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

Signature Bank closed, bailout confirmed

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www.cnbc.com

Regulators unveil plan to assure depositors will get money after SVB collapse

Banking regulators devised a plan Sunday to shore up deposits at Silicon Valley Bank, a critical step in stemming a feared panic.
www.cnbc.com www.cnbc.com


Treasury Press Release https://home.treasury.gov/news/press-releases/jy1337
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@Null something happened I think
 
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ZazietheBeast said:
"Its cool bro, you'll find a job!"
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All you need is a college degree! Here! Assume this $180,000 in debt, you'll pay that off in no time when you graduate!

I hate the whole damn system top to bottom at this point - I could see at only 14 that the economy they wanted? One that doesn't actually make any tangible goods? It can't last forever. In fact, it seems like it'd crash in a decade at most. You can't tear out your beating heart and put it on a shelf in another room of the house and expect to keep living... but they did just that.

It should've died in 2000, instead, they just keep buying bags of blood for transfusion and call it growth...

It makes me sick what they did to the greatest industrial economy on the planet, it could've made enough jobs and income for everyone, but in only about 15 - 20 years, they reduced it to an empty rusting shell, and have been telling me ever since that it was good for me and I should be grateful..... by people who conspicuously have more homes than I do pairs of boots.

And none of them not one, will ever have to explain themselves before any of us.
 
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mandatorylurk said:
Scenario 1: no bailout, tech faggots cry and whine that they can't do another Blue Apron or Manscape or Grammarly. California collapses, but the faggots have no money so they can't keep fleeing to other states to infect them. Gavin Newsom can't run for President because he looks like even more of a failure. The recession is so obvious they can't pretend it doesn't exist like they're doing now. It gets so bad they have to stop giving Ukraine free gibs.

Scenario 2: bailout, done by democrats and RINOs like Romney, further making the democrats the new party of the rich and elite. People see California getting a bailout while Ohio is to sit there in poison. People start running cars with CA license plates off the road. Bailout makes inflation and everything you're dealing with even worse, making it more pronounced, right in time for '24. The actual class warfare the democrats always talk about occurs but not the way they expected.
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I think this scenario is likely. Just take out the part about giving Ukraine money because that's never going to happen. The America and Russia screwing with each other is just way too important it seems. Even if it did happen the Russians are done in Ukraine anyway. They aren't going to win. Ukraine has already been flushed with cash and weapons. Tech faggots will cry.

Someone said in a previous post that the government already stepped in so there is no reason for a bailout. That there is nothing to bailout.

Though they could do a bailout if things are bad enough. They haven't been put under pressure yet. See, back in 2007 and 2008 what they told people was that if they didn't bailout the too big to fails we would be in Mad Max or Fallout in a matter of weeks. They literally said people killing each other over cans of soup. Of course, that wouldn't have happened that was all just BS. It was a scare tactic to get the money printing going. Another lie they sold to the public was that if they printed up the trillions and trillions of dollars for the rich assholes, they would use that money to create jobs. Yes, they were supposed to make jobs. But that didn't happen obviously. They did what rich people always do with money. They took it stuffed it in their pockets and never once made any jobs. It was like the trickle down lie the Republicans push to give their rich friends tax cuts. Oh, we will cut taxes on the rich and they will use the money the save to make jobs and it will trickle back down to you. That shit never happened either.

What will happen though if this goes as bad as it looks like it will go it will definitely help Trump in 2024. All he has to do is recycle his populist/nationalist economic platform again and it will sell really well with the population suffering from another micro collapse. I can't wait.
 
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It doesn't matter how much people scream "ISOLATED INCIDENT" it's not gonna stop the panic selling when people smell blood in the water.

The markets are gonna be a fucking bloodbath tomorrow. The entire fractional reserve system is a house of cards and it's about to collapse

edit: just saw regulators closed another bank in NY today, it's so fucking over, tomorrow will be a pure bear market
 
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ATI Escapee said:
Another Treasury Press release.....

