$150 BILLION NOT INSURED
Roku huh? Guess I’ll be watching TV off my antenna in the near future đ
Wow! I bet the rest of the story is on BreitbartâŚSOMEWHEREâŚ
This is where The Swamp will cave. FedGov has to borrow money so the banks can lend the money back to FedGov. Itâs a never-ending cycle and becomes the principal driver of inflation.
Itâs time to let the bank fail, and let the stupid depositors lose everything over the FDIC threshold.
Even if the feds don’t bail them out directly the tax write offs will accomplish a percentage of the same.
Hoping someone with better understanding of tax law will correct me.
That is very odd. I ran much smaller operations in the late 80âs and early 90âs.
Overnight repoâs were how we invested cash.
Pretty simple and it really makes me wonder what has changed with the treasury function (as it is called).
First FTC then SVB.
Both woke idiot companies. Pattern here ?
Makes one wonder which is the 3rd most Woke bank ?
Probably a good bank stock to short. It would be interesting to know if informed investors shorted these stocks and cleaned up.
Bermuda flue hits SVB whos next?.
They should send investors that are upset to go talk to the equity and diversity officer.
"Green", "woke", geez look at the squirrel.
SVB is entangled with the CCP and the many tech companies that are tied to the CCP.
SVB is too CCP to fail.
And the same people that propped up this bank and did the run on all their cash, causing the collapse, are still WOKE and always will be.
That is, as long as the WOKE policies donât effect their bank accounts, homes, cars, and lifestyles.
Why did they not freeze The bank when the run first started?
They couldâve done that they waited until it was almost depleted
The solicitation the bank made for I think $2 billion was not indicative that they were fixing to collapse yet people panicked and removed 90+ percent of all deposits and destroyed the bank
Bank still has loan portfolios etc
Somebody here explain to me why they let the run on the bank for 48 hours
Ice simply do not have all cash deposit because They make Loans and other investments with your money
And charge fees
Itâs how they profit
They are only required to have a certain percentage of cash deposits on hand and when they need to bolster that they also go to bankers banks or in some cases the federal reserve
I wish bbluflag was still with us
He was a Texas bank president and could explain this better
In the last few decades so many political and business fads have occurred that Charles Mackay’s famous book “Extraordinary Popular Delusions and the Madness of Crowds” needs new volumes adde to it.
-PJ
Simply put it's because they have other concerns. Which adds an unquantified amount to risk. That "unquantified" part is fine for horse races but not for bankers. Here we are reminded of the fate of Eugene Lawson, Ayn Rand's "Banker with a heart". It wasn't pretty for his depositors either.
I note that Yellen has announced the Feds aren't bailing the bank out. It means that they are, they're just going to call it something else.
“Federal Deposit Insurance Corporation (FDIC), which only covers accounts up to $250,000” . . . is too general a statement.
That statement in the article, gives people the wrong impression that each bank account is covered up to $250,000.
Reference, see:
https://www.fdic.gov/resources/deposit-insurance/financial-products-insured/
Scroll down to âSingle Accountâ at the FDIC website link and click on the right arrow. In the resulting info, scroll down to where you will see a notation:
“Coverage Limit: All single accounts owned by the same person at the same bank are added together and insured up to $250,000.”
As much as I would like to blame the SVB failure on a bunch of queers, trannies, and Greta Thunberg clones, the truth is, that stuff probably played a minor role in this - and probably not the way suggested by Breitbart.
Let me speculate. The lesbian chick who was the head of Risk, was (link below) “While Silicon Valley Bank careened toward its spectacular collapse, the bank’s head of risk management for Europe, Africa and the Middle East (Jay, the lesbian chick) devoted a chunk of her time to various LGBTQ+ programs. “
Sooo, Lesbian Jay, wasn’t even the head of risk for AMERICA. I GUESS that the root problem is that the Board and the Officers are hiring from a pool of conformist followers, like Lesbian Jay, not hiring people who can think for themselves.
Following that, from https://www.zerohedge.com/markets/fatal-distraction-senior-svb-risk-manager-oversaw-woke-lgbt-programs :
Meanwhile, SVB went without a chief risk officer (CRO) from April 2022 to January 2023, the Daily Mail reports, as the bank apparently had little urgency to replace Laura Izurieta before finally tapping Kim Olson earlier this year.
On the other hand, a few months before that long CRO vacancy began, SVB boasted, “We have a Chief Diversity, Equity and Inclusion Officer, an executive-led DEI Steering Committee and Employee Resource Groups with executive sponsors focused on these objectives.”
Another thing is, Treasury Bonds are not necessarily Green investments.
I would also guess that Senior Management knew long ago that their low interest bonds should have been dumped, and maybe other low interest stuff. But who knows what role that possible officer’s bonus programs would have been affected.
I think maybe these Banks, and much of white elitist management, are subject to the same factors as the British once were, when various Lords were automatically presumed to be intellectually fit to lead troops into battle. It was a class thing, and I think our management in this country is doing the same thing and hiring from the same pool of silly tw@ts who have the college creds, and very little common sense, or ability to think outside the box.
Look at Lesbian Jay’s pic on the zerohedge link, and tell me if you think she has the same intellectual capacity or common sense of say, Cowboy Bob, who got his degree from the University of Oklahoma, and worked on a ranch to pay his way thru college?
1500 “green” startups. Gone. They were scamming people.
