Destroy the banks and that’s is what you have.................]
WHAT could possibly go wrong???
Posted on 03/13/2023 7:11:22 AM PDT by Red Badger
Biden spoke shortly before the market opened at 9.30am in attempt to shore up trust in the banking sector amid amid fears of a rout after the collapse of SVB
'Our actions should give Americans confidence that the US banking system is safe,' the president told the press conference
But investors are smelling blood in the water. First Republic Bank saw its shares crash 74 percent to $21.50 from a high of $81.76 in premarket trading
*********************************************************************************
Trading has been halted in First Republic Bank this morning after shares by a record 67 percent before the market opened after Joe Biden claimed 'US banking safe'.
The San-Francisco based bank, whose clientele include Mark Zuckerberg saw its share price plunge to $27.08 from $81.76 as fears of a contagion in the sector spooked traders after the collapse of Silicon Valley Bank.
Western Alliance Bancorp dropped nearly 75 percent as the opening bell sounded while shares in PacWest Bancorp dropped more than 35 percent.
Biden moved to shore up trust before Wall Street opened after the White House yesterday promised SVB customers would be 'made whole' and that 'no losses will be borne by the taxpayer.'
'Americans can have confidence that the banking system is safe,' the president told a press conference. But he warned that those who backed the failed bank 'knowingly took a risk and when the risk didn't pay off, investors lose their money. That's how capitalism works.'
(Excerpt) Read more at dailymail.co.uk ...
2008 maybe. 1987, remember the DOW ended up higher over the whole year. The issue there was liquidity in the financial markets. This one they will shovel out as much fiat as they need to do to paper over the disaster. 1929 I was not around for so have no comment.
Yes, the perfect meme.
Very few people are left that were and they were babies................
Biden = kiss of death.
Biden is protecting the deposits of his Silicon Valley donors. This usually goes unnoticed and unpunished by the type of voters who elected Senator Fetterman. Yet the economic rot and misery caused by the Biden Administration policies is becoming apparent even to the most dense of voters.
This bank collapsing nonsense is a direct result of government attempting to control “information”. People don’t trust what they are allowed to see on social and legacy media. You get your facts where you can and act on them. Most real information is not spread by media but by word of mouth.
It’s time for all of us to Embrace the Suck.
I’m waiting to see Bank of the West on the list. They have “a checking account that gives back to the planet”. I am sure that they are not good investors if they are trying to lure people with carbon offsets.
......BIDEN..................
Good grief what a bunch of chicken littles.
You invest with a level of risk in mind.
You always prepare for hard times.
“If you like your doctor, you can keep your doctor.”
THEY WANT DIGITAL MONEY-—
NOT A GOOD THING.
BITCOIN IS A SEPARATE ISSUE
When I want financial and health advice I turn to the dementia wing of the local nursing home.
These guys never get it wrong!
;-)
What’s the breakthrough number here? Revisit 30,000 from last October and maybe punch down?
I saw that bank on one list of many others.
1979?
Banks that focus on VENTURE CAPITAL are gambling with YOUR money
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