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mycosis


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


Registered: 04/24/09
Posts: 14,555
Loc: Utah
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Re: Silicon Valley Bank Collapse [Re: mycosis]
#28224447 - 03/10/23 08:41 PM (10 months, 13 days ago) |
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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.
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koods
Ribbit



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Re: Silicon Valley Bank Collapse [Re: nooneman]
#28224915 - 03/11/23 09:55 AM (10 months, 12 days ago) |
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Sounds like a poorly managed bank
--------------------
NotSheekle said “if I believed she was 16 I would become unattracted to her”
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CHeifM4sterDiezL
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Re: Silicon Valley Bank Collapse [Re: koods] 2
#28225033 - 03/11/23 11:58 AM (10 months, 12 days ago) |
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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.
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koods
Ribbit



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Yeah banks hate high interest rates
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NotSheekle said “if I believed she was 16 I would become unattracted to her”
Edited by koods (03/11/23 01:14 PM)
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SirTripAlot
Semper Fidelis



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Re: Silicon Valley Bank Collapse [Re: koods]
#28225191 - 03/11/23 01:58 PM (10 months, 12 days ago) |
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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.”
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koods
Ribbit



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Re: Silicon Valley Bank Collapse [Re: SirTripAlot]
#28225249 - 03/11/23 03:02 PM (10 months, 12 days ago) |
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Quote:
Gary Becker, CEO of the Silicon Valley Bank that failed Friday, sold $3.6 million of his own shares in the bank Thursday.
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NotSheekle said “if I believed she was 16 I would become unattracted to her”
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SirTripAlot
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Re: Silicon Valley Bank Collapse [Re: koods]
#28225408 - 03/11/23 04:58 PM (10 months, 12 days ago) |
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......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.”
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CHeifM4sterDiezL
Chief Globerts

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Re: Silicon Valley Bank Collapse [Re: koods]
#28225427 - 03/11/23 05:12 PM (10 months, 12 days ago) |
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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.
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koods
Ribbit



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Junk bonds don’t have 1% interest rates.
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NotSheekle said “if I believed she was 16 I would become unattracted to her”
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CHeifM4sterDiezL
Chief Globerts

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Re: Silicon Valley Bank Collapse [Re: koods]
#28225453 - 03/11/23 05:41 PM (10 months, 12 days ago) |
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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.
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christopera
Stranger


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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)
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Ice9
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Re: Silicon Valley Bank Collapse [Re: christopera]
#28226116 - 03/12/23 09:16 AM (10 months, 11 days ago) |
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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
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SirTripAlot
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Re: Silicon Valley Bank Collapse [Re: Ice9]
#28226870 - 03/12/23 08:27 PM (10 months, 11 days ago) |
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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.”
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nooneman


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



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Re: Silicon Valley Bank Collapse [Re: nooneman]
#28226904 - 03/12/23 08:56 PM (10 months, 11 days ago) |
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No bailout for SVB.
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mycosis


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



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Re: Silicon Valley Bank Collapse [Re: nooneman]
#28228243 - 03/13/23 05:49 PM (10 months, 10 days ago) |
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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”
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mycosis


Registered: 08/20/07
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Re: Silicon Valley Bank Collapse [Re: koods] 1
#28228247 - 03/13/23 05:54 PM (10 months, 10 days ago) |
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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.
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nooneman


Registered: 04/24/09
Posts: 14,555
Loc: Utah
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Re: Silicon Valley Bank Collapse [Re: koods]
#28228299 - 03/13/23 06:36 PM (10 months, 10 days ago) |
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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
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CHeifM4sterDiezL
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Re: Silicon Valley Bank Collapse [Re: nooneman] 1
#28228317 - 03/13/23 06:52 PM (10 months, 10 days ago) |
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ashfiken
TotalCrazyasshole


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Re: Silicon Valley Bank Collapse [Re: nooneman]
#28228320 - 03/13/23 06:53 PM (10 months, 10 days ago) |
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Did you see that third bullet point in that article the Fed will "loan" ie bailout banks as they become insolvent with "high" quality collateral, like the treasuries the banks own.. Lmfao These same treasuries that are purportedly junk bonds, bc the banks bought em when rates were nothing and 2% was attractive on the 1-3 yr. And now they are holding a bag. But no worries the biggest bank of them all will bail them out, which then falls onto the backs of the American ppl, inflation, if this is the case we ain't seen nothing yet
-------------------- hmm... "I'm naked and fearless... And my fear is naked." "life isn't worth living without the threat of death" "I got my plans in a ziploc bag, let's see how unproductive we can be" "nobody lives their lives fully except for bull fighters" My Trade List
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nooneman


