West Posted March 13 Report Share Posted March 13 First it was the Silicon Bank now there are concerns with some of the others as the US races to legislate the banks. My guess is next round of bank implosion is the digital ID. You know they have to have full control because it's your fault 2 2 Quote Link to comment Share on other sites More sharing options...
Americana Antifa Posted March 13 Report Share Posted March 13 You unironically said "woke" so you're automatically wrong. Quote Link to comment Share on other sites More sharing options...
WestCanMan Posted March 13 Report Share Posted March 13 33 minutes ago, West said: First it was the Silicon Bank now there are concerns with some of the others as the US races to legislate the banks. My guess is next round of bank implosion is the digital ID. You know they have to have full control because it's your fault I recall reading a thing on the internet that pretended to have correctly predicted coronavirus plandemic in 2020, the next big thing was supposed to be some sort of cyber-failure that made covid look like a warm-up. It's scary if it does happen, because it will mean that the Dems and Libs still feel like they can hold onto power if the world takes an enormous dump while it's firmly in their control. Quote Link to comment Share on other sites More sharing options...
sharkman Posted March 13 Report Share Posted March 13 This has been a long time coming. Michael Burry has been warning about another major crash, like the one he saw coming in 2004 or so. When it happened in 2008, he was ready for it and made something like 500% for his investment firm. It could be a bloody Monday. Quote Link to comment Share on other sites More sharing options...
sharkman Posted March 13 Report Share Posted March 13 And here’s more wreckage from the crisis: https://finance.yahoo.com/news/us-regional-banks-remain-under-092829687.html “Most banks are solvent under normal circumstances. The problem is, pretty much no bank can withstand a full bank run,” said Steve Sosnick, chief strategist at Interactive Brokers LLC. “The FDIC action removes the idea of a deposit bank run, but what we’re seeing is an investor bank run,” he added. First Republic Bank sank 79% for a record drop, sparking multiple halts for volatility Western Alliance Bancorp lost 85%, its biggest drop ever PacWest Bancorp was down 60%, hitting a record low Among other regional banks sinking more than 20% on Monday and triggering halts: Customers Bancorp Inc., Comerica Inc., Zions Bancorporation, East West Bancorp and Bank of Hawaii Quote Link to comment Share on other sites More sharing options...
robosmith Posted March 13 Report Share Posted March 13 11 minutes ago, sharkman said: And here’s more wreckage from the crisis: https://finance.yahoo.com/news/us-regional-banks-remain-under-092829687.html “Most banks are solvent under normal circumstances. The problem is, pretty much no bank can withstand a full bank run,” said Steve Sosnick, chief strategist at Interactive Brokers LLC. “The FDIC action removes the idea of a deposit bank run, but what we’re seeing is an investor bank run,” he added. First Republic Bank sank 79% for a record drop, sparking multiple halts for volatility Western Alliance Bancorp lost 85%, its biggest drop ever PacWest Bancorp was down 60%, hitting a record low Among other regional banks sinking more than 20% on Monday and triggering halts: Customers Bancorp Inc., Comerica Inc., Zions Bancorporation, East West Bancorp and Bank of Hawaii So how do low stock prices affect the OPERATION of banks? The problem at SVB was too many accounts with deposits unprotected by FDIC which caused the depositor run. Quote Link to comment Share on other sites More sharing options...
sharkman Posted March 13 Report Share Posted March 13 1 hour ago, robosmith said: So how do low stock prices affect the OPERATION of banks? The problem at SVB was too many accounts with deposits unprotected by FDIC which caused the depositor run. To be honest with you, I’ve never working in the banking industry in any capacity. I do, however, have the ability to say that when 3 banks collapse in 4 days, that dropping stock prices, as well as investors heading for the exits, seem to be detrimental to a bank’s health. 1 Quote Link to comment Share on other sites More sharing options...
robosmith Posted March 13 Report Share Posted March 13 28 minutes ago, sharkman said: To be honest with you, I’ve never working in the banking industry in any capacity. I do, however, have the ability to say that when 3 banks collapse in 4 days, that dropping stock prices, as well as investors heading for the exits, seem to be detrimental to a bank’s health. I'm only seeing 2 failed banks. SVB and Signature. Silicon Valley Bank, Signature Bank failures explained, live updates on new developments Quote Why did Signature Bank fail? Signature Bank, a New York-based financial institution that became a big lender in the crypto industry, was ordered to close over the weekend. The bank was part of only a handful of financial institutions allowing customers to deposit crypto assets. That didn't bode well for the bank when crypto plunged as a result of FTX's collapse last year. We all knew crypto was very risky. Quote Link to comment Share on other sites More sharing options...
