I thought this below article no Zerohedge gives an excellent explanation, in layman’s terms, about this problem.
Its also worrying, because many banks will be sitting on huge, unrealized bond losses due to interest rates rising so quickly
There is never only one cockroach.
Wow, this is pretty big. I am curious if other banks will follow.
https://en.wikipedia.org/wiki/Silicon_Valley_Bank
“On 9 March 2023, shares of SVB Financial plunged more than 62% after the company proposed a share sale to shore up its balance sheet which had suffered a $1.8 billion loss on Treasuries due to rising inflation.[26][27] Trading of SVB shares was halted before market open on 10 March.[28]”
2008 all over again..bet Biden will somehow blame Trump cause the POS can’t accept responsibility for ANYTHING he does
Lol
VIDEO FEB 2023, Jim Cramer urges investors to buy Silicon Valley Bank stock $SIVB, saying it was “still cheap” and has “room to run.”
https://rumble.com/v2ci6mo-feb-2023-jim-cramer-urges-investors-to-buy-silicon-valley-bank-stock-sivb.html
Not a good sign.
I heard most customers had over $250,000 in Deposits so many will lose money and yet still vote for Biden.
I hope all these woke rats 🐀 lose every penny.
Watch the private jet traffic this weekend. Weekends are when the deals are cut.
Monday morning could be “fun.”
SVB CFO dumped 2,000 shares SIVB stock @ $287.59/shr two week ago (2/27/2023)
https://d18rn0p25nwr6d.cloudfront.net/CIK-0000719739/bc554c92-a43b-4390-a350-b32043ca9ba8.pdf
Some people have ejection seats before the plane crashes.
5 minutes ago
remove
CEO too https://d18rn0p25nwr6d.cloudfront.net/CIK-0000719739/6d205721-9446-42f9-9e45-7797ebe9a84f.pdf
Cannot let those executive pay 12,452 shrs from stock options expire worthless, exercise and dump em.
Both of the above are according to poster NELBEV at ZeroHedge.com
Oh damn. Here we go.
When is enough enough?
This puppet of Obama needs to be dragged off to Happydale. The rest of the family belongs in Leavenworth.
But more money needs to go to Ukraine!(/S)
Uh oh....Lots of wealthy leftist snobs around that area.
As for Cramer, i bet dollars to donuts that Comcast/NBCUniversal were heavily invested in SVB. Probably was told to shill SVB.
ROKU just disclosed they had their money at Silicon Valley Bank, business accounts are NOT FDIC insured?
Over 90% of the money in that bank was NOT insured.
From yahoo:
“At the end of 2022, SVB had uninsured deposits in its US offices of $151.5 billion, versus total deposits of $173 billion. That’s 88% of all SVB deposits that didn’t have FDIC insurance.”