Registered: 04/24/09
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Re: Silicon Valley Bank Collapse [Re: ashfiken]
#28228435 - 03/13/23 08:25 PM (10 months, 10 days ago) |
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The downside to not bailing them out is that basically every startup in America would fail overnight, probably putting tens of thousands of out a job. Then ontop of that, it would cause the economy as a whole to tank.
Etsy and everyone who sells there? All out of business overnight. So it's a shitty situation either way.
Personally I'm more of a free market kindof guy and inclined to let banks fail in situations like this, but I also like having a job and not being in a recession, so...
Plus I do like etsy and some other startups here and there.
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CHeifM4sterDiezL
Chief Globerts

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Re: Silicon Valley Bank Collapse [Re: nooneman]
#28228457 - 03/13/23 08:32 PM (10 months, 10 days ago) |
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Hiw the fuck is etsy a start up they've been around for like 20 years
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mycosis


Registered: 08/20/07
Posts: 19,727
Loc: USSA
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For the low low price of $13.79 Original Price:$22.99 (40% Off) you too can have your own etsy startup! 
https://www.etsy.com/market/etsy_startup
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ashfiken
TotalCrazyasshole


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Re: Silicon Valley Bank Collapse [Re: nooneman]
#28228874 - 03/14/23 05:24 AM (10 months, 9 days ago) |
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Agree on all fronts it's definitely a rock and a hard place. Any solution places stress on the economy, kinda where we are right now, unfortunately. It takes lots of taped up popsicle sticks to prop up the house of cards. Being free market, as i tend to be, even if we let the banks fail, the market is bludgeoned, via available credit, and the economy as we know it stalls all growth and sends us somewhere we ain't been since the 20's
-------------------- hmm... "I'm naked and fearless... And my fear is naked." "life isn't worth living without the threat of death" "I got my plans in a ziploc bag, let's see how unproductive we can be" "nobody lives their lives fully except for bull fighters" My Trade List
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SirTripAlot
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Re: Silicon Valley Bank Collapse [Re: ashfiken]
#28228888 - 03/14/23 05:53 AM (10 months, 9 days ago) |
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Banks should be regulated to have higher liquidity reserves....current marginal rate is 10%. Obviously, these institutions are playing fast and loose.
-------------------- “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.”
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Randar
Model Employee



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Re: Silicon Valley Bank Collapse [Re: SirTripAlot]
#28229006 - 03/14/23 08:23 AM (10 months, 9 days ago) |
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There need to be rules that the government can claim executive compensation if they have to step in. Otherwise, the executives have no skin in the game. It's win-win for them. Play risky and make big profits = win. Play risky and lose money, but still get paid and huge bonuses = win.
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koods
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Re: Silicon Valley Bank Collapse [Re: Randar]
#28229042 - 03/14/23 08:47 AM (10 months, 9 days ago) |
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Neither of these banks exist anymore. The executives are out of a job and shareholders are wiped out. FDIC is managing the accounts.
--------------------
NotSheekle said “if I believed she was 16 I would become unattracted to her”
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christopera
Stranger


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Quote:
CHeifM4sterDiezL said:

What's up with all these mushroom chocolates hitting the market? I assume it's a DMT analogue? My friend bought like 8 bars from some chicks we met at a show and then ended up partying with. Anyways, the high wasn't a mushroom high. It was quite pleasant, but definitely not mushrooms.
-------------------- 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.
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Randar
Model Employee



