'The government has 48 hours': Billionaire investor Bill Ackman calls on Biden to bail out SVB by Monday MORNING or face catastrophic market meltdown and loss of tens of thousands of jobs

Daily Mail ^ | 3/12/2023 | James Gordon

[marcusmaximus]

The bank is at least 10% short based on their final bond sell off pre shutdown.

[AnotherUnixGeek]

"@SVB_Financial depositors will get ~50% on Mon/Tues"

That's for depositors with over the $250k in deposits guaranteed by the FDIC. I don't have that kind of problem, but it's going to be a huge problem for the corporations that do have those kinds of deposits with not only SVB but other mid-size banks - those companies are going to be scrambling to recover their deposits ASAP so they can meet payroll and expenses.

Expect wide-spread bank runs.

[Brian Griffin]

Interest on deposits needs to be high enough to function as an insurance premium for the risks involved.

[DejaJude]

Exactly! The taxpayers are the ones to pay for the loans to all those green and diversity projects.

[Cowgirl of Justice]

Is this guy invested in this bank????

Is that why he wants a bailout???????

[ConservativeMind]

The bank had plenty of money in its assets. Over $35 billion more than is needed to completely pay off depositors.

[marcusmaximus]

Ackman is begging for deposit guarantees for accounts over $250k and he’ll get them by the end of today.

[Alberta's Child]

I don’t think this bank really needs a “bailout.” At the end of 2022 its assets still exceeded its liabilities by a decent margin.

What the bank needs is just some kind of assurance for its customers so they don’t try to withdraw all their deposits at one time.

[Leaning Right]

> We can’t afford it Bill. We sent all of our money the Ukraine… <

I think you’re on to something here. SVB should sell itself to Ukraine. Then Biden can bail out the bank, and claim it’s being done to stop Putin.

Congress would applaud. The mainstream media would applaud.
American taxpayers wouldn’t be so happy. But nobody cares about them.

[Sirius Lee]

Half the country still won’t be able to figure it out

Half of the country has no game in the real world economy. They're either getting free stuff with each swipe of their EBT cards, or getting free stuff by literally stealing it, or sitting in Mom's basement playing video games with a Gender Studies diploma hanging on the wall mooching off Dad.

[ConservativeMind]

Yes.

[Socon-Econ]

Bailout the little depositors but not the shareholders. Capitalism cannot be all reward and no risk.

[marcusmaximus]

The bank sold off its most marketable bonds last week at a 10% loss. What about their least marketable bonds?

[ConservativeMind]

The bank owners are responsible for those “guarantees.”

[Pete Dovgan]

NO MORE BANK BAILOUTS

The cryptos and banks and union pensions that leveraged themselves for democratic party candidates, blm, woke craziness, and ballot harvesting MUST be allowed to now fail. If not, the US government will spend us all into slavery.

Balanced Budget Amendment.

[RoosterRedux]

Bill Ackman. **snicker**

The world is always coming to an end next week says Ackman.

And when the world doesn't come to an end and Ackman is asked for comments, he says "Not this week. Next week."

[mewzilla]

The parent company of SVB is incorporated in Delaware.

Wonder if that has any bearing on recent events...

[SaveFerris]

Until the EBT cards stop processing - Then it will be “mostly peaceful” burning of the cities.

[GOPJ]

A WOKE bank that went broke - NOT our problem.

[ridesthemiles]

WEllS Fargo employee paychecks didn’t get issued Friday: “COMPUTER GLITCH”