|
mycosis


Registered: 08/20/07
Posts: 19,727
Loc: USSA
|
Silicon Valley Bank Collapse
#28224386 - 03/10/23 07:53 PM (10 months, 13 days ago) |
|
|
Are we about to have another too big to fail conversation?
|
nooneman


Registered: 04/24/09
Posts: 14,555
Loc: Utah
|
Re: Silicon Valley Bank Collapse [Re: mycosis]
#28224447 - 03/10/23 08:41 PM (10 months, 13 days ago) |
|
|
Apparently it's all uninsured. Mostly startups through, so probably not too big to fail. Still that's a lot of money to just be gone. Bad time to work for a startup too.
|
koods
Ribbit



Registered: 05/26/11
Posts: 106,045
Loc: Maryland/DC Burbs
Last seen: 33 minutes, 55 seconds
|
Re: Silicon Valley Bank Collapse [Re: nooneman]
#28224915 - 03/11/23 09:55 AM (10 months, 12 days ago) |
|
|
Sounds like a poorly managed bank
--------------------
NotSheekle said “if I believed she was 16 I would become unattracted to her”
|
CHeifM4sterDiezL
Chief Globerts

Registered: 07/28/10
Posts: 22,529
Loc: United States
Last seen: 56 minutes, 57 seconds
|
Re: Silicon Valley Bank Collapse [Re: koods] 2
#28225033 - 03/11/23 11:58 AM (10 months, 12 days ago) |
|
|
Yeah this is what happens when the feds put the squeeze on with interest rates you know shit is going to get fucking clipped. When interest rates are low the fund all kinds of dumb ass shit but f bank is largely tied to a bunch of shitty low yielding "tech" start ups like crypto and other dumb ass shit when it goes the other way your pretty much sunk. This is the exact opposite of too big to fail these things are too shitty to succeed and the tap of easy money has been turned off on thier delusions.
|
koods
Ribbit



Registered: 05/26/11
Posts: 106,045
Loc: Maryland/DC Burbs
Last seen: 33 minutes, 55 seconds
|
|
Yeah banks hate high interest rates
--------------------
NotSheekle said “if I believed she was 16 I would become unattracted to her”
Edited by koods (03/11/23 01:14 PM)
|
SirTripAlot
Semper Fidelis



Registered: 01/11/05
Posts: 7,459
Loc: Harmless (Mostly)
Last seen: 2 hours, 45 minutes
|
Re: Silicon Valley Bank Collapse [Re: koods]
#28225191 - 03/11/23 01:58 PM (10 months, 12 days ago) |
|
|
Definitely the FDIC is doing its job. Hope big investors were smart enough to have multiple, separate ownership accounts to get at least $250,000 back.
It will be a clusterfuck for the agency to settle this balance sheet, bet the whole veneer will be pulled away to expose some Enron/ Washington Mutal type shit.
-------------------- “I must not fear. Fear is the mind-killer. Fear is the little-death that brings total obliteration. I will face my fear. I will permit it to pass over me and through me. And when it has gone past I will turn the inner eye to see its path. Where the fear has gone there will be nothing. Only I will remain.”
|
koods
Ribbit



Registered: 05/26/11
Posts: 106,045
Loc: Maryland/DC Burbs
Last seen: 33 minutes, 55 seconds
|
Re: Silicon Valley Bank Collapse [Re: SirTripAlot]
#28225249 - 03/11/23 03:02 PM (10 months, 12 days ago) |
|
|
Quote:
Gary Becker, CEO of the Silicon Valley Bank that failed Friday, sold $3.6 million of his own shares in the bank Thursday.
--------------------
NotSheekle said “if I believed she was 16 I would become unattracted to her”
|
SirTripAlot
Semper Fidelis



