Posted on 03/10/2023 8:56:57 AM PST by PJ-Comix
Mortgage lending is one of the rare cases where the U.S. financial system is actually rigged AGAINST the banking industry. This is what is driving this turmoil that we see today.
Usually the FDIC will try to sell the assets to other banks. So, the money isn’t gone yet. But it’s at risk.
Watch the private jet traffic this weekend. Weekends are when the deals are cut.
Monday morning could be “fun.”
I don’t think this has much to do with mortgages. I think it was getting caught flat footed when they should have been adjusting it’s asset mix.
10 banks that may face trouble in the wake of the SVB Financial Group debacle
MarketWatch ^ | 3/10/23
Posted on 3/10/2023, 6:11:29 AM by EBH
Or traffic on customized encrypted chat programs.
SVB CFO dumped 2,000 shares SIVB stock @ $287.59/shr two week ago (2/27/2023)
https://d18rn0p25nwr6d.cloudfront.net/CIK-0000719739/bc554c92-a43b-4390-a350-b32043ca9ba8.pdf
Some people have ejection seats before the plane crashes.
5 minutes ago
remove
CEO too https://d18rn0p25nwr6d.cloudfront.net/CIK-0000719739/6d205721-9446-42f9-9e45-7797ebe9a84f.pdf
Cannot let those executive pay 12,452 shrs from stock options expire worthless, exercise and dump em.
Both of the above are according to poster NELBEV at ZeroHedge.com
Oh damn. Here we go.
FDIC and the Fed will pay nothing; it's the Taxpayers who will fund the bank's failures, with NO ACCOUTABILITY, as always, for the assholes that committed Fraud.
Logged on wells Fargo and got message that if account is not correct not to worry.
You might be right. I should have been more clear. The link in Post #2 seems to indicate that most of SVB’s assets are mortgage-backed securities.
Dow Jones now DOWN 405 points. The big plunge today started almost from the moment the bank’s failure was announced.
-0.23% is not plunging. The Dow is now down -1.18%. Still not plunging ... yet.
When is enough enough?
This puppet of Obama needs to be dragged off to Happydale. The rest of the family belongs in Leavenworth.
Cramer is a great contrary indicator.
;-) So true!
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