Bank Run Watch 2023 after Silicon Valley Bank shutdown - Over 97% of SVB's assets were not FDIC insured

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Polarity said:
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.
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Don't bet on a bailout over this. It's a Republican House, and if the damage is limited to startups and break-even tech companies there's little chance the Reps (or for that matter some Senate Dems) will vote for such a measure. Not like California is going to vote Republican anytime soon after all, lets the RINOs finally pretend to be fiscally conservative.
 
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sadrefrigerator said:
Few companies actually pay 300k salary, unless you get really high . Total Comp is usually made of salary + bonus + stock. The stock portion usually ends up being a bulk of the comp at senior + positions which is why tech comp has dropped significantly recently. The companies that are in deep shit due to the bank are going to be the small startups, who aren't paying anywhere near top silicon valley compensation.
Going for 'sustainable' or 'safe' salary is generally a losing strategy. If all aspects of a job were the same, theres no reason to work for less money just because you consider one position "safer" than the other. You can and will get laid off for any reason. Just collect your severance and look for a new job. Staying too long in one position is an easy way to be unmarketable. You also lose out on opportunity cost as your career progression and comp increase is linked to your current position, so the trajectory of your income is lower in the future as well.
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Tbh, I'm trying to be out of the corpo software world in three years. I'm okay with where I work, but I'm done with the field if I get laid off. I can't take this unlife anymore, and I want to get into anything else.
 
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This shit is abnormal to be filed. It’s basically Liam Nelson and Baghdad Bob saying “everything is fine”.

If BALLS on the FDIC doesn’t get someone to loudly and publicly take over SVB tomorrow, watch out. Bank runs are back on the menu boys.

Some nerd in hacker nudes:

- Their actual assets market-to-market (sold on the fair market) is about $26 bln less than the amount they're carried at on their books. This is as of year end 2022, probably more today.

- This would wipe out all their equity, loans, and start hitting depositors.

- If there was a bank run, First Republic probably would not be able to meet all depositors.

- First Republic in some ways is in worseshape that SVB. SVB had all their assets in medium duration (10 year) treasuries. First Republic has a lot more 30 year mortgages they gave people at ultra low 2% interest rates. Today 30 year mortgages are 6%, which means if they tried to resell these loans they'd get more than 50% off.

- Personally, I know of at least a couple of HNWIs who pulled funds other than $250K today. Who can blame them -- what's the upside if you have more than $250K in? First Republic relies on wealthy deposits, and these are not insured.
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quaawaa said:
Can't make this up:
View attachment 4750090
Source (Page 10) (Archive)
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As Co-Chair of EMEA Silicon Valley Bank (SVB) LGBTQ+ network, Jay is a leading figure for the bank’s awareness activities including being an panelist at the SVB’s Global Pride townhall to share her experiences as a lesbian of color, moderating SVB’s EMEA Pride townhall and was instrumental in initiating the organization's first ever global "safe space catch-up", supporting employees in sharing their experiences of coming out.

Jay created the first month-long SVB EMEA Pride campaign, involving an awareness video with representatives of the firm’s LGTBQ+ communities and allies across the Executive, Board, Stonewall, and SVB UK's LGBTQ+ charity partner. She volunteered to be a panelist on SVB India's first Pride session, highlighting the challenges of Asians across LGBTQ+ communities. She authored numerous articles to promote LGBTQ+ awareness, such as Lesbian Visibility Day, Trans Awareness Week and recently an external blog, on Youth Mental Health Day to highlight mental health issues among young LGBTQ+ people, especially from ethnic backgrounds.

To promote LGBTQ+ best practices for SVB’s external clients, she hosted an exclusive fireside chat with Suki Sandhu OBE, Founder and CEO of Audeliss and Involve. She is a trustee for Diversity Role Models, who promote LGBTQ+ education and inclusion in schools.
finance.yahoo.com

INvolve Outstanding Top 100 LGBT+ Future Leaders Role Models 2022

2022 INvolve Outstanding LGBT+ Role Models: Top 100 Future Leaders
finance.yahoo.com finance.yahoo.com


Does this chick do anything other than host LGBT shit and lick carpet?
 
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macrodegenerate said:
Tbh, I'm trying to be out of the corpo software world in three years. I'm okay with where I work, but I'm done with the field if I get laid off. I can't take this unlife anymore, and I want to get into anything else.
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I felt the same earlier in my career. Then I tried working remote for a startup. It showed me I was just sick of bureaucracy and pissed out at everyone in the office lol.
 
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Scale Smerch said:
Don't bet on a bailout over this. It's a Republican House, and if the damage is limited to startups and break-even tech companies there's little chance the Reps (or for that matter some Senate Dems) will vote for such a measure. Not like California is going to vote Republican anytime soon after all, lets the RINOs finally pretend to be fiscally conservative.
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It's already whipping around Conservative GOP circles that SVB had some rather impressive ESG statements and requirements for Credit worthiness. I'm getting a definite feeling of "FUCKEM!" from the hardcore holdouts. Whether it will be enough to stop some joint action by Dems and RINO's remains to be seen. Plus who knows what Schrodinger's Senate is capable of at the moment.?
 
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Rip to all the kiwis working for start ups.
RodgerDodger said:
Joe Blogs is a bit of a moronic Doomposter. Mostly half assed regurgitations about China. He’s pure Aussie clickbait. Of the “was MH370 taken by aliens?” Variety. So he might be almost as bad as Jim Kramer. He’s not a financial analyst. He’s a Youtuber slowly working his way to lolcow.
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I wasn’t aware, the video just popped up in my feed.
CognitiveDeficiency said:
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If Roblox gets affected by this. *Chef’s kiss*
 
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While we all root for the collapse of the big gay, I'm feeling sorry and bad for the thousands upon thousands that will get fucked or the millions if this gets a big contagion.
I'd say RIP to Ukraine and Taiwan if there's a bailout, no chance in hell that Biden will be able to fiscally increase the defense budget while there's a shit ton of disasters at home to deal with.

EDIT:Cramer acts like a drunken gambler dad that bet his son's tuition on a 7-2 deck and lost the bluff:
 
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BelUwUga said:
You know it's real when the suicide hotline gets posted.
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I would tell these fuckers to "JUMP! You can make it!" but then I remembered they would die of a heart attack trying to get up to the roof.

It'll be interesting to see if this hits higher education, I think it will. Can't wait for public universities to double down even more on royalties bullshit because "Muh guberment funding is flat" and "Our alums don't donate (because we ran them off with diversity and LGBTQIA BS)"!!
 
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