Charles Payne on Silicon Valley Bank Bailout: 'This Is a Bailout of the Elites'

Rumble ^ | Charles Payne

[cuz1961]

https://rumble.com/v2cydo2-charles-payne-on-silicon-valley-bank-bailout-this-is-a-bailout-of-the-elite.html

Video at link

Runtine 2 min 58 sec

[Alberta's Child]

Bankwalker posted an excellent article on this subject yesterday that pretty much tells the whole story ...

The Demise of Silicon Valley Bank

[Hot Tabasco]

The Ford Motor Company (just one example) has 88,000 employees

Not falling for that ploy, we're dealing with facts, not hypotheticals.....

[Alberta's Child]

What hypothetical? Do you think Ford doesn’t have 88,000 employees in the U.S.?

[Hot Tabasco]

This is about SVB, not Ford. Stay on topic.......

[Hot Tabasco]

One of the people you describe there is a FReeper who owns a company that has its business accounts in SVB.

So who is he so we can read his posts?

[ConservativeInPA]

Are you telling me you don't use banks at all?

Stop with the drama. It’s not my responsibility to cover people’s piss poor decisions. It’s not my 5-year old grandson’s responsibility to pay for this crap the rest of his life. We don’t live in a collective. We are not collectively responsible for other people’s screw ups. It’s business. It’s not about feelings.

I certainly use banks. Due diligence is required when selecting key services for business. When I owned my business I knew my banker. We went hunting, fishing and golfing together. We knew each other’s families. He knew my lawyer, CPA and insurance guy. I assembled a team that I could trust. If there was a hint of political correctness or a notion he supported sodomy I would not do business with him.

SVB is filled with leftists. That is a no go zone. They shouldn’t be my problem, but they are now. They are every American’s problem.

[Pelham]

“Bankwalker posted an excellent article on this subject yesterday that pretty much tells the whole story “

I agree. I read that article and it’s the best description that I’ve seen of how SVB got itself into the bind that ended up wrecking it.

[Harpotoo]

Lol, the sniffer went from FAKE TAXING BILLIONAIRES to real bailing them out with average tax payer funds.
Does it get any funnier than this?-)

[wny]

Just imagine the lefthole hysteria if it was an oil company being bailed out…..

[Alberta's Child]

This is about SVB, not Ford.

Please pay attention. My comment was about SVB's customers, not SVB -- some of whom could very well have recurring operating expenses comparable to Ford's.

[Alberta's Child]

It’s not my responsibility to cover people’s piss poor decisions. It’s not my 5-year old grandson’s responsibility to pay for this crap the rest of his life. We don’t live in a collective. We are not collectively responsible for other people’s screw ups. It’s business. It’s not about feelings.

I'm perfectly fine with that. But then we should all be prepared to have a standard of living comparable to the U.S. in the 1840s. Your grandson wouldn't have to pay for any of that crap because he'd be walking a plow behind a mule in 2040 just like all his ancestors did.

[Alberta's Child]

When I owned my business I knew my banker. We went hunting, fishing and golfing together. We knew each other’s families. He knew my lawyer, CPA and insurance guy. I assembled a team that I could trust. If there was a hint of political correctness or a notion he supported sodomy I would not do business with him.

I DGAF about the political correctness. How many bank runs did he get you through?

[Alberta's Child]

Did your bank accounts have FDIC coverage?

[frank ballenger]

Urgent news flash——the rich get richer and the poor get poorer.

[entropy12]

That was my point. We all pay for FDIC insurance through lower interest on savings and higher interest on bank loans.
So it is justified rescue upto $250k amount. Anything over that is bailout by government using tax dollars.

[Tell It Right]

US Treasuries are considered the world’s safest asset. Even countries hostile to us own them.

True that. In fact I'm invested in treasuries currently more than usual as a hedge against a stock downturn. But even with that I have some cash on hand in savings and money market funds to handle immediate budget needs. I'm typing this from a personal investment standpoint and running a household budget (with an extra financial burden of currently putting a "kid" through nursing school). If I was running a business and having to meet payroll I'd depend even more on cash accounts (savings and money markets).

That is, of course, unless you're invested enough in treasuries so that the dividends provide the necessary cash flow. Which this was evidently not the case. The bank's holdings of treasuries wasn't generating enough dividends to meet the demand of people withdrawing from savings accounts.

[ConservativeInPA]

I'm perfectly fine with that. But then we should all be prepared to have a standard of living comparable to the U.S. in the 1840s. Your grandson wouldn't have to pay for any of that crap because he'd be walking a plow behind a mule in 2040 just like all his ancestors did.

Where the hell did that come from? You certainly are a drama queen.

[dfwgator]

It’s a Big Club, and you ain’t in it.

[ConservativeInPA]

I DGAF about the political correctness. How many bank runs did he get you through?

None, but that has nothing to do with SVB being bailed out by citizens and having zero to say about. Your problem is that you don’t care about political correctness or wokeness. It’s ok with you to do banking with people concerned with EGS, faggots, climate change and everything other than banking. I don’t do business with people like that. If more people didn’t do business with them, then they wouldn’t be so large and have such a profound impact on Americans.

[ConservativeInPA]

Did your bank accounts have FDIC coverage?

What do you think? Are you a moron and not know?