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Re: Silicon Valley Bank Collapse [Re: koods]
#28229138 - 03/14/23 10:00 AM (10 months, 9 days ago) |
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Quote:
koods said: Neither of these banks exist anymore. The executives are out of a job and shareholders are wiped out. FDIC is managing the accounts.
Yes, I'm sure the executives are really hurting right now because they're out of a job. The president and CEO had a total comp package of $9.9M. I'm sure he's so sad not to have a job, whatever will he do now?
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The Ecstatic
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Re: Silicon Valley Bank Collapse [Re: Randar]
#28229155 - 03/14/23 10:16 AM (10 months, 9 days ago) |
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Just wanna chime in and point that Barney Frank (of the Dodd-Frank bank reform bill in the wake of the 08 crisis) lobbied to get these deposit rules lessened for medium sized banks, and as a result his own bank went under.
If that isn’t Democrats in a nutshell idk what is
--------------------
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Kryptos
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Re: Silicon Valley Bank Collapse [Re: ashfiken]
#28229261 - 03/14/23 11:45 AM (10 months, 9 days ago) |
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Quote:
ashfiken said: Did you see that third bullet point in that article the Fed will "loan" ie bailout banks as they become insolvent with "high" quality collateral, like the treasuries the banks own.. Lmfao These same treasuries that are purportedly junk bonds, bc the banks bought em when rates were nothing and 2% was attractive on the 1-3 yr. And now they are holding a bag. But no worries the biggest bank of them all will bail them out, which then falls onto the backs of the American ppl, inflation, if this is the case we ain't seen nothing yet
Which means that the banks are, in fact, mostly solvent. They got hit with an old fashioned bank run because startups have notoriously poor money management and tend to put their eggs all in one basket.
The fact that the bank is heavily invested in T notes means that 99% of the money is there and can be recovered.
Well, assuming that the US doesn't default on its debts and make T notes worthless overnight.
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starfire_xes
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Re: Silicon Valley Bank Collapse [Re: Kryptos]
#28229365 - 03/14/23 01:02 PM (10 months, 9 days ago) |
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No I don't think so. The banks are over leveraged in loans.
I think another bank went down in flames over the weekend.
Get ready for some big interest rates from the fed. Look for stagflation.
I don't about you, but now our economy is fucked, high inflation, high interest rates. Inflation, and somewhat like now we have the situation like 1979, and more or less like the 2008-2009 economy.
What caused the problems of the economy 2008-2009?
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CHeifM4sterDiezL
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Re: Silicon Valley Bank Collapse [Re: Kryptos]
#28229369 - 03/14/23 01:04 PM (10 months, 9 days ago) |
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Chocolates might be real deal but any gummies u see are almost guaranteed to be some kinda RC. I've also seen those like brain booster shroom Chocolates supplements and even amanita muscaria chocolates which use an infusion with milk which I've never actually tried with psilocybin and muscaria gummies which I assume use some type of tincture but could be total bunk cuz i would ever eat those and all them are labeled not for human consumption i suspect theyre not even legal as theres not really a reasonable plausible deniablity to selling fucking candies not for human consumption and wont last long then again I doubt there's much enforcement but all it will take is a few kids flipping out on amanita gummies ending up in the hospital for the mighty moms to get thier panties in a bunch
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CHeifM4sterDiezL
Chief Globerts

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Re: Silicon Valley Bank Collapse [Re: starfire_xes]
#28229378 - 03/14/23 01:09 PM (10 months, 9 days ago) |
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Quote:
starfire_xes said: No I don't think so. The banks are over leveraged in loans.
I think another bank went down in flames over the weekend.
Get ready for some big interest rates from the fed. Look for stagflation.
I don't about you, but now our economy is fucked, high inflation, high interest rates. Inflation, and somewhat like now we have the situation like 1979, and more or less like the 2008-2009 economy.
What caused the problems of the economy 2008-2009?
What dewd get off the right wing dooms day radio the economy is much more robust than in 79 and banks have more liquidity now than almost ever. 2008 was a MASSIVE mortgage lending bubble what were seeing with svb is totally different.
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starfire_xes
I Am 'They'



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Give me a fucking break!
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CHeifM4sterDiezL
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Re: Silicon Valley Bank Collapse [Re: starfire_xes]
#28229435 - 03/14/23 01:39 PM (10 months, 9 days ago) |
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SVB fell a billion dollars short but was likely totally fine on liquidity until a bunch of retards caused a panic. The sub prime mortgage crisis was in the trillions
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Kryptos
Stranger

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SVB is explicitly not over-leveraged. SVB is actually in a much stronger position than most banks regulated by dodd frank are.
Unfortunately, bank runs cannot be prevented without collapsing the banking industry as a whole, because you can only do that by requiring banks to have 100% cash on hand, which means they cannot make loans.
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ashfiken
TotalCrazyasshole


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Re: Silicon Valley Bank Collapse [Re: Kryptos]
#28229562 - 03/14/23 03:08 PM (10 months, 9 days ago) |
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I agree they are mostly solvent. I also think the bonds they have been buying now look like trash. On the rate split. My worry isn't the solvency it's the bailout verbiage that kills me. If they are forced to sell or give up collateral to the fed, in exchange for dollars on hand, then the inflation crisis becomes exacerbated. If for any reason dumbasses continue to panic, this becomes a reality.
-------------------- hmm... "I'm naked and fearless... And my fear is naked." "life isn't worth living without the threat of death" "I got my plans in a ziploc bag, let's see how unproductive we can be" "nobody lives their lives fully except for bull fighters" My Trade List
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starfire_xes
I Am 'They'



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Re: Silicon Valley Bank Collap [Re: ashfiken] 1
#28242825 - 03/23/23 11:03 AM (10 months, 10 hours ago) |
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During the Obama/Biden term, didn't they made regulations after the 2008 bank crisis, to prevent these bank problems?
Oh I got it. Biden stated that bank managers are the problem....
I am happy, I am going back to my room, blow a few pipe loads, and beat off over japanese porn.
If the taxpayers are not to pay for the FDIC insurance, who is? Maybe they have money trees in the Whitehouse garden.
Edited by starfire_xes (03/23/23 11:07 AM)
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koods
Ribbit



