Posted on 03/10/2023 5:22:45 PM PST by PK1991
Billionaire investor Bill Ackman says the US government should consider a "highly dilutive" bailout of Silicon Valley Bank amid jitters about its financial position. The bank's failure "could destroy an important long-term driver of the economy as VC-backed companies rely on SVB for loans and holding their operating cash," Ackman said in a series of tweets on Thursday. "If private capital can't provide a solution, a highly dilutive gov't preferred bailout should be considered," he said.
(Excerpt) Read more at msn.com ...
FDIC. Federal DEPOSIT Insurance Corporation. Banks are not part of it. Depositors are. But, it’s been done before. Right or wrong, the Gubmint will come to their aid...at our expense.
Payroll accounts are practically always zero balance.
This demand wasn’t unexpected.
Post of the day.
I just love how DC will be falling over itself to spend tax dollars, some collected from East Palestine, to ensure no Silicon Valley millionaire is harmed.
There should Never be a bank bailout, SIEZE ALL ASSETS of Corporate Officers, make depositors whole and the Bond and StockHolders EAT all the losses
Tens of millions in a checking account? No; you are likely to have tens of millions in repurchase agreements. You are not going to leave that kind of scratch sitting in zero interest accounts.
Trust me, the VCs don’t have their money deposited in SVB, the small businesses they backed do.
It’s these businesses that are being damaged, not the VCs. At least not directly.
What I’m thinking.....he’s got a billion or two. Cough it up.
What could go wrong...
SVB focuses on being woke, not banking. The fund woke businesses that focus on DIE (Diversity, Inclusion & Equity) not their fundamental business. They deserve to DIE.
I am fed up with these leftist, Godless, perverts. The need to learn some lessons the hard way. That begin by reaching rock bottom. They can fully count on my help to get there. I won’t lift a finger.
Put your money where your begging is, dickhead !
Fascist Corporatism is embraced by a New York guy named Ackman. The world has gone mad.
Just the first of more to come.
GM will be seeking bailout again before this is all over-
given she went all in on electric at the absolute peak-
not going to help their local suppliers that MI just went back to forced to pay a union to work.
The FDIC seized all assets of the bank which are more than the deposits in the bank by $40 billion.
The problem is that if the FDIC sells the assets right now they will get less than the book value. How much less I don’t know. But Silicon Valley was forced to sell assets because of the amount of the withdrawals. And now everyone wants to withdraw.
ebh posted this on another thread clear concise the fed did it.:more to come...
Yes. Steve Van Metre on Youtube explains this.
ping 37
1. The bank owners are stating the government should bail THEM out. They don't want to lose money.
2. A lot of deposit accounts had much more than $250,000 in them. The FDIC only insures up to $250,000. Banks only pay insurance premiums on that dame $250,000. The depositors know this. However, they can ask for their deposits to be brokered across multiple banks, assuring they get FDIC insurance for each $250,000 increment. In this case, it may bot have happened.
The depositors’ money is still in loans that are being paid and investments that are, too, but selling off investments today to allow depositors to access cash (by freeing up where their cash had been invested) is very costly, when outside of what was planned. Peter Thiel and others may have encouraged this, in fact.
If everyone had kept going with the same use of cash, the bank would likely have been okay today.
I don't believe bank owners should get any money before cash depositors get back all of their monies.
SANTA CLARA, CALIF. – January 10, 2022—Silicon Valley Bank, the bank of the world’s most innovative companies and their investors, today announced it has committed to provide at least $5 billion by 2027 in loans, investments and other financing to support sustainability efforts and the company has set a goal to achieve carbon neutral operations by 2025.
“Our ability to make a meaningful difference for people and the planet, and to address the systemic risk that climate change presents, is magnified by the outsized impact our innovative clients make,” said Greg Becker, CEO, Silicon Valley Bank. “Over the last 12 years, our Climate Tech and Sustainability and Project Finance teams, for example, have supported hundreds of companies that are working to accelerate the transition to a more sustainable, low carbon world.”
SVB’s sustainable finance commitment aims to support companies that are working to decarbonize the energy and infrastructure industries and hasten the transition to a sustainable, net zero emissions economy in several related sectors:
Circular economy
Climate resilience
Energy efficiency and demand management
Green buildings
Renewable energy, energy storage and grid infrastructure
Sustainable agriculture and alternative foods
Sustainable transportation
Technology solutions that mitigate greenhouse gas emissions
Waste management and pollution control
Water technology
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