Maybe we need to do another Dan's bake sale. LOL
Posted on 03/16/2023 1:13:20 PM PDT by Red Badger
Charles Schwab’s fortune has gone down considerably after SVB’s collapse. No American billionaire lost more than he did in 2023. Ahh…Charles needs to become less WOKE.
“According to the Bloomberg Billionaires Index, which monitors the real-time wealth of the richest people on earth, Schwab has personally lost around $3 billion in the wake of SVB’s failure,” reports Yahoo.
Charles Schwab Corp.
Yahoo reports, Charles, “who founded discount brokerage Charles Schwab Corp. in 1971, now has a net worth of $9.99 billion, according to Bloomberg’s estimates, making him the 183rd wealthiest person in the world.
“The Bloomberg Billionaires Index shows that Charles’s fortune fell by 7.7% on Monday thanks to the brokerage’s tumbling share price—a personal loss of $828 million.”
He had a big stake in SVB, the Silicon Valley Bank for billionaires. Don’t worry; Biden will bail him out through the FDIC and the Treasury, which somehow won’t be US taxpayer money. Although, the government has no money, just taxpayer money.
THE WOKE STOCK NOSEDIVED
Charles’s stock nosedived with the bank’s failure. Schwab is still confident in their approach, and you should still trust them.
“Schwab’s long-standing reputation as a safe port in a storm remains intact, driven by record-setting business performance, a conservative balance sheet, a strong liquidity position, and a diversified base of 34 million+ accountholders who invest with Schwab every day,” Schwab and Bettinger said. “As such, we remain confident in our approach and in our ability to help clients through all kinds of economic environments,” Yahoo reports.
Ah yeah, huge difference. I think people are missing that.
Schwab, Inc. has something like $750 billion under asset management. They really are too big to fail.
An investment in stocks and bonds issued by a company that has gone belly up is a lot more than a “paper loss.” Your gazillions are just a heap of scrap paper. There might be some liquidation value after the assets are sold, the lawyers are paid, and then the senior creditors paid off. But it’s unlikely.
Schwab is a great service and I’ll do business with them over Chase any day. Even if he’s woke so long as he’s only giving personally to leftist causes that’s his concern and fine - his business (insofar as I’ve seen) is not.
Dumb article. Since Monday Schwab has recovered most of its losses.
Mine too.
Don’t worry, Schwab has recovered pretty much all its losses since Monday.
Maybe we need to do another Dan's bake sale. LOL
I’ve had accounts with them for 30 years, and also own a dab of SCHW stock.
Nothing but good service from day one, and usually get a phone call about once a quarter asking how everything is going.
I noticed the CEO bought a bunch of shares earlier in the week, as did some other moneybags fund manager.
The Daily Mail.CO.UK has a good run down on how some banks came out smelling like a rose.
CEO of AVB transferred a few million before it failed and has a 3.1 million home in Hawaii ...............................
Go fund me will probably take our money. He isn’t a dirty stinking trucker or average person.
It’s OK. Biden promised.
Every.
Single.
No wait, I’m serious
No joke
Penny.
Paid to depositors.
no stockholder losses are being bailed out by anybody ... stockholder’s equity in the three failed banks went to zero and all their execs fired ... period ...
Sometimes bad luck is better than no luck.
article is clickbait and has nothing to do with the Schwab Brokerage company ... oh, and no one is bailing out any stockholder losses as a result of the three banks failing, including stockholders of the stocks of those banks ...
i’ve had nothing but great experiences with Schwab .... excellent website functionality, low fees, annual digital tax reports that feed into H&R Block and TurboTax software ... and the very few times i ever needed to call someone at Schwab, the phone was answered promptly (by a U.S. citizen without accent) who was cordial, helpful, patient, and knowledgeable ... it really doesn’t get any better than Schwab ... (and no, neither i nor anyone i know works for Schwab)
“I’ve had accounts with them for 30 years, and also own a dab of SCHW stock.
Nothing but good service from day one, and usually get a phone call about once a quarter asking how everything is going.”
Yep, I’ve been with them about as long and have no complaints.
The Execs were fired so the gummit could take ownership. Can you say Nationalized banking?
Correct +1👍
The writer apparently doesn’t know that there is a basic difference between investors, who will lose what they put into SVB, and depositors who get FDIC protection and possibly more.
About par for the state of journalism.
First post to get it right.
Wow blast from past...!
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