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Re: Silicon Valley Bank Collap [Re: starfire_xes]
#28242851 - 03/23/23 11:22 AM (10 months, 10 hours ago) |
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Quote:
During the Obama/Biden term, didn't they made regulations after the 2008 bank crisis, to prevent these bank problems?
Yes. They were rolled back in 2018
--------------------
NotSheekle said “if I believed she was 16 I would become unattracted to her”
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starfire_xes
I Am 'They'



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Re: Silicon Valley Bank Collap [Re: koods]
#28242856 - 03/23/23 11:28 AM (10 months, 10 hours ago) |
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Who rolled them back? Show me the info about this.
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Enlil
OTD God-King




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Re: Silicon Valley Bank Collap [Re: starfire_xes]
#28242898 - 03/23/23 11:49 AM (10 months, 10 hours ago) |
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-------------------- Censoring opposing views since 2014. Ask an Attorney Fuck the Amish
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koods
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Re: Silicon Valley Bank Collap [Re: Enlil]
#28242926 - 03/23/23 12:12 PM (10 months, 9 hours ago) |
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This would be the relevant section.
Quote:
Reduced Regulatory Burdens for All but the Largest Bank Holding Companies. The Act eliminates the need for bank holding companies with less than $250 billion in assets to comply with most aspects of “enhanced prudential standards,” including resolution planning, stress testing, and single-counterparty credit limits.
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NotSheekle said “if I believed she was 16 I would become unattracted to her”
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mushboy
modboy



Registered: 04/24/05
Posts: 32,256
Loc: where?
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Re: Silicon Valley Bank Collap [Re: starfire_xes] 1
#28242931 - 03/23/23 12:13 PM (10 months, 9 hours ago) |
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Quote:
starfire_xes said: Who rolled them back? Show me the info about this.
The repeal of Dodd frank was national news unless you watch tuckums then you were more concerned about …. liberals/brown people? Or whatever other distraction.
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The Ecstatic
Chilldog Extraordinaire


Registered: 11/11/09
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Re: Silicon Valley Bank Collap [Re: mushboy] 1
#28242937 - 03/23/23 12:18 PM (10 months, 9 hours ago) |
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Quote:
mushboy said:
Quote:
starfire_xes said: Who rolled them back? Show me the info about this.
The repeal of Dodd frank was national news unless you watch tuckums then you were more concerned about …. liberals/brown people? Or whatever other distraction.
I wanna say it was migrant caravan hysteria timeframe, but I could be wrong.
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CHeifM4sterDiezL
Chief Globerts

Registered: 07/28/10
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Quote:
starfire_xes said: Who rolled them back? Show me the info about this.
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Enlil
OTD God-King




Registered: 08/16/03
Posts: 65,470
Loc: Uncanny Valley
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Re: Silicon Valley Bank Collap [Re: mushboy]
#28242950 - 03/23/23 12:27 PM (10 months, 9 hours ago) |
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Quote:
mushboy said:
Quote:
starfire_xes said: Who rolled them back? Show me the info about this.
The repeal of Dodd frank was national news unless you watch tuckums then you were more concerned about …. liberals/brown people? Or whatever other distraction.
In fairness, Starfire did have a stroke around that time...
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Brian Jones
Club 27



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Re: Silicon Valley Bank Collapse [Re: koods]
#28244059 - 03/24/23 04:33 AM (9 months, 30 days ago) |
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Quote:
koods said: Junk bonds don’t have 1% interest rates.
That's right. Junk is a nickname for high yield bonds. They have different levels of risk and corresponding reward. This would be questionable time to invest in low rated junk, but high rated junk might be a good buy.
The problem which the banking/real estate crisis made clear was that rating agencies can collude with the banks selling garbage. IDK if that issue has been addressed since then.
-------------------- "The Rolling Stones will break up over Brian Jones' dead body" John Lennon I don't want no commies in my car. No Christians either. The worst thing about corruption is that it works so well,
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The Ecstatic
Chilldog Extraordinaire


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Posts: 33,357
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Re: Silicon Valley Bank Collapse [Re: Brian Jones]
#28244128 - 03/24/23 06:53 AM (9 months, 30 days ago) |
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Not to mention corporate debt has skyrocketed during this time of sustained, virtually zero percent, low interest rates. I would be wary of any high yield bonds right now.
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Brian Jones
Club 27



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Re: Silicon Valley Bank Collapse [Re: The Ecstatic] 1
#28244163 - 03/24/23 07:33 AM (9 months, 30 days ago) |
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Yes, borrowing to survive or to grow got pricy.
The former will put companies under.
The latter seems to be the Fed's intent. We'll see what happens with wages. Skilled tech already declined. But the low skill side is still paying hiring bonuses, and annual labor market raises.
-------------------- "The Rolling Stones will break up over Brian Jones' dead body" John Lennon I don't want no commies in my car. No Christians either. The worst thing about corruption is that it works so well,
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