"Finally, the Federal Reserve Board on Sunday announced it will make available additional funding to eligible depository institutions to help assure banks have the ability to meet the needs of all their depositors. "


archive.is

Joint Statement by the Department of the Treasury, Federal Reserve, a…

archived 12 Mar 2023 22:33:12 UTC
archive.is archive.is
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Oh the thing that never happens just happened again
 
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Bill The Fucker said:
Important to note that this isn't a bailout, this only affects depositors. If you hold equity in either of these banks, you're fooked.
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-The Normal People are fine
-The risky investors are fine <- You are here.
-The SVB shareholders paid off
-The C class staff get paid off
-SVB and its board members come back a month later with a new name.
 
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Looks like not everyone will listen to what the founder of Home Depot said despite then parts of it is an inconvenient truth.
www.theepochtimes.com

Home Depot Founder Asks Americans to ‘Wake Up’ After Silicon Valley Bank Collapse

Home Depot co-founder Bernie Marcus asked Americans to “wake up” to the reality that the U.S. economy is ...
www.theepochtimes.com www.theepochtimes.com

Home Depot co-founder Bernie Marcus asked Americans to “wake up” to the reality that the U.S. economy is in “tough times,” following the collapse of Silicon Valley Bank (SVB).
“I can’t wait for [President Joe] Biden to get on the speech again and talk about how great the economy is and how it’s moving forward and getting stronger by the day. And this is an indication that whatever he says is not true,” Marcus told Fox News on March 11.
Marcus added, “And maybe the American people will finally wake up and understand that we’re living in very tough times, that, in fact, that a recession may have already started. Who knows? But it doesn’t look good.”

Silicon Valley Bank, the nation’s 16th largest bank with about $209 billion in total assets, collapsed on March 10, after depositors rushed to withdraw money over concerns of the bank’s solvency. The Federal Deposit Insurance Corporation (FDIC) has now assumed control of the bank.
The collapse of the California bank was the second biggest bank failure in U.S. history since Washington Mutual during the 2008 financial crisis.
On Saturday, a White House statement said Biden has spoken to California Gov. Gavin Newsom on the bank’s failure. Newsom also issued a statement saying he had been in touch with “the highest levels of leadership at the White House and Treasury.”
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Quiche Lorraine said:
They will not cover the depositors and make them whole. 250k is the limit. . Rumors suggesting otherwise are just in my belief pipe dreams. Congress isn’t going to bail out SVB.

In theory - and just in theory - if SVB were auctioned off it is in theory possible for the Fed to buy it. The fed can under its own discretion buy anything it wants.

If this were to happen though one might as well take all bank regulation and throw it out the window because at that point you are signaling a”anything will be saved and the Fed will buy even shit you created”. And bankers will take the greatest possible risks to obtain returns if they’ think they can get away with it and force the Fed to buy.

Rather than the bank look to your investment banks and institutions as they are the ones that are leveraged up and at real risk. If people start taking their money out of these types of financial service firms which are heavily into Bonds then a run on them will certainly create a catastrophe larger than 08.
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The financial industry pays the movers and shakers in both parties too much for them to fail.
ZazietheBeast said:
And to add insult to injury, the asshole who mentions McD's is hiring a trainload of infinimmgirants. "Its cool bro, you'll find a job!"

But now that the shoe is on the other foot they are now, "Dude, please, just work! Find a girl, start a family! I can't really enjoy my mansion and my stuff if you don't work! Pick up a gun and defend me from the problem that I accidentally imported!"

They get what they deserve.
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It's bad enough in the Southwest that knowing Spanish is an unspoken requirement to work any fast food job.
ForgedBlades said:
View attachment 4762838

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I fucking despise that the main thing Wall Street learned in 2008 was publicizing the failures and privatizing the profits.
macrodegenerate said:
-The Normal People are fine
-The risky investors are fine <- You are here.
-The SVB shareholders paid off
-The C class staff get paid off
-SVB and its board members come back a month later with a new name.
Click to expand...
The normal people are never fine in these scenarios.
 
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namvata said:
The markets are gonna be a fucking bloodbath tomorrow. The entire fractional reserve system is a house of cards and it's about to collapse
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My thought exactly. And I work for huge Megacorp bank mentioned a lot in this thread (no, not SVB). I expect a full dog and pony shit show from upper management the minute I login. And yanno what? Given all their DEI bullshit constantly pushed forward over returns, I'll laugh like a schoolgirl and scream "HA-HA!" like Nelson as I'm shown the door. Hey, it was fun ride and paid well while it lasted.
 
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