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- Dec 19, 2022
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Bank Run Watch 2023 after Silicon Valley Bank shutdown - Over 97% of SVB's assets were not FDIC insured
- Thread starter chiobu
- Start date
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- Apr 21, 2013
Like $150 billion at least.
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- May 6, 2020
Bros, I've got a bad feeling about this...
archive.ph
Jim Cramer on Twitter: "JP Morgan is a fortress" / Twitter
archived 10 Mar 2023 22:27:32 UTC
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- Feb 16, 2016
I've never been more happy to be mostly invested in dip-bought oil, tobacco, and occasional oddities and dingles here and there, and working for a business that at WORST trickles down from tech workers.
This probably won't do anything good for the ol' roblox shares though, holy shit.
This probably won't do anything good for the ol' roblox shares though, holy shit.
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- May 22, 2022
I have said this before but end the Federal Reserve and fractional reserve banking. If they bail these assholes out I will lose my fucking mind.
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- Jun 7, 2018
So nobody saw this coming.
It's almost like the media has been exclusively talking about trooning out people's kids, how much damage whites do to blacks by merely existing, how only starving ourselves and imprisoning ourselves in urban hives can save the planet, and sixty gojillion boosters and pentaoctuple masking with 60 yards of social distancing will stop Covid Ultra Wide With Wings For Xer Comfort from being superspreading.
It's almost like the media has been exclusively talking about trooning out people's kids, how much damage whites do to blacks by merely existing, how only starving ourselves and imprisoning ourselves in urban hives can save the planet, and sixty gojillion boosters and pentaoctuple masking with 60 yards of social distancing will stop Covid Ultra Wide With Wings For Xer Comfort from being superspreading.
Ancient Pioneer
kiwifarms.net
- Joined
- Jun 27, 2019
No, people were aware that liquidity is drying up, but which particular bank was going to eat shit first was entirely unknown, there is usual suspects like DB or Credit Suisse that people expect to collapse but wont, but it isn't easy to divine which shithole bank has the worst portfolio.
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- Jan 17, 2021
The degree of fallout from this will be interesting to see. A lot of startups will fold next week due to payroll misses (~80% of SVIG deposits were uninsured), but outside of that really anyone's guess. Further cements the end of the 2010's venture capital feeding frenzy at least.
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- Sep 6, 2019
A lot of these affected startups will likely go under. While they will likely get most of their money back after the FDIC finishes liquidating their assets the process will take at least several quarters and probably a whole year. While interest rates continue to rise and SVBs assets keep diminishing in value. Anyway, it will likely take up to a year until they get their money back, minus what 10-20-30% haircut there will be.
I expect that good and healthy startups with a proven product and are close to breakeven will somewhat easily find new venture capital in order to continue running their business. It might not be cheap money anymore and it might cost an arm and a leg but there will always be venture capital for low-risk investments.
Other companies that are not close to breakeven or have a more experimental unproven product will be culled.
For VCs with cash on hand next few weeks will have incredibly good investment opportunities where they can basically demand whatever they want and however big share they want from distressed low-risk companies.
I also expect starting next week that a lot of people will be furloughed until the companies sort out alternative funding. Payroll is not something you can be late on. You can stop paying rent, become late in paying taxes, stop paying your bills without too much immediate trouble but being late on payroll is serious shit. This is ne of the things that can pierce the corporate veil and make C-suite personally responsible.
I expect that good and healthy startups with a proven product and are close to breakeven will somewhat easily find new venture capital in order to continue running their business. It might not be cheap money anymore and it might cost an arm and a leg but there will always be venture capital for low-risk investments.
Other companies that are not close to breakeven or have a more experimental unproven product will be culled.
For VCs with cash on hand next few weeks will have incredibly good investment opportunities where they can basically demand whatever they want and however big share they want from distressed low-risk companies.
I also expect starting next week that a lot of people will be furloughed until the companies sort out alternative funding. Payroll is not something you can be late on. You can stop paying rent, become late in paying taxes, stop paying your bills without too much immediate trouble but being late on payroll is serious shit. This is ne of the things that can pierce the corporate veil and make C-suite personally responsible.
