Posted on 03/11/2023 6:29:57 PM PST by TigerClaws
Dozens of customers lined up outside of a First Republic Bank in northern California on Saturday eager to withdraw their funds in the wake of the collapse of Silicon Valley Bank.
There had been fears following SVB's demise for First Republic's future when analysts pointed out the similarities between the estimated value of their assets versus the actual value.
Brentwood is located in the Golden State's winemaking community, just south of Napa Valley, with the area's vineyards, notably Bloomfield, Tamayo and Hannah Nicole, having gained international attention in recent years.
The news of Silicon Valley Bank's collapse sent shockwaves through the wine industry. It had been the main financial institution for wineries in California for almost three decades.
The California Department of Financial Protection and Innovation closed the bank on Friday after depositors, concerned about the lender's financial health rushed to withdraw their deposits. The frenetic two-day run on the bank blindsided observers and stunned markets, wiping out more than $100 billion in market value for U.S. banks.
(Excerpt) Read more at dailymail.co.uk ...
If this had happened under PDJT, the MSM would be completely hysterical.
First Republic Bank (FRC) is one of the top 5 banks that are being shorted by hedge funds, according to Steven Van Metre youtube video.
SBNY, FRC, ZION, KEY, TFC
My grandfather lost $3400 in 1932 when the banks failed. He made a point of warning me about banks till the time he died.
If this happened under Trump the Democrats, led by the J6 committee creeps, would have taken to the streets,
As the news of SVB’s failure trickles down over the weekend and reaches those who very seldom pay attention to the news, I suspect come Monday we are going to see a lot of people at their bank taking out cash. Some in small amounts (just in case) and some taking out most if not all of their cash available.
wonder how many criminals will be waiting outside
without any fear of being prosecuted ...
Yup. And the bubble-heads would instantly have Nancy and Chuck on all of their shows, frantically asking them, "Does this mean impeachment? Do you think it's time? Or does this cross the line to criminal prosecution?"
nearly everything that has happened under Biden the MSM would be hysterical if Trump was in office.
They were hysterical over good news that they tried to spin as bad when trump was in office.
Yep, and there’s so much.
Biden/Harris still claim things are so much better than they
were under Trump.
The Democrat Party must have a death wish, but then they keep
the stolen election as an option.
Flashbaack
The below is an extract from a research report (authored by Congressman Jim Saxton) to the Joint Economic Committee of Congress:
Irrational runs on money market mutual funds began. For the week ending on Wednesday September 17, 2008, investors redeemed $145 billion from their money market mutual funds. On Thursday September 18, 2008, institutional money managers sought to redeem another $500 billion, but Secretary Paulson intervened directly with these managers to dissuade them from demanding redemptions. Nevertheless, investors still redeemed another $105 billion. If the federal government were not to act decisively to check this incipient panic, the results for the entire U.S. economy would be disastrous.
That $3400 loss your gramps had in ‘32 is the equivalent of losing about $75 ,000 of today’s monopoly money.
and Dodd and Frank fixed it .... LOLOLOLOL!!!!
My dad did the same.
Also warned me about SWAT teams being formed as well.
He graduated in the 50’s with a degree in banking and finance.
WOW! Guess it’s time to get your money out. Especially folks who have thousands in their savings. Monday is going to be wild.
Singing: ‘It’s beginning to look a lot like ... 1929’
This is beyond tragic. Stupid people ruining the lives of others. Biden has always been a feckless narcissist. This is truly tragic.
Hard working people who dragged themselves out of bed even when sick, for their whole adult lives (some even in childhood) to go to work and make their way in the world. Their pay was taxed. The interest on their savings was taxed. Any investment income they made was taxed. But they persisted, and scratched and clawed their way over and through adversity so that they could build a better life for their families and themselves.
And now, their President is an unethical man who is devaluing everything they ever worked for while he makes money selling influence. All while his son is selling his father's influence to foreign governments and corporations and using the money for crack and hookers - while trying to wiggle out of supporting his out of wedlock daughter.
I can't really worry too much about my own life at this point, but there are many innocent children who are going to inherit a world tarnished and diminished.
Such a pathetic joke.
We went from too big to fail, to bigger than ever to fail,
deregulation! WAMU was in business since the 1800’s before regulators even largely existed-now we have fewer consequential banks being regulated by endless federal and state regulators-
and yet we have bank collapse (with exactly one analyst at sell despite all the tech layoffs and stock meltdowns) and the fear of bank runs.
It’s beyond clown world-and this is in light of the fact that they stole interest from savers for 12yrs for the sake of these imbeciles.
Worth $72,705 today.
https://smartasset.com/investing/inflation-calculator#2e4DfWaqFq
Fair chunk of change!
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