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

[Meat Target]

33 banks on the list, you say... interesting.

Here they are, according to the Ruinous Powers themselves.

 

[mindlessobserver]

We've dumped billions into Ukraine, which is not a NATO member and which we were not treaty-bound to defend. What's a few billion dollars more to "protect our allies' finances? Do you want Putin to win?"

Credit suise has half a trillion dollars in assets and another 1.7 trillion dollars under management.

For context, the AIG bailout back in the 08 crash was 182 billion dollars. By my rough calculations, bailing out Credit Suisse would require around 13 times more money then one of the largest bailouts in US history. Its no wonder the European Central Bank isn't returning their calls. They probably want to eat a bullet right now.

 

[Stoneheart]

For context, the AIG bailout back in the 08 crash was 182 billion dollars. By my rough calculations, bailing out Credit Suisse would require around 13 times more money then one of the largest bailouts in US history. Its no wonder the European Central Bank isn't returning their calls. They probably want to eat a bullet right now.

the damage of CS crashing is much higher than 13 times AIG.
also the ECB doesnt have to save them, the idea right now is that the swiss cant save CS alone and are scrambling to find partners for the bailout. i bet the fed isnt returning calls right now either.

 

[mindlessobserver]

the damage of CS crashing is much higher than 13 times AIG.
also the ECB doesnt have to save them, the idea right now is that the swiss cant save CS alone and are scrambling to find partners for the bailout. i bet the fed isnt returning calls right now either.

But Modern Money theory assured us you can just clap your hands and believe! Just print up a couple trillion dollars to back stop CS! Clap your hands everyone! Oh please, won't you clap?!

 

[tehpope]

Jimmy Dore and co. go over the bank issue.

 

[CaptainAutism69]

And SPY is only down 1%. Europoor stocks got hammered though...glad I cashed out on my Semens Energy LEAPS and BAYN stonks a couple of weeks ago.

 

[Meat Target]

So, what are their options for getting out of this, if there are any?

Bailouts and firing up the money printer will only make the Zimbabwefication worse. Rate hikes are a no-go. If banks fail, and depositors are not made whole, there's gonna be a lot of angry people. Raising taxes will take too long, and won't be enough to make a difference.

 

[macrodegenerate]

So, what are their options for getting out of this, if there are any?

Bailouts and firing up the money printer will only make the Zimbabwefication worse. Rate hikes are a no-go. If banks fail, and depositors are not made whole, there's gonna be a lot of angry people.

For the average banker in Switzerland at this point, there is only one way out.

 

[Elämällä on väliä]

We call these municipal bonds in the US. The problem is that the default risk is higher than Treasury bonds for not much extra return.

Informative.

So, what are their options for getting out of this, if there are any?

In case of any failure in EU or very close countries this will nto be like 'bankrupt, cash into toilet' but rather Dexia-like divide of problematic bank into two separate units:

- residual unit with toxic waste asssts,
- 'good bank' with non-problematic assets.

In this case shareholders and bond owners of problematic bank are fucked in their ass. Hard. Multiple times. But other people (analogs of that fifithing from USA, most of coomsumers of bank products) are OK.

 

[mindlessobserver]

So, what are their options for getting out of this, if there are any?

Bailouts and firing up the money printer will only make the Zimbabwefication worse. Rate hikes are a no-go. If banks fail, and depositors are not made whole, there's gonna be a lot of angry people. Raising taxes will take too long, and won't be enough to make a difference.

Gold, land, suicide?

 

[Enig]

So, what are their options for getting out of this, if there are any?

 

[nostalgiasorrow]

So, what are their options for getting out of this, if there are any?

Bailouts and firing up the money printer will only make the Zimbabwefication worse. Rate hikes are a no-go. If banks fail, and depositors are not made whole, there's gonna be a lot of angry people. Raising taxes will take too long, and won't be enough to make a difference.

they're gonna start using those frozen Russian Assets that they have

 

[lurking for the deets]

California got hit with flash flooding, then a blizzard, and another round of flash flooding happening this week and now their silicon valley bank collapsed on them. Divine retribution, you love to see it.

 

[macrodegenerate]

they're gonna start using those frozen Russian Assets that they have

You know the fucking funniest thing about the Ukraine war is? With all of the Russian assets seized, at this point they are basically insolated from the collapse of the western banking system. Ironically the West's dependency upon economics as warfare may have very well saved their enemies.

 

[Some Dumb Faggot]

So, what are their options for getting out of this, if there are any?

Bailouts and firing up the money printer will only make the Zimbabwefication worse. Rate hikes are a no-go. If banks fail, and depositors are not made whole, there's gonna be a lot of angry people. Raising taxes will take too long, and won't be enough to make a difference.

Start World War 3?

 

[Meat Target]

Don't call it a bailout, it's "providing liquidity".



Hey, remember Credit Default Swaps? If you've read or seen The Big Short, you probably just shat a brick.

 

[Caustic Gelatin]

Are credit unions for poor people? Asking for someone poor.

I came here via doxing, I'm late, I know. Sorry.

No but they are (usually) smaller. Think more like local banks that has clientele mostly of average Joe Schmos and local businesses. Useful if you just want a basic checking/debit account without a bunch of bells and whistles. From what I understand they offer (slightly) better rates on shit like auto loans/house loans. I know some can offer member perks, like the local one near me has a financial advisor you can talk to for free if you need advice. Sometimes I see fliers about them having little seminars about saving for retirement or other such stuff.

They also seem to be a bit more approachable if you are doing some community whatsit. I see my local one being a sponsor for many community events around here.

 

[Some Dumb Faggot]

California got hit with flash flooding, then a blizzard, and another round of flash flooding happening this week and now their silicon valley bank collapsed on them. Divine retribution, you love to see it.

God must have stumbled across the stinkditch board.

 

[stupid frog]

thus ends the history of credit unions, longishly given

No, it was helpful! Thank you! I assumed they were banks just small, basically. Which I guess is kind of true. But not all there is.

Thanks as well, @Caustic Gelatin !

 

[Socrates]

Don't call it a bailout, it's "providing liquidity".

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Hey, remember Credit Default Swaps? If you've read or seen The Big Short, you probably just shat a brick.

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"Funny sounding Germans without the Holocaust baggage pledge to plug gaping 12GA buckshot wound with duct tape and chewing gum."