20 banks that are sitting on huge potential securities losses—as was SVB

https://www.marketwatch.com ^ | March 11, 2023 | y Philip van Doorn

[Lonesome in Massachussets]

I see a run on twenty more banks tomorrow.

[Lonesome in Massachussets]

Who in their right mind has any significant amount of their total net worth in a bank account. Even OPRAH or MEAGHAN?

[PIF]

that’s all that was on the only list I found.

[Texas resident]

Just because they are wealthy doesn’t mean that they are financially smart.

[politicket]

Bonds are ok if as an individual you have a long enough timeline to wait until maturity

All of my capital is in 4-week US Treasuries.

Performing quite nicely, thank you.

[joe fonebone]

As are my balanced funds...
Only lost money 1 month so far... compared to everyone else, not too shabby

[Night Hides Not]

Bad management has consequences.

[Lonesome in Massachussets]

Not just not financially smart, not even remotely sane.

[ConservativeInPA]

I see a run on twenty more banks tomorrow.

Yeah, the more I look at the fundamentals I think the problem is going to be much broader. It’s not rocket science to know that when interest rates increase asset prices decrease. The writing has been on the wall for two years that interest rates would increase from near zero. The executives at these banks had fiduciary responsibility to move investments to other asset classes.

[Lonesome in Massachussets]

Bad management has consequences. But they had top-notch people! Great ESG scores, they were leaders in DEI! (I'll go with the Sage of Omaha, or Peter Lynch any day.)

[Mariner]

$250k is safe and guaranteed.

In every bank you put that sum into.

[Night Hides Not]

Lol, they may be book smart, but they can’t manage a lemonade stand.

[bunkerhill7]

A gold nugget in the hand is worth two in the bank.

[Trumpisourlastchance]

Fake fiat money kills, every time. That is where the US is headed.

[Theoria]

[DAC21]

“$250k is safe and guaranteed.

In every bank you put that sum into”

That’s the theory, I’m just wondering if they s*** hits the fan so hard that can even FDIC fall apart?

[PAR35]

Get your money out of banks and at least maybe put your cash into a credit union.

There was a large credit union in Texas that was in conservatorship for four years because 1)there was no way to inject capital and 2) the Credit Union regulator didn't have sufficient funds to actually resolve it (pay off depositors). So they rocked along until they were able to squeeze enough out of the members to write off enough bad debt and return control to the members.

[SomeCallMeTim]

My financial advisor told me Charles Schwab bank is worse than SVB by a mile. They have my 401k… but supposedly, it’s separate and guaranteed to a much higher level than a bank.

[Georgia Girl 2]

Charles Schwab was down 25% yesterday. Monday should be interesting.

[ConservativeInPA]

The problem today is that we may get both a stock market and a bond market crash at the same time

Dow 26k. I’ve been waiting.