sharkman Posted March 13 Report Share Posted March 13 34 minutes ago, robosmith said: I'm only seeing 2 failed banks. SVB and Signature. Silicon Valley Bank, Signature Bank failures explained, live updates on new developments We all knew crypto was very risky. Perhaps your sources aren’t that reliable. Look up Silvergate Bank. 1 Quote Link to comment Share on other sites More sharing options...
robosmith Posted March 13 Report Share Posted March 13 (edited) 12 minutes ago, sharkman said: Perhaps your sources aren’t that reliable. Look up Silvergate Bank. My source is FDIC website. Siivergate liquidation is voluntary. Quote “In light of recent industry and regulatory developments, Silvergate believes that an orderly wind down of Bank operations and a voluntary liquidation of the Bank is the best path forward,” the company said in a statement. Edited March 13 by robosmith Quote Link to comment Share on other sites More sharing options...
Contrarian Posted March 13 Report Share Posted March 13 (edited) Trending on The Wall Street Journal ⬆️ Regulators plan another try at auctioning Silicon Valley Bank after they were unable to find a buyer over the weekend. Edited March 13 by Contrarian Quote Link to comment Share on other sites More sharing options...
Aristides Posted March 13 Report Share Posted March 13 Niche banks are risky, no different from putting all your investments in a single sector. Quote Link to comment Share on other sites More sharing options...
sharkman Posted March 13 Report Share Posted March 13 5 minutes ago, robosmith said: My source is FDIC website. Siivergate liquidation is voluntary. Either way, it was caused by the same economic conditions and market. You want to believe their press release while they no doubt line their own pockets? Knock yourself out. Quote Link to comment Share on other sites More sharing options...
robosmith Posted March 13 Report Share Posted March 13 3 minutes ago, sharkman said: Either way, it was caused by the same economic conditions and market. You want to believe their press release while they no doubt line their own pockets? Knock yourself out. Signature and Silvergate were the RESULT of risky crypto investments, not "the market." Quote Link to comment Share on other sites More sharing options...
robosmith Posted March 14 Report Share Posted March 14 Trump signs the biggest rollback of bank rules since the financial crisis Quote President Donald Trump signed the biggest rollback of bank regulations since the global financial crisis into law Thursday. The measure designed to ease rules on all but the largest banks passed both chambers of Congress with bipartisan support. Backers say the legislation will lift burdens unnecessarily put on small and medium-sized lenders by the Dodd-Frank financial reform act and boost economic growth. Opponents, however, have argued the changes could open taxpayers to more liability if the financial system collapses or increase the chances of discrimination in mortgage lending. “Dodd-Frank was something they said could not be touched. And honestly, a lot of great Democrats knew that it had to be done and they joined us in the effort,” Trump said before he signed the bill, surrounded by lawmakers from both major parties. “And there is something so nice about bipartisan, and we’re going to have to try more of it. Let’s do more of it.” The measure eases restrictions on all but the largest banks. It raises the threshold to $250 billion from $50 billion under which banks are deemed too important to the financial system to fail. Those institutions also would not have to undergo stress tests or submit so-called living wills, both safety valves designed to plan for financial disaster. So loosening regulations in response to bank lobbyists is WHY SVB imploded. 4 Quote Link to comment Share on other sites More sharing options...
robosmith Posted March 14 Report Share Posted March 14 Experts rebut notion that "woke" policies prompted collapse Quote What about the role of "woke" policies? Several high-profile Republicans and a presidential hopeful argued that Silicon Valley Bank's promotion of diversity equity and inclusion, or DEI, initiatives and environmental, social and governance, or ESG, investments led to its downfall. DeSantis, U.S. Rep. James Comer of Texas and Republican presidential candidate Vivek Ramaswamy echoed that sentiment in comments to Fox News. "Now we see coming out that they were one of the most 'woke' banks in their quest for the ESG-type policy," Comer said March 12. "This could be a trend, and there are consequences for bad Democrat policy." Silicon Valley Bank's 2022 Environmental, Social and Governance report detailed more than $17 billion in planned investments. They included: • An $11.2 billion community benefits plan to support small businesses, finance affordable housing, reinvest in low- and moderate-income communities in Massachusetts and California by 2026, and support charitable causes through philanthropy and volunteering. • $1.3 billion in residential mortgages to low- and moderate-income communities and borrowers and in low- and moderate-income communities census tracts by 2026. • $5 billion in sustainable finance commitment; the company would invest this money by 2027 into helping clients build sustainable businesses. The bank also aimed to have its operations carbon-neutral by 2025. But experts told PolitiFact that none of the policies or investments conservatives highlighted would have created the key conditions that prompted the sudden nosedive. "No, I don't see this playing any role," Allen said. "For this critique to have any plausibility, Silicon Valley Bank would have to have made 'woke' investments that failed and caused it to implode." Also, many financial institutions have made similar investments without prompting a bank run. The accounting and consulting firm PricewaterhouseCoopers projected in October that U.S. investments in environmental, social and governance-related assets would increase to $33.9 trillion in 2026. Robert Lawless, a University of Illinois at Urbana-Champaign law professor, an expert in consumer finance and business law, agreed that "wokeness" didn't cause the bank’s collapse. "It had nothing to do with it," Lawless said. "It's like saying, 'Why isn't 'blue' the answer to 1 plus 1?’' It's Banking 101. That's what was going on." 1 Quote Link to comment Share on other sites More sharing options...
