Posted on 03/12/2023 7:54:05 PM PDT by DoodleBob
Stock futures jumped Sunday evening after regulators announced a plan to backstop all the depositors in failed Silicon Valley Bank and make additional funding available for other banks.
S&P 500 futures gained 1.1% and Nasdaq 100 futures rose 1.2%. Futures tied to the Dow Jones Industrial Average were up by 265 points.
All Silicon Valley Bank depositors will have access to their money starting Monday, according to a joint statement from the Treasury Department, Federal Reserve and the FDIC.
(Excerpt) Read more at cnbc.com ...
I will not be holding my breath for a “thank you” card.
This how it goes; Up, down, up, down, up, up, up, down, down, down, down,...... Where it stops, no one knows
So the tech leftist scumbags are getting a bailout
This is chump change compared to 2008 but only the American taxpayer is not too big to fail.
dow futures currently up over 400 points
Take it day by day.
Well, I guess we can determine which banks in the future that will be bailed out based on their political contributions.
Opensecrets has this about SVB:
https://www.opensecrets.org/orgs/svb-financial-group/summary?id=D000057336
You decide.
Just keep printing money.
I mean, what could go wrong?
/sarc
Worse than that: One of the culprits at Lehman Brothers who was responsible (to a degree...) for the 2007/2008 banking meltdown did it again.
Yep, some of the same players then are players now, getting rich(er) off the same shit.
Makes me sick.
This crap only stops when brave men take up arms and start rebelling.
...wait...did you say UP?
A couple of pre-market traders trying to “prime the pump” so to speak.
Dollar Falls in Aftermath of SVB Collapse
Japanese Shares Tumble on SVB Fallout
Australian Shares Slip Amid SVB Fallout
New Zealand Shares Fall to Over 2-1/2-Month Low
https://tradingeconomics.com/stream
We are gonna party like it’s 2008.
Prince Harry’s Nazi uniform is becoming threadbare. Bail out the poor man!
You first
The trend us what is important. And since Joe t he pedo took over it has been DOWN. WHen he took office the Dow was nearlly 36,000. It is around 33,000 and has not hit 34,000 since he began.
My financial advisor, who works with one if the biggest financial investment institutions in the world, told me that both stocks and cash being down at the same time is UNPRECEDENTED since The Great Depression.
I have been fortunate to tread water. I have strategized our investments to take advantage of the inevitable upswing even if that is 2 years down the road.
Might be a good open....I'd guess metals..and energy , might bounce in the morning.
Who knows....but this "M" is dicy.
FWIW
If there ever was a time for Wikileaks.
That....or, 1929.
Ha! See post 19.
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