Registered: 01/11/05
Posts: 7,459
Loc: Harmless (Mostly)
Last seen: 2 hours, 45 minutes
|
Re: Silicon Valley Bank Collapse [Re: koods]
#28225408 - 03/11/23 04:58 PM (10 months, 12 days ago) |
|
|
......sold his shares, lol
https://www.theinformation.com/articles/silicon-valley-bank-ceo-tells-vc-clients-to-stay-calm
Silicon Valley Bank CEO Greg Becker on Thursday told top venture capitalists in Silicon Valley to “stay calm” amid concerns around a capital crunch that wiped nearly $10 billion off the bank’s market valuation.
On a call, Becker said that “calls started coming and started panic.” He added that the bank has “ample liquidity to support our clients with one exception: If everyone is telling each other SVB is in trouble, that would be a challenge.”
-------------------- “I must not fear. Fear is the mind-killer. Fear is the little-death that brings total obliteration. I will face my fear. I will permit it to pass over me and through me. And when it has gone past I will turn the inner eye to see its path. Where the fear has gone there will be nothing. Only I will remain.”
|
CHeifM4sterDiezL
Chief Globerts

Registered: 07/28/10
Posts: 22,529
Loc: United States
Last seen: 56 minutes, 57 seconds
|
Re: Silicon Valley Bank Collapse [Re: koods]
#28225427 - 03/11/23 05:12 PM (10 months, 12 days ago) |
|
|
Quote:
koods said: Yeah banks hate high interest rates 
Yes because it means it costs them more to borrow money and that folks borrow less money or completely puts money out of reach when it's easy money they dick it off into whatever and that's how they end up in these asset bubbles. When the money funnel runs dry thats when the panic hits. I also suspect there was something behind the scenes that set this whole thing off but for now everything is frozen until they can figure out wtf is going on. These people had like 200 billion in assets and fell a billion dollars short to come up with the capital on a massive bank run largely because nobody wanted to touch thier outstanding junk bonds and securities which is why other banks didnt swoop in to buy it all up even tho it was a fire sale that ended at a billiondy dollar loss and couldnt raise the capital thru securities and other means. They're certainly not that far out of bounds and its not like all the money/debt disappeared in a blink or whatever everyone is still on the hook most this stuff is just plain steaming shit. They put thier cock into some dumbass shit and ended up slapped in the balls when the fear hit.
|
koods
Ribbit



Registered: 05/26/11
Posts: 106,045
Loc: Maryland/DC Burbs
Last seen: 33 minutes, 55 seconds
|
|
Junk bonds don’t have 1% interest rates.
--------------------
NotSheekle said “if I believed she was 16 I would become unattracted to her”
|
CHeifM4sterDiezL
Chief Globerts

Registered: 07/28/10
Posts: 22,529
Loc: United States
Last seen: 56 minutes, 57 seconds
|
Re: Silicon Valley Bank Collapse [Re: koods]
#28225453 - 03/11/23 05:41 PM (10 months, 12 days ago) |
|
|
One the companies that precipitated this whole nonsense was a fucking cryptobank that was already tits up. That shows the level of junk your dealing with here.
|
christopera
Stranger


Registered: 10/13/17
Posts: 14,201
Last seen: 25 minutes, 17 seconds
|
|
I was talking about getting out of my crypto just the other day, I certainly made a shitload of money, but I think that gig is up.
-------------------- Enjoy the process of your search without succumbing to the pressure of the result. A Dorito is pizza, change my mind. Bank and Union with The Shroomery at the Zuul on The internet - now with %'s and things I’m sorry it had to be me.
Edited by christopera (03/12/23 08:58 AM)
|
Ice9
3X Ban Lotto Champion



Registered: 03/20/14
Posts: 11,225
Loc: daterapeville,USA
Last seen: 1 hour, 26 minutes
|
Re: Silicon Valley Bank Collapse [Re: christopera]
#28226116 - 03/12/23 09:16 AM (10 months, 11 days ago) |
|
|
SVB failed due to a massive bank run. Their investments were not all that crazy and they were not even close to insolvent before panic in their clients set in. In 44 hours they had 42B in withdrawals and had liquidity to handle 41B of that amount. Still, my guess would be that depositors will recoup 90% of uninsured deposits during the FDIC receivership. This collapse is fundamentally different than the 2008 banking crisis, but I think does expose some risky investing strategies by banks, namely betting that interest rates will always be low (Stocking up on low yield T-bills, I read SVB had 90B in them). Curious to see if this stars a banking contagion and some other banks fail.
-------------------- The reasonable man adapts himself to the world; the unreasonable one persists in trying to adapt the world to himself. Therefore, all progress depends on the unreasonable man. -- George Brenard Shaw
|
SirTripAlot
Semper Fidelis