West Posted March 14 Author Report Share Posted March 14 51 minutes ago, robosmith said: Experts rebut notion that "woke" policies prompted collapse We all knew it was only a matter of time before the far left looney bins blamed Truuuuuump for their failures. Just like they blamed Bush for Clinton policy which gave out risky sub prime mortgages based on skin color. Go woke and this is the result 1 1 1 Quote Link to comment Share on other sites More sharing options...
robosmith Posted March 14 Report Share Posted March 14 2 hours ago, West said: We all knew it was only a matter of time before the far left looney bins blamed Truuuuuump for their failures. Sad that ^this deflection is all you have to defend Trump's deregulation of the banks which enabled SVB to evade stress tests. 2 hours ago, West said: Just like they blamed Bush for Clinton policy which gave out risky sub prime mortgages based on skin color. Go woke and this is the result I never blamed Bush for Clinton repealing Glass-Steagall and signing the Commodity Futures Modernization Act of 2000 deregulation of wall street. But Bush was responsible for keeping interest rates artificially low and creating the the subsequent housing bubble as part of Rove's plan for a "permanent Republican majority." Of course that didn't work. Quote Link to comment Share on other sites More sharing options...
Nationalist Posted March 14 Report Share Posted March 14 Way t' go Joe! Ya fckin' brainless woke twit. From the open border, Fentinyl and millions of illegal aliens...to the cowardly surrender of Afghanistan...the threat of nuclear war over a nothing state...and the trashing of energy independence...and now the collapse of banks... Job Biden is a failure. 1 1 Quote Link to comment Share on other sites More sharing options...
Rebound Posted March 14 Report Share Posted March 14 9 hours ago, West said: We all knew it was only a matter of time before the far left looney bins blamed Truuuuuump for their failures. Just like they blamed Bush for Clinton policy which gave out risky sub prime mortgages based on skin color. Go woke and this is the result So one side says the bank failed because of their “woke” policy, and the other says it failed because of deregulation. Can you explain to us why the SVB bank failed? Quote Link to comment Share on other sites More sharing options...
West Posted March 14 Author Report Share Posted March 14 40 minutes ago, Rebound said: So one side says the bank failed because of their “woke” policy, and the other says it failed because of deregulation. Can you explain to us why the SVB bank failed? They failed because they provided nonsensical investment based on wokeism Quote Link to comment Share on other sites More sharing options...
Aristides Posted March 14 Report Share Posted March 14 Just now, West said: They failed because they provided nonsensical investment based on wokeism So you have no clue. Quote Link to comment Share on other sites More sharing options...
West Posted March 14 Author Report Share Posted March 14 Just now, Aristides said: So you have no clue. Lol you are the one blaming Donnie for sdg investment Quote Link to comment Share on other sites More sharing options...
Deluge Posted March 14 Report Share Posted March 14 On 3/12/2023 at 7:28 PM, Americana Antifa said: You unironically said "woke" so you're automatically wrong. Actually he's right. SVB's Chief Invertebrate had been pushing woke bullshit for years. Bullshit like this: https://www.svb.com/news/company-news/svb-included-in-bloomberg-gender-equality-index-for-fifth-year Rest In Pieces, SVB. As the Great Donald Trump always sez - "Everything woke turns to shit". 1 Quote Link to comment Share on other sites More sharing options...
Aristides Posted March 14 Report Share Posted March 14 44 minutes ago, West said: Lol you are the one blaming Donnie for sdg investment When did I do that? You obviously have no clue about bond markets. Quote Link to comment Share on other sites More sharing options...
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