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  1. #51
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    [SVB had an investment grade rating, had been operating for 40 years

    https://wolfstreet.com/2023/03/11/sv...op-to-default/

  2. #52
    dangerous floater Winehole23's Avatar
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    we need to keep the rate hikes going. Can't have stagflation. Take the hit one way or the other but not both, preferably more unemployment and less government spending. Quan ative easing is inflationary and expansionary economic policy is the last thing we need.

    Biden is Jimmy Carter 2.0

    crush the plebs, even though there's no detectable wage/price spiral.

  3. #53
    dangerous floater Winehole23's Avatar
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    [SVB had an investment grade rating, had been operating for 40 years

    https://wolfstreet.com/2023/03/11/sv...op-to-default/
    SVB fell apart in 3-4 days. Let's not reward the VCs who already got rich on both sides of the failure.

  4. #54
    dangerous floater Winehole23's Avatar
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    Tech founders and banks get to sit like dragons on huge piles of money because "they take all the risk", but when they crap out, they whine for protection.

  5. #55
    dangerous floater Winehole23's Avatar
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    They got the regulators out of the way, enjoy the risk, dudes.

  6. #56
    dangerous floater Winehole23's Avatar
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    lol


  7. #57
    Believe. Hank Scorpio's Avatar
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  8. #58
    dangerous floater Winehole23's Avatar
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    Reportedly, 70% of VCs and 50% of UK tech startups bank with SVB

    The pink paper reports that BOE wants Barclay's to take over SVB UK.


  9. #59
    Alleged Michigander ChumpDumper's Avatar
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    As sure as the sun rises....


  10. #60
    Savvy Veteran spurraider21's Avatar
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    Just lol
    Last edited by spurraider21; 03-12-2023 at 04:40 PM.

  11. #61
    Alleged Michigander ChumpDumper's Avatar
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    Expect possible blue check chaos bro bull this week.




  12. #62
    Against Home Schooling Ef-man's Avatar
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    Ain't that a .

    The Biden administration announced Sunday night that all depositors at the failed Silicon Valley Bank would have access to all their money on Monday morning, approving an extraordinary intervention aimed at averting a crisis in the financial markets.

    Authorities said they were also extending protection to depositors of a second bank, Signature Bank of New York, which state regulators closed on Sunday as unease in the financial sector appeared to spread. Separately, the Federal Reserve announced that it was creating a new lending facility for the nation’s banks, designed to buttress them against financial risks caused by Friday’s collapse of SVB.

    https://www.washingtonpost.com/silic...-bank-deposits

  13. #63
    Alleged Michigander ChumpDumper's Avatar
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    too terrified to fail

  14. #64
    Against Home Schooling Ef-man's Avatar
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    too terrified to fail
    Worse, no one arrested for the ery.

  15. #65
    Veteran InRareForm's Avatar
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  16. #66
    Damns (Given): 0 Blake's Avatar
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    Worse, no one arrested for the ery.
    And further they're all protected from civil suits I'm sure

  17. #67
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    Signature Bank closed for systemic risk

  18. #68
    Veteran GAustex's Avatar
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    Money printer goes brrrrr

  19. #69
    Spur-taaaa TDMVPDPOY's Avatar
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    better not bail out the share holders

  20. #70
    Alleged Michigander ChumpDumper's Avatar
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    Worse, no one arrested for the ery.
    I don't know if any actual laws were violated. This bank and many of it's depositors were pretty stupid and it looks like they're being rewarded.

  21. #71
    Against Home Schooling Ef-man's Avatar
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    I don't know if any actual laws were violated. This bank and many of it's depositors were pretty stupid and it looks like they're being rewarded.
    They announced Wed. that they sold a bunch of securities at a loss (risky bet that is not chump change ~$2B) and it was not like they did not see it coming.

    My personal opinion is that someone is to blame civilly/criminally for that big ass, bad management decision which triggered Joe to intervene.

  22. #72
    🏆🏆🏆🏆🏆 ElNono's Avatar
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    I don't know if any actual laws were violated. This bank and many of it's depositors were pretty stupid and it looks like they're being rewarded.
    Maybe that's the problem right there... but Congress is sleep at the wheel per par...

  23. #73
    dangerous floater Winehole23's Avatar
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    too terrified to fail
    same jokers who imposed the risk (and possibly shorted it after the big mass VC chat, then started the bank run) are spreading the fear of contagion, and the USG is gratifying it.
    Last edited by Winehole23; 03-13-2023 at 12:04 AM.

  24. #74
    dangerous floater Winehole23's Avatar
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    I guess they had to try at least as hard as the failing UK.

  25. #75
    dangerous floater Winehole23's Avatar
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    Implication here seems to be that banks will have funded the rescue of uninsured deposits and will again.


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