Registered: 01/11/05
Posts: 7,459
Loc: Harmless (Mostly)
Last seen: 2 hours, 45 minutes
|
Re: Silicon Valley Bank Collapse [Re: Ice9]
#28226870 - 03/12/23 08:27 PM (10 months, 11 days ago) |
|
|
Another shuttered, Signature Bank:
https://www.wsj.com/articles/signature-bank-is-shut-by-regulators-after-svb-failure-a5f9e0f7?mod=article_inline
The New York-based bank faced a crisis of confidence after midsize lender SVB Financial Corp. was seized by regulators on Friday. Signature was also reeling from a bet on crypto banking that foundered after the sector imploded and banking regulators cracked down on lenders’ exposure to digital assets. The failure is the third-largest in history.
-------------------- “I must not fear. Fear is the mind-killer. Fear is the little-death that brings total obliteration. I will face my fear. I will permit it to pass over me and through me. And when it has gone past I will turn the inner eye to see its path. Where the fear has gone there will be nothing. Only I will remain.”
|
nooneman


Registered: 04/24/09
Posts: 14,555
Loc: Utah
|
Re: Silicon Valley Bank Collapse [Re: SirTripAlot]
#28226892 - 03/12/23 08:46 PM (10 months, 11 days ago) |
|
|
Another bank just got propped up by the fed, First Republic Bank.
So much for raising rates to contain inflation.
|
starfire_xes
I Am 'They'



Registered: 10/24/09
Posts: 21,590
Loc: Dallas with all the assho...
Last seen: 7 months, 6 hours
|
Re: Silicon Valley Bank Collapse [Re: nooneman]
#28226904 - 03/12/23 08:56 PM (10 months, 11 days ago) |
|
|
No bailout for SVB.
|
mycosis


Registered: 08/20/07
Posts: 19,727
Loc: USSA
|
Re: Silicon Valley Bank Collapse [Re: starfire_xes]
#28227800 - 03/13/23 01:10 PM (10 months, 10 days ago) |
|
|
Not one dime of tax payer money he said.
So far this Joe Biden pimp is the greatest president of my lifetime!
|
koods
Ribbit



Registered: 05/26/11
Posts: 106,045
Loc: Maryland/DC Burbs
Last seen: 33 minutes, 55 seconds
|
Re: Silicon Valley Bank Collapse [Re: nooneman]
#28228243 - 03/13/23 05:49 PM (10 months, 10 days ago) |
|
|
Quote:
nooneman said: Another bank just got propped up by the fed, First Republic Bank.
So much for raising rates to contain inflation.
Not seeing anything about this
--------------------
NotSheekle said “if I believed she was 16 I would become unattracted to her”
|
mycosis


Registered: 08/20/07
Posts: 19,727
Loc: USSA
|
Re: Silicon Valley Bank Collapse [Re: koods] 1
#28228247 - 03/13/23 05:54 PM (10 months, 10 days ago) |
|
|
Joe Biden is not putting up with this shit. He's cold as ice eating ice cream while everyone else melts.
None of that let's do a big beautiful deal and make the tax payers pay for it.
|
nooneman


Registered: 04/24/09
Posts: 14,555
Loc: Utah
|
Re: Silicon Valley Bank Collapse [Re: koods]
#28228299 - 03/13/23 06:36 PM (10 months, 10 days ago) |
|
|
Quote:
koods said:
Quote:
nooneman said: Another bank just got propped up by the fed, First Republic Bank.
So much for raising rates to contain inflation.
Not seeing anything about this
https://www.cnbc.com/2023/03/13/first-republic-drops-bank-stocks-decline.html
|
|