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American Banks implode after making unwise investments based on woke scores


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6 minutes ago, West said:

They are leftist/woke because they invest with things that are woke in nature, ie skin color or woke programs, not because the companies themselves are a good investment

There was NOT a run on SVB because of their investments in start up companies.

They invested their depositors' money in Federal Reserve Notes. NOTHING "woke" about that.

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5 minutes ago, robosmith said:

There was NOT a run on SVB because of their investments in start up companies.

They invested their depositors' money in Federal Reserve Notes. NOTHING "woke" about that.

Nonsense.. you are taking your talking points from Liz Warren. The same Liz that faked being native to get into law school. Sad

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1 hour ago, West said:

No my cite is about how you LIED about Trump's "deregulation" being the cause

IF the Dodd-Frank bill was NOT weakened in 2018, the stress testing mandated by it would have applied to SVB.

Frank is confused and is just making EXCUSES for HIS ROLE in weakening the law, by trying to claim that no one could have anticipated the crypto crisis. Signature was the crypto bank, NOT SVB.

Frank's excuse is BULLSHIT.

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Just now, robosmith said:

IF the Dodd-Frank bill was NOT weakened in 2018, the stress testing mandated by it would have applied to SVB.

Frank is confused and is just making EXCUSES for HIS ROLE in weakening the law, by trying to claim that no one could have anticipated the crypto crisis. Signature was the crypto bank, NOT SVB.

Frank's excuse is BULLSHIT.

Nah you are just buying into Warren's woke politics

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2 minutes ago, West said:

Nah you are just buying into Warren's woke politics

You don't even know what "woke politics" applies here.

That's why you FAIL to answer repeated questions about that.

YOU HAVE NO EVIDENCE that any "woke" investments were made by SVB let alone that they were bad.

Edited by robosmith
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20 minutes ago, West said:

They are leftist/woke because they invest with things that are woke in nature, ie skin color or woke programs, not because the companies themselves are a good investment

Do you just make up this stupid nonsense or do you visit stupid nonsense websites? 
 

Ok, which skin color woke business did they invest in? 

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6 minutes ago, robosmith said:

Nope, I am basing my POINTS on the article I POSTED from CNBC.com

And you have POSTED NOTHING which disproves their FACTS.

Yes I have.. I have posted the consultant's view that the regulation had absolutely NOTHING to do with it.. 

 

And all you are doing is posting the talking points of someone who LIED about their heritage for professional gain

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44 minutes ago, West said:

They are leftist/woke because they invest with things that are woke in nature, ie skin color or woke programs, not because the companies themselves are a good investment

“Invest in things with skin colour?”LMAO  Your gibberish still makes you sound like a toddler 

 

Got an example of any of these supposed “woke investments” that went bad?  No?  Shocker

Edited by BeaverFever
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On 3/12/2023 at 8:58 PM, 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 

if by "woke scores" you mean ESG

then I think an argument can be made that the ESG was the risky bets which brought the banks down

but the mechanism was not the short bets

the mechanism is that these banks thought they were safe to go short on ESG junk

because they were long on Treasuries & Mortgage backed securites

the bonds & mortgages were the backstop, the guaranteed returns to underpin shorting in other markets

but because Biden overstimulated the economy by dumping ten trillion dollars unto the street

this caused an inflation crisis which forced the central bank to raise interest rates 500 basis points in one year

then that wrecked the returns on the long Treasuries & Mortgage backed securities

and when the banks lost that flow of income, suddenly they were in trouble

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8 hours ago, Nationalist said:

Job Biden is a failure.

this is everywhere tho, this is global

governments, central banks, investment banks, and commercial banks

are doing the same things all over the world

so when the contagion really breaks out, this is going to be a worldwide banking crisis

can't time the market tho, can't say exactly when the contagion will break containment

but we are definitely seeing the tip of the iceberg right now

every bank is under increasing pressure from the inflation crisis at the same time

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34 minutes ago, Dougie93 said:

if by "woke scores" you mean ESG

then I think an argument can be made that the ESG was the risky bets which brought the banks down

but the mechanism was not the short bets

the mechanism is that these banks thought they were safe to go short on ESG junk

because they were long on Treasuries & Mortgage backed securites

the bonds & mortgages were the backstop, the guaranteed returns to underpin shorting in other markets

but because Biden overstimulated the economy by dumping ten trillion dollars unto the street

this caused an inflation crisis which forced the central bank to raise interest rates 500 basis points in one year

then that wrecked the returns on the long Treasuries & Mortgage backed securities

and when the banks lost that flow of income, suddenly they were in trouble

Thank you

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37 minutes ago, Dougie93 said:

this is everywhere tho, this is global

governments, central banks, investment banks, and commercial banks

are doing the same things all over the world

so when the contagion really breaks out, this is going to be a worldwide banking crisis

can't time the market tho, can't say exactly when the contagion will break containment

but we are definitely seeing the tip of the iceberg right now

every bank is under increasing pressure from the inflation crisis at the same time

True. I have to wonder how history will report on this time? Nothing happening today produces good results. Not a darn thing.

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8 hours ago, Rebound said:

Can you explain to us why the SVB bank failed? 

SVB hired woke board obsessed with diversity, invested $5BN for 'healthier planet' | Daily Mail Online

Silicon Valley Bank pushed 'woke' programs ahead of collapse (nypost.com)

A head of risk management at Silicon Valley Bank spent considerable time spearheading multiple “woke” LGBTQ+ programs, including a “safe space” for coming-out stories, as the firm raced toward collapse.

Jay Ersapah, the boss of financial risk management at SVB’s UK branch, launched initiatives such as the company’s first month-long Pride campaign and a new blog emphasizing mental health awareness for LGBTQ+ youth.

It seems like they were too busy concentrating on woke initiatives and remained oblivious to the financial part of running a bank.

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3 hours ago, robosmith said:

There was NOT a run on SVB because of their investments in start up companies.

They invested their depositors' money in Federal Reserve Notes. NOTHING "woke" about that.

The 'depositors' you speak of were predominantly start-ups and venture capital firms. It's ironic that the very clientele the bank has faithfully served for the past 40 years were the cause of its failure. SVB lent money to start-ups when the venture capitalists wouldn't.  When the venture capitalist funding began to dry up, the start-ups began using their deposits to keep their companies going. The belief that something was amiss with the bank (which there was) is what caused the run on deposits. When the bank was forced to sell its holdings of long term bonds at a loss to cover the withdrawals ... the game was over. Ordinarily a bank holding a ton of long term bonds with low interest rates in a time of rapidly rising interest rates isn't the end of the world. But it doesn't work if there's a run on deposits.  I agree it has nothing to do with wokeness.

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