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!
I also read this company was super woke“
If you want to enjoy this kind of tech there is no escape. The alternatives: Apple TV, Amazon fire. It is just lousy fact of life technology is dominated by woke a-holes who maintain a death grip. There is a sliver of hope with Elon. He has moved from center left to center right.
Inflation is out of control. So things like this needs to happen then we may be able to get inflation under control again. That will bring relief to middle class.
That’s lunch money for Ops.
I suspect that in the coming days, we are going to find the fall-out from SVB’s failure is going to cascade throughout almost every major business sector.
“On the PLUS side, I just HEARD that Prince Harry and MEEE-ghan deposited most of their money in SVB ...Annnnnnd it’s GONE! “
Of course they did , they are smarter than everyone else .
No plain old banks for them.
This will give the biden admin another reason to raise taxes.
Bailing out the likes of Harry, Meghan, and Oprah should go over well...
As if that bastard and his cronies in Congress need a reason.
Yeah I hear Oprah lost a ton of money..could not have happened to a nicer prick..no wonder the commie left wants to bail these people out so badly, because they all donate to Dems if they donated to the GOP the left would have issue having them rot
Ping
The banks sold bad mortgages to European banks and much of the money was to bail them out. It was also an opportunity for the banks and mortgage companies to destroy their rivals.
Maybe those hags on The View took a hit. We can wish.
Gives a whole ‘nother meaning to “Taking it up the shorts”!🤣
Poof...
😆
The bank was closed because it had insufficient reserves. It may even be bankrupt, hard to tell. But creditors will take a haircut. This isn’t FTX. There assets are not worthless, just worth less. I doubt that anyone will get less than 90-cents on the dollar.
They got into trouble when they invested heavily in very low yield treasury bonds. Investors were willing to accept low yields in return for guaranteed returns. The bank pays correspondingly low interest to depositors. The depositors’ accounts are demand accounts, they can take their money out. Treasury bills pay when due. There is no market for Treasury bills paying 1% when inflation is running at 8%, such bills sell at steep discount. They got caught holding Janet Yellen’s bag.
or that’s aren’t solely focused on being HOMOS. You should see the ‘bio’ of the risk manager from SVB. The entire description is about being gay
Or Sparkles.
WOW - dream come true for these two - an honest to God Big Pity Party... (one that's real)
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