Posted on 03/11/2023 9:30:01 AM PST by PJ-Comix
It's like a South Park comedy bit. ROKU deposited 26% of its cash reserves, $487 million, into Silicon Valley Bank ...Annnnnd it's GONE!
PING!
You the taxpayer will bail them all out, just like you did in 2008.
2008 was one thing, this is another. I cannot imagine any systemic risk from this event.
Tech companies should hire competent CFO’s who are adept at more than just pitch decks for additional financing.
12631, signed on March 18, 1988.
I also read this company was super woke & funded bunch of climate, social justice tech company’s..which means they’re get a bailout from the regime.
BTTT!!!!
Yup. No FDIC for corporations.
Yeah now crybabies Harry and Meghan have something to cry about for real, waaaa their dinero is gone
What happened to the capitalist mantra of "allow mismanaged companies to fail?" The bank bailout of 2008 was unnecessary. Unlike 1929, we had FDIC in place and the federal government could have stepped in to take over any failing financial institution and not just write a blank check to prop up mismanaged banks and financial institutions. Fed Chairman Ben Bernanke scared Congress into it. “If we don’t do this today we won’t have an economy on Monday,” is the line famously attributed to Bernanke. Congresses $700 billion to bail out the banks was the banking industry bailed out by its allies in government, Bernanke & Geithner,
I call her MeAgain... but MEEEE-ghan works too.
Eggs...
Basket...
“I cannot imagine any systemic risk from this event.”
I sure can. Massive layoffs and lots of companies not paying THEIR creditors now. This can ripple out of control quickly. Plus investors are spooked and now hammering all banks. Plus the unrealized losses at the largest banks have soared due to rising interest rates that probably won’t come down for a long while.
Biden will be saying that the govt will cover the losses, but in it’s new digital dollar.
At least the depositors can feel better the SVB risk manager was queer. So progressive!
“Yup. No FDIC for corporations.”
That’s incorrect. The FDIC covers business accounts up to $250K per account.
https://www.investopedia.com/ask/answers/110915/does-fdic-cover-business-accounts.asp
Is this to usher in the digital currency?
Me Gain works too.
Next episode
Prince Harry on a streetcorner panhandling with sign :
Bankrupt Royalty Please Give
Respect our Privacy
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.