Silicon Valley Bank

[Strike 3,974]

51 minutes ago, nobody said:

The only part that worries me is when he said, "No losses will be born by the tax payers.  Let me repeat that.  No losses will be born by the tax payers."

I didn't think losses would be born by the tax payers before listening to him, but now I have to assume we're going to be on the hook for some kind of bailout (called by some other name, of course).

Was he whispering the 2nd time he said it?

[posty 2,296]

16 minutes ago, RLLD said:

Right, I get you there.  That is one of his "tells".  I think we all know right now that is a bold-faced lie. 

Actually isn't one of Biden's "tells" that he is lying is that he opens his mouth?

[Hardcore troubadour 12,640]

I don’t know what they’re lying about or not telling us , I just know they are and aren’t. 

[GutterBoy 2,281]

1 hour ago, Hardcore troubadour said:

White males can be more concerned with nonsense too. Mirror handy? 

My point, idiot, is that they are not good at diversity.  Ridiculous I had to point that out to you.

[BLS 313]

So now it's 20 banks.

Nothing to see here.

[GutterBoy 2,281]

Just now, BLS said:

So now it's 20 banks.

Nothing to see here.

link?

[GutterBoy 2,281]

1 hour ago, jerryskids said:

I'm not sure what you are saying; they did lose money, although it may technically have been unrealized losses (which would be consistent with my statement about not getting out before it got too bad.  I'm presuming here that one could sell such long-term bonds on the open market, albeit at a loss).  Also, as you said, they had too much of their money in such investments which made them less liquid, but also to my point of trying to provide higher-than-market return to investors.

https://www.fidelity.com/learning-center/personal-finance/silicon-valley-bank-collapse

You only lose value in a bond if you sell before maturity, which they were forced to do, because of the excess withdrawals.

[Hardcore troubadour 12,640]

7 minutes ago, GutterBoy said:

My point, idiot, is that they are not good at diversity.  Ridiculous I had to point that out to you.

That’s true. They should have found a diverse hire that knows what they are doing when it comes to managing risk.  But that wasn’t their priority, or hers.  And here we are. 

[BLS 313]

19 minutes ago, GutterBoy said:

link?

Do your own homework, slick.

[Bert 1,091]

1 hour ago, TimHauck said:

I thought the reports were that many startups/small businesses used this bank.  So the founders/owners might have “large wealth” but are using a significant portion of it to pay their employees which they wouldn’t have been able to do if their money was not available.

The start ups have huge loans not huge deposits.  These are the kinds of people with large deposit balances we shouldn't be bailing out.

https://oilprice.com/Latest-Energy-News/World-News/Norways-Oil-Fund-Held-Over-260M-In-Failed-SVB-Banking-Group.html

 

[GutterBoy 2,281]

22 minutes ago, BLS said:

Do your own homework, slick.

That's not 20, thanks.

[TimHauck 1,799]

54 minutes ago, GutterBoy said:

You only lose value in a bond if you sell before maturity, which they were forced to do, because of the excess withdrawals.

But the excess withdrawals happened because people found out about their treasury strategy, right?

[nobody 2,038]

4 minutes ago, TimHauck said:

But the excess withdrawals happened because people found out about their treasury strategy, right?

What probably happened was...

1. VC money started getting withdrawn since the environment right now isn't conducive for speculation.
2. SVB needed to sell the bonds at a loss to cover those withdrawals.
3. Word got out they needed to raise money.
4. As soon as a rumor exists there is a liquidity problem at a bank, the bank then immediately has a liquidity problem because the rumor triggers a bank run.

 

[GutterBoy 2,281]

4 minutes ago, TimHauck said:

But the excess withdrawals happened because people found out about their treasury strategy, right?

No.  The VC money dried up with the looming recession and the lack of free money, that led startups to draw down their balances because they needed cash.  To get the cash SVB had to sell assets, and they mostly had treasuries, which they had to sell for a loss because interest rates went up.  Then panic spread that they lacked liquidity so the bank run ensued.

Or what nobody said...

[TimHauck 1,799]

5 minutes ago, nobody said:

What probably happened was...

1. VC money started getting withdrawn since the environment right now isn't conducive for speculation.
2. SVB needed to sell the bonds at a loss to cover those withdrawals.
3. Word got out they needed to raise money.
4. As soon as a rumor exists there is a liquidity problem at a bank, the bank then immediately has a liquidity problem because the rumor triggers a bank run.

 

 

1 minute ago, GutterBoy said:

No.  The VC money dried up with the looming recession and the lack of free money, that led startups to draw down their balances because they needed cash.  To get the cash SVB had to sell assets, and they mostly had treasuries, which they had to sell for a loss because interest rates went up.  Then panic spread that they lacked liquidity so the bank run ensued.

Or what nobody said...

Gotcha, thanks.

[Cdub100 3,380]

I bought a bunch of $FRC FIRST REPUBLIC BANK SAN FRANCISCO at $21.57 today. The government isn't going to let the banks fail. 

[Hardcore troubadour 12,640]

22 hours ago, GutterBoy said:

This is a crypto bank.  It can suck a d1ck for all I care

So was SVB.  Doh! 

[posty 2,296]

On 3/12/2023 at 3:44 PM, posty said:

If the economy crashes now, I am 100% positive that Biden and the WH will blame Trump for it...

Well, the blame has started towards Trump, so obviously now if the economy tanks, Biden won't take any responsibility as expected...

And once again, lies from a promise...

 

[Dizkneelande 839]

4 minutes ago, posty said:

Well, the blame has started towards Trump, so obviously now if the economy tanks, Biden won't take any responsibility as expected...

And once again, lies from a promise...

 

Total piece of crap 

[GutterBoy 2,281]

9 minutes ago, Hardcore troubadour said:

So was SVB.  Doh! 

Are you trying to set the record for number of stupid comments in a thread?  You can beat your old record if you keep it up.

[RLLD 3,455]

Biden has to blame Trump, his handlers told him so....

Of course he wants to use this instance in this way. He is a politician, this is how they roll. 

[Hardcore troubadour 12,640]

Just now, GutterBoy said:

Are you trying to set the record for number of stupid comments in a thread?  You can beat your old record if you keep it up.

Oh, so SVB didn’t have crypto customers? 5 billion worth. At least. 

[seafoam1 1,879]

1 minute ago, GutterBoy said:

Are you trying to set the record for number of stupid comments in a thread?  You can beat your old record if you keep it up.

He would have to beat 8,092 it looks like if you total all of them up. 

[Dizkneelande 839]

 

[Dizkneelande 839]

Government is useless prove me wrong.

[GutterBoy 2,281]

15 minutes ago, Hardcore troubadour said:

Oh, so SVB didn’t have crypto customers? 5 billion worth. At least. 

Jp Morgan has crypto customers.  That doesn't make them a crypto bank.

Stay in your lane gramps, you can chime in when he talk about best way to break up a fight at the orange Julius 

[seafoam1 1,879]

Now you have to have over 8,094 dumb comments to break the record. 

[Hardcore troubadour 12,640]

8 minutes ago, GutterBoy said:

Jp Morgan has crypto customers.  That doesn't make them a crypto bank.

Stay in your lane gramps, you can chime in when he talk about best way to break up a fight at the orange Julius 

Oh, so Signature  bank, the one you called a “crypto “ bank, only had crypto customers? You idiot. Lol. 

[easilyscan 558]

1 hour ago, Cdub100 said:

I bought a bunch of $FRC FIRST REPUBLIC BANK SAN FRANCISCO at $21.57 today. The government isn't going to let the banks fail. 

36.81 +5.60 (+17.94%)
After hours: 06:36PM EDT 

I hope you're celebrating.

[Cdub100 3,380]

11 minutes ago, easilyscan said:

36.81 +5.60 (+17.94%)
After hours: 06:36PM EDT 

I hope you're celebrating.

It's nice to win one.

[easilyscan 558]

26 minutes ago, Dizkneelande said:

 

He was pulling down 345K a year as a board member. He was a POS long before this. 

In 1989 it was discovered that Barney Frank's boyfriend, Stephen Gobie, whom Frank had once hired as a male prostitute, was running a male-brothel out of the Congressman's home. Frank claimed he didn't know about the prostitution ring, but he did use the power of his office to "fix" 33 tickets for Gobie. And he knowingly wrote a misleading letter to Gobie's probation officer in Virginia. Frank received a "reprimand" for fixing the tickets. Gobie maintained that Frank knew about the prostitution ring operation in his home. 

Here he's downplaying the concerns of the Bush administration concerning the housing market back in the early 2000s

 

 

[Cloaca du jour 2,064]

Get woke and go broke.

How much is going to ukraine?  How much to SVB??  Who invested in green stocks? 

How much for train derailment?  0

[GutterBoy 2,281]

1 hour ago, Hardcore troubadour said:

Oh, so Signature  bank, the one you called a “crypto “ bank, only had crypto customers? You idiot. Lol. 

Orange Julius 

[Hardcore troubadour 12,640]

2 minutes ago, GutterBoy said:

Orange Julius 

Wrong again. Suck it. 

[JustinCharge 2,397]

i cant wait for all the liberals on various forums to suddenly turn into experts on global banking when they never discussed it until a few days ago.

[GutterBoy 2,281]

4 minutes ago, JustinCharge said:

i cant wait for all the liberals on various forums to suddenly turn into experts on global banking when they never discussed it until a few days ago.

Like all the magatards in this thread blaming woke?

[JustinCharge 2,397]

if some of you truly were knowledgable enough on banking to start attacking other posters, youd have a load of cash investing with that knowledge beforehand.  i think im the only one who shorted the market a couple weeks ago and posted it here.

 

[GutterBoy 2,281]

2 minutes ago, JustinCharge said:

if some of you truly were knowledgable enough on banking to start attacking other posters, youd have a load of cash investing with that knowledge beforehand.  i think im the only one who shorted the market a couple weeks ago and posted it here.

 

Why even invest when nuclear wars starts tomorrow?

[easilyscan 558]

29 minutes ago, JustinCharge said:

if some of you truly were knowledgable enough on banking to start attacking other posters, youd have a load of cash investing with that knowledge beforehand.  i think im the only one who shorted the market a couple weeks ago and posted it here.

 

You did very well. I've never shorted stocks (no margin account) but I was lucky enough to (on nothing more than a gut feeling) buy 400 shares of the CBOE Volatility Index (^VIX) @ $12 & change sometime in November 2019. Sold at $36 sometime in January. Do you think Powell will raise interest rates next week, or bow down to those telling him to ease up?

[Dizkneelande 839]

29 minutes ago, GutterBoy said:

Like all the magatards in this thread blaming woke?

Your geriatric president just blamed Trump