at the time, by both liberals and conservatives, though the latter reversed themselves later once the emergency had passed. 

[Hardcore troubadour 16,058]

5 minutes ago, The Real timschochet said:

For those who don’t know (I’m sure you do), the whole reason the FDIC exists is because in 1933 we had bank runs that spread like wildfire and paralyzed the economy. And yes people did panic- wirhout any specific information about their own bank they rushed to get their money out. FDR was forced to declare a bank holiday for a week. In this he was supported, at the time, by both liberals and conservatives, though the latter reversed themselves later once the emergency had passed. 

Tell us how this bank run would work. People would line up to get their money? In cash? 

[The Real timschochet 7,559]

4 minutes ago, Hardcore troubadour said:

Tell us how this bank run would work. People would line up to get their money? In cash? 

Back then? Sure that’s exactly how it worked. As news of the lines would spread they’d get bigger, sometimes stretching for blocks, especially in the bigger cities. 
 

Are you referring to today? I’ve no idea how it would work today; why? 

[TimHauck 3,438]

 

 

 

[GutterBoy 2,900]

Tardcore might be the dumbest person here.  I told him to stay out of these threads early on.

[Cdub100 3,996]

10 minutes ago, TimHauck said:

 

 

 

Is this build back better?