With Treasury/FDIC not just dealing with SVB, but anticipating one more failure with Signature, all it takes is a 3rd, and a 4th... and perhaps one of the BIG 4, and all bets are off...
Posted on 03/12/2023 4:17:39 PM PDT by ConservativeMind
Bookmarking this post. I hope I’m wrong.
With Treasury/FDIC not just dealing with SVB, but anticipating one more failure with Signature, all it takes is a 3rd, and a 4th... and perhaps one of the BIG 4, and all bets are off...
In other words, we suckers are covering all the Valley Progressive Billionaires and their Chinese buddies for their fiscal carelessness and risk. They won't feel any pain but WE will!
Consider it similar to a "fuel surcharge" when the price of diesel gas goes out of sight. It will be for all our bank accounts except they will call it an "FDIC surcharge" for everybody with an account.
We are all simply chumps to be milked by the Big Guys when they screw up.
Seemingly neither. The owners are screwed, as are the bondholders, unless monies are left over.
Charles V Payne @cvpayne
Equity futures erupt higher as rules changed to “rescue” Silicon Valley.
8:23 PM · Mar 12, 2023
1776 was a waste of time. We just made sure Prince Harry of Canada was bailed out. Oprah too. The rich never have risk… in a sane world, this would be the last straw.. It is not. Life goes on and we are screwed by our own design. They are too big to fail. You are not.
Since the bank is illiquid but probably not insolvent, there won’t be many losses to cover, maybe not any losses. It would be nice if there were better ways to allow a bank that is illiquid but not insolvent to stay in business.
Well, the owners and bondholders are screwed.
“The following statement was released by Secretary of the Treasury Janet L. Yellen, Federal Reserve Board Chair Jerome H. Powell, and FDIC Chairman Martin J. Gruenberg:”
“We don’t care. We don’t have to. You’re on your own!”
What a great time to be alive! Such LEADERSHIP. Such GREAT thinkers. Always, but ALWAYS putting The American Taxpayer FIRST!
*SPIT*
Charles V Payne @cvpayne
Regular folks are covered to 250;000. This was never about them. Wake up the most arrogant folks on the planet keep a corrupt & irresponsible system moving along without penalty. Venture capitalists and their greed machine was bailed out.
8:32 PM · Mar 12, 2023
You and me, FRiend. God be with us.
“Vanguard Group Inc with 6,078,924 shares (10.35% ownership)”
Thank you SO MUCH! I have dollars looking for a home and was thinking of using Vanguard.
I’ll wait. Thanks, again! :)
“We are all simply chumps to be milked by the Big Guys when they screw up.”
^THIS!^
“Today we are taking decisive actions to protect the U.S. economy by strengthening public confidence in our banking system.”
A more accurate statement would be:
“Today we are taking decisive actions to save Oprah by bailing out our banking system.
Ain't THAT the truth...!
Seems crazy
Seemingly neither. The owners are screwed, as are the bondholders, unless monies are left over
The deposit insurance fund only several million of the 3$T possible for all banks. If several banks go down then the insurance is gone. Tax payers on he hook.
“Explain that to me.”
The treasury gives the banks the money, and they pay the special assessment to the FDIC.
See? Taxpayers dont have to pay. They just print it.
The FDIC insurance fund had at least $121 Billion dollars in it, as of last year:
https://www.aba.com/news-research/analysis-guides/fdic-capitalization
Actually, the owners are screwed, and the investments, loans, and owners’ equity, coupled with the screwed bondholders and also, what seems an FDIC that may have agreed to not get reimbursed are the ones losing money.
The loans and investments will be sold at a loss. In the last downturn, sometimes they sold the assets at 80% of the expected rate. That would suck owners and bondholders dry, and probably not allow the FDIC to get its money back, but all depositors would be made whole.
Normally, the FDIC gets some or all of the money back.
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