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- Nov 23, 2021
From what I understand it doesn't mean that all the uninsured funds are gone, it's just that disbursement will be delayed as the bank is liquidated. If it does get bad, which isn't inconceivable, what's another 50-100 billion to bail out the tech sector? They're the biggest democrat donors.
Unfortunately, this won't end with many pajeets going home. I'm sure some ultra shitty startups will go down early but they were already circling the drain.
God I hope I'm wrong. I'm so tired of 2008+ QE induced clownworld. Crash the fucking markets and start laying off feds and state workers to balance the budget.
Unfortunately, this won't end with many pajeets going home. I'm sure some ultra shitty startups will go down early but they were already circling the drain.
God I hope I'm wrong. I'm so tired of 2008+ QE induced clownworld. Crash the fucking markets and start laying off feds and state workers to balance the budget.
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- Mar 24, 2021
The biggest problem many firms will face is this is an entirely unscheduled and unpredicted "liquidity event" where investors/lenders will have an opportunity to cash out. Usually this isn't an option but when you have to reorganize to make payroll anyway, why not just take the eventual >%50 that's still way sooner than an expected acquisition/IPO and move on to a company with better prospects? Oh well, anyone effected by this is getting exactly what is deserved.
Honka Honka Burning Love
In Clown World, the only god is the one who Honks.
True & Honest Fan
kiwifarms.net
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- Aug 29, 2019
The Jeets will attempt to become uber drivers..and then realize that the Uber app doesn't work anymore.
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- Oct 16, 2020
Wells Fargo says 'technical issue' causing customers to report missing deposits
The bank sought to reassure frustrated customers that their accounts remained secure and said it was working to resolve the issue.
www.nbcnews.com
Coincidence?
Baillout incoming, lots of democrats are gonna get screwed without one.
Roku held nearly $500 million at Silicon Valley Bank and does not know if it will recover the funds
Roku held approximately $487 million of its $1.9 billion in cash at Silicon Valley Bank, which collapsed Friday and was taken over by the Federal Deposit Insurance Corporation, the streaming technology company disclosed in an SEC filing.
amp.cnn.com
Roku possibly fucked too:
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- Joined
- Feb 24, 2019
What happens to the bosses who can't pay their employees do the employees have any recourse? I'm finding this quite interesting, but know nothing about financial stuff.
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- Sep 6, 2019
Yes. In that particular case the bosses can become personally responsible to cover the salaries.
Being late or not paying payroll is one of few things that can make the executives personally liable.
The likely don't want that so in that situation everyone will be furloughed instead.
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- Jan 9, 2022
duckbutter&toejamsandwich
kiwifarms.net
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- Apr 1, 2022
Another one?
First Republic Hit by Silicon Valley Bank Failure
The bank, whose shares have lost 34% of their value in the past week, sought to calm investors on Friday.www.wsj.com
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- Mar 24, 2021
The big problem is this does nothing about hours already worked or salaries owed, technically those are immediate liabilities they'll be defaulting on if they don't have other sources of liquidity. Anyone that solely had accounts with SVB is fucked if liabilities exceed $250K as doing literally anything other than filing for bankruptcy at this point would not be operating in good faith.
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- Aug 29, 2019
US government bailout confirmed.
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- Dec 18, 2022
It's very much true. Funds are transfered to a payroll company before the checks go out. If their funds are reduced below the amount of money owed to employees on payday, some of their transactions may not work. It's important to note that payday is usually on the 15th. 5 days from today. A payroll company can serve multiple companies. Assuming a payroll of $2k an employee, that means that at best they can pay 125 people overall. Across all companies they serve. Even if a company doesn't use a third party payroll company and cuts checks themselves thats still only 125 people.
Now here is the fun part. Smaller banks have started implementing 2-3 day early pay on direct deposits of large sums for clients. What happens when the money those banks are expecting 3 days later doesn't come due to NSB errors?
Now I know what you are thinking they will just leverage their current cash to get a loan. Good luck doing that in 3 days competing against every other company at SVB, and the people willing to loan you the cash know how fucked you are if you don't get it. So you loan on their terms.