Posted on 03/11/2023 2:44:39 PM PST by marcusmaximus
At this point I don’t believe the debt will ever be repaid.
They know it
Bet you are correct!
The bank bought treasury bills at 1% and the depositors left to get the treasury bills that are now 5%
The bank would sell the 1% bills to cover the depositors and lose money each time.
Too many depositors left and the bank was soon under water. This was all caused by the Biden administration and congress spending $6.3 trillion in less then 2 years causing massive inflation, huge price hikes across the board for everyone.
I imagine Oprah is upset as she is reported to have had $590 million in that bank.
Not her first time as she owns lots of stock in Weight Watchers. 2016 and 2019 and 2023 etc. Many stories as the stock flucterates like a persons weight. Oprah however remains fat. With $590 million loss she may need to change to “Lean Cuisine” : )
5 years ago the stock was at $101 and now is at $4.29 <-— wow!
The media mogul and 10% owner of Weight Watchers has seen $117 million in wealth vanish as shares of the company have crashed 66% from their high notched November 2015 on enthusiasm over her involvement with the company.
https://www.usatoday.com/story/money/markets/2016/09/13/117-million-gone-oprah-loses-more-than-weight/90305990/
Yep, a fat person who never loses weight owns stock in Weight Watchers.....
Our government borrows money we can't pay back, gives that money to people who came here illegally, and uses our troops as fodder into wars they have no intention of winning.
And we keep reelecting them.
Obviously the bonuses weren’t based on performance unless maybe you worked the front Desk or Janitorial, maybe not even then. I guess just occasionally showing up was enough for the Desk Jockey to collect.
Rightly said!
It looks like the date of the collapse was well planned to give top people at SVB plenty of time to shelter some of their own investment in the bank, so why not the employees. The houses were probably considered hush money.
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