McCarthy says he’s hopeful U.S. officials will make Silicon Valley Bank announcement before market opens

To: marcusmaximus

Pelosi today was already trying to Blame Trump for this banking failure by “making certain policy changes” regarding the 2008 Banking acts. She didn’t cite what changes, she just said it was Trump that did it.

I wonder what exposure she and hubby have with SVB?

41 posted on 03/12/2023 2:49:21 PM PDT by mdmathis6 (A horrible historic indictment: Biden Democrats plunging the world into war to hide their crimes!)

To: marcusmaximus

“I’m hopeful that something can be announced today to move forward.”

I hope so, too, Kevin - but you and I are probably not hoping for the same announcement.

I'm like, lampposts, and rope. How 'bout you?

42 posted on 03/12/2023 2:55:06 PM PDT by Jim Noble (You have sat too long for any good you have been doing)

To: Dilbert San Diego

I’ve heard that this bank actually had a strong balance sheet, but the problem was they couldn’t cash out enough of their bond holdings, to get the cash to depositors withdrawing their money.

I am doubting that story given how quickly they failed. They managed to give out bonuses before regulators stepped in.

They must have screwed something up royally. If it was just we put too much reserves into long term mortgage back securities, you can usually put together a coalition of deep pockets to take them off your hands at a price better than what the market is paying.

I speculate here: they were doing something they shouldn't have been. Word got out. Depositors tipped off by their VC investors started to pull money out, in droves. The house of cards fell apart.

I doubt they were the only bank doing this. So how many other banks are in the same situation? We won't know until depositors start shifting money around to protect it. That may push a few more banks over the cliff.

Further speculation: this is only the beginning, let's see how far Alice falls down the rabbit hole this time.

43 posted on 03/12/2023 3:01:52 PM PDT by stig

To: Forward the Light Brigade

This whole 💩 show is headed for a crash anyway. Let’s get it over with so my kids have a chance

44 posted on 03/12/2023 3:29:22 PM PDT by cableguymn

To: frank ballenger

Since you drew the analogy (She is the “first woman” this and was the “first woman” that. “Historic” like VP Harris) I couldn’t help but tie her to Harris’ silliness. The whole Venn diagram thing was absurd, but Harris and Yellen can get away with nonsense like that because they are “historic”.

45 posted on 03/12/2023 3:40:33 PM PDT by Starboard

To: marcusmaximus

And there Kevin goes...back down the uniparty hole.

46 posted on 03/12/2023 4:02:07 PM PDT by Fledermaus (It's time to get rid of the Three McStooges; Mitch, Kevin and Ronna!)

Careful with that statement. I made it also and was assured the FDIC insured banks, so all will be OK.

I was worried that the various other government social programs were full of IOU’s, but apparently they have vaults full of cash for this situation.

47 posted on 03/12/2023 4:05:57 PM PDT by It Aint Easy

All depositors made whole. ALL. Equity holders wiped out. This is the final deal and not a bailout.

48 posted on 03/12/2023 4:16:13 PM PDT by Mouton (The enemy of the people is the media )

To: marcusmaximus

BAILOUT. We are suckers.

49 posted on 03/12/2023 5:42:37 PM PDT by cp124 (80% of everything is fake